10 luxury apartments from Singapore’s S$3 billion money laundering case to be auctioned on Sep 23

SINGAPORE: Ten luxury apartments from Singapore’s S$3 billion money laundering case will be put up for auction on Sep 23, with prices starting from S$2.238 million.

The properties are among more than 80 real estate assets forfeited in Singapore’s largest money laundering case. They are located at Wallich Residence in Tanjong Pagar and Martin Modern in River Valley, with guide prices reaching up to S$6.78 million, Channel NewsAsia reported.

Real estate agency SRI will conduct the auction at its Great World City office at 2:30 pm on Sep 23.

Four of the units are at Wallich Residence, part of the Guoco Tower integrated development in the Central Business District. The three- and four-bedroom apartments range from about 1,313 sq ft to 1,991 sq ft, with guide prices of S$4.42 million to S$6.78 million. The development also has direct access to Tanjong Pagar MRT Station.

Meanwhile, the remaining six luxury apartments at Martin Modern in River Valley range from 764 sq ft to 1,733 sq ft and include two-, three- and four-bedroom units, with guide prices between S$2.238 million and S$4.98 million.

Edmund Tie & Company and Knight Frank will be handling auctions of other properties, while some forfeited properties will be marketed separately through an expression of interest process by List International Realty.

Deloitte also said more than 1,000 luxury items and 80 real estate properties forfeited in the money laundering case will be auctioned in phases from Sep 7 through to mid-2027. /TISG

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