SINGAPORE, March 25 -- A luxury mansion in Singapore has been purchased at a record price per square foot by a scion of Malaysia's Public Bank founding family.

According to Bloomberg, Diona Teh Li Shian, daughter of the late Tan Sri Teh Hong Piow, paid S$93.9 million (RM311 million) for the Good Class Bungalow (GCB) in Tanglin Hill.

Property records show the transaction was completed last month at a record rate of S$6,197 per square foot.

Good Class Bungalows are highly sought after, with ownership mainly restricted to Singapore citizens and only about 2,800 available.

The property, near Orchard Road and embassies, sits on a 1,408-square-meter plot.

The mansion, being built by developer Meir Homes, will span 2,756 square meters acros...