Some may call Raj Datwani and Alex Chew bold visionaries. Others might call them crazy. The pair has just opened a private members club, at a time when Singaporeans are tightening their belts.
Private club memberships have long been seen as a form of investment in the small city-state, where land is scarce and, until relatively recently, access to pools, tennis courts and other amenities weren't available at most apartment blocks.
Those memberships did not come cheap, with annual fees ranging from $4,900 to $167,000.
But membership broker and owner of Tee-Up Marketing Enterprises Fion Phua says Singaporeans have started to question the value of exclusive club memberships.
"After the government started to take away land, Singaporeans started to worry," she says. "If I buy this club, what will happen to my club membership? Is it still a form of investment?"