Four condominium units seized in Singapore’s S$3 billion money laundering case were sold at auction on Wednesday (Sep 23), although most of the other 15 on offer received no interest.
Notable properties that were up for sale included a four-bedroom penthouse at South Beach Residences that was listed at a guide price of S$25.3 million (US$19.8 million). SRI held its auction at its Great World City office and drew about 60 people.
Six units at Martin Modern went under the hammer first, with four smaller than 1,000 sq ft.
The first, a 764 sq ft unit on the 26th floor, opened at about S$2.24 million. After a long period of silence, a counter bid was made at S$2.05 million. This triggered another three bids, and the unit was eventually sold at S$2.12 million.
A 29th-floor two-bedroom unit also opened at about S$2.24 million, but three bids later, the unit was withdrawn, with the highest offer at S$2.11 million.
Another three units, between floors 26 and 29, measuring between 764 sq ft and 1,733 sq ft, went by with no interest.
The final unit at Martin Modern, measuring 764 sq ft on the 17th floor, was sold at S$2.08 million – the only bid after it opened at about S$2.24 million.
SRI also put four units at Wallich Residence up for sale. The units, much larger than those on offer at Martin Modern, were between 1,313 sq ft and 1,991 sq ft and drew considerable interest.
The first and largest unit opened at S$6.78 million. Located on the 61st floor, it offered both sea and city views.
The first bid came in at S$6.4 million, before this was raised to S$6.5 million. The unit was sold at the third bid, at S$6.6 million.
Offers also flew in for a 1,658 sq ft unit on the 53rd floor. With an opening price of S$5.55 million, the unit received bids from S$5.3 million, before the fifth bid at S$5.48 million completed the sale.
The final two units – 1,313 sq ft on the 51st floor and 1,755 sq ft on the 54th floor – did not receive any interest and were withdrawn.
CNA
