Billionaire James Dyson just sold his Singapore penthouse at a massive loss a year after his company scrapped plans to design an electric vehicle in the city

Dyson founder James Dyson just sold Singapore's most expensive penthouse at a loss.
He purchased the home in 2019 for $54.2 million after announcing Dyson was moving its headquarters to Singapore.
Since then, Dyson cancelled its hyped electric car project because it was not commercially viable.
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James Dyson, billionaire inventor of the Dyson vacuum, just sold the largest and most expensive penthouse in Singapore. He's selling the massive penthouse to Indonesian billionaire Leo Koguan for a reported $47 billion. Despite the huge price tag, the sale represents a $7 million loss for Dyson, who bought the penthouse in 2019 for $54 million.

The 21,000 square foot residence takes up the top three floors of Guoco Tower, the tallest building in the city, designed by Skidmore, Owings & Merrill.

Dyson is best known for its vacuum cleaners, but last year the company moved to a new Singapore headquarters, which was supposed to be the site of a new electric car project because it was closer to suppliers and Asian markets where it would eventually be sold. It was planned to debut in 2021.

In October 2019, Dyson announced that the elctric car project was officially dead. Dyson said that though engineers had developed a "fantastic" car, it was "not commercially viable" and the company could not find a buyer. Now, almost exactly a year later Dyson is losing out on millions in the sale of his penthouse.

Take a look at the building.

The penthouse is part of the 64 story Guoco Tower in Singapore.

40174574_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

The tallest building in Singapore, Guoco Tower is located in the desirable Tanjong Pagar neighborhood in the business district.

Tanjong Pagar Centre_Studio Periphery 1_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

Designers integrated some sustainable aspects, like solar panels as a roof over one of the public spaces.

Tanjong Pagar Centre_GuocoLand_DJI_0141_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

The building is mixed use, with offices, stores and residences.

Tanjong Pagar Centre_Studio Periphery 81_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

With a hotel and park as well, the website describes Guoco Tower as a "vertical city."

Tanjong Pagar Centre_Studio Periphery 62 (1)_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

181 luxury apartments on floors 39 through 64 make up the Wallich Residence.

Tanjong Pagar Centre_Studio Periphery 45_jpg — Guoco Tower
Photo Courtesy of SOM/Studio Periphery

Apartments range in size, with one bedrooms to four bedrooms, plus three junior penthouses and one "super penthouse" that was sold by Dyson.

Tanjong Pagar Centre_Studio Periphery 6_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

Even the lowest priced one bedroom units start at over $1.5 million, and junior penthouses start at around $12 million.

Tanjong Pagar Centre_Studio Periphery 48_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

The Wallich apartments have a few shared common areas, including the main lobby seen here.

Wallich Residence Arrival Lobby (2).JPG — Wallich Residence.
GuocoLand

The Wallich room is a formal dining room that residents can reserve.

Wallich Room at L52 (2).JPG — Wallich Residence.
GuocoLand

As the tallest building in Singapore, residents have access to the Apex observatory for panoramic views of the city.

Tanjong Pagar Centre_Studio Periphery 78_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

Other communal areas, like the library and networking room, are also high enough to get stunning views, in an area of the building called Cloud 220 for its height above the clouds.

Tanjong Pagar Centre_Studio Periphery 54_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

A 567 car parking lot is also a luxury in a city where space is at a premium.

Tanjong Pagar Centre_Studio Periphery 95_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

The Super Penthouse has the most luxurious amenities of all, including a private garden and rooftop terrace.

Tanjong Pagar Centre_Studio Periphery 99_jpg — Guoco Tower.
Photo Courtesy of SOM/Studio Periphery

The 21,100 square foot residence has five bedrooms and occupies the top three floors of the tower, making it the single highest point in all of Singapore.