Three waterfront bungalows in Sentosa Cove are up for sale via expression of interest with combined guide prices of S$38.48 million ($30 million). Authorities seized the properties during Singapore’s S$3 billion money laundering crackdown.
List Sotheby’s International Realty is handling the sales. All three homes include private yacht berths. A separate 1,741-square-metre vacant plot in the same waterfront district is also on the market for S$23.65 million.
Two adjoining bungalows at 38 and 40 Ocean Drive occupy a combined 1,468 square metres. Registered to Lin Baoying, the joint parcel carries a guide price of S$22.8 million. Bids close on Oct. 29.
A third residence at 13 Pearl Island covers 879.6 square metres across two storeys. Registered to Zhang Ruijin, the detached house features marble flooring, five en-suite bedrooms, an entertainment suite, a wine cellar, a private swimming pool, and a home lift. The guide price is S$15.68 million, with submissions closing on Oct. 15 at 3pm.
Nearby at 143 and 145 Cove Drive, an amalgamated 99-year leasehold site spans 18,740 square feet with an asking price of S$23.65 million. Su Haijin is the registered owner of the plot, which previously held two bungalows. Bids for that land parcel close on Nov. 12 at 3pm.
Singapore Land Authority records show the convicted individuals remain registered titleholders. However, statutory enforcement orders have stripped their rights to deal with or transfer the properties. Sale proceeds will go directly into the Government’s Consolidated Fund.
The expression of interest process lets receivers test buyer demand confidentially without committing to public reserve auctions.
Source link
