Six luxury freehold apartments linked to a $3 billion money laundering case are set to be auctioned later this month in Singapore, adding to a growing list of seized properties being liquidated by authorities. The auction will take place on October 28 at the corporate office of Realtor SRI, one of the appointed brokerages managing the sales.
The units include five apartments at Nouvel 18, a residential development near Orchard Road, and a four-bedroom apartment at New Futura on Leonie Hill Road. These properties are part of an ongoing effort to sell off assets tied to the nation’s largest money laundering investigation, which involves over 80 properties in total.
Since mid-September, 32 properties linked to the case have been put up for sale. However, only four luxury units in the Wallich Residence and Martin Modern developments sold during auctions held on September 17 and 23, generating a combined sale value of about S$16.28 million. The remainder, including a high-value penthouse at South Beach Residences, failed to meet their reserve prices or attracted no bids and were subsequently withdrawn.
Mok Sze Sze, managing partner of SRI Auction, said the remaining unsold units at Wallich Residence and Martin Modern continue to generate considerable interest. The firm is awaiting guidance from authorities before deciding whether to proceed with re-auctioning these properties.
In addition to the auction, three bungalows with private yacht berths and a leasehold sea-view plot in Sentosa Cove are being offered through expression of interest (EOI) sales handled by List Sotheby’s International Realty. The 99-year leasehold land parcel at 143 and 145 Cove Drive belongs to Su Haijun, a Cypriot national convicted in the money laundering case. The vacant land, which spans 18,740 square feet, is offered at a guide price of S$23.65 million with bids due by November 12.
Two other bungalows at 38 and 40 Ocean Drive and one at 13 Pearl Island, owned respectively by Lin Baoying and her partner Zhang Ruijin—both convicted and sentenced to prison on money laundering and forgery charges—are also on the market through EOI sales. Lin’s properties, located on a combined 15,798 square foot site, are priced at S$22.8 million, with bids closing October 29. Zhang’s bungalow is listed at S$15.68 million with an October 15 deadline. Zhang also previously sold a Wallich Residence apartment for S$6.6 million at auction in September. All three individuals have since completed their sentences, been deported, and barred from re-entering Singapore.
The five apartments at Nouvel 18 range in size from 1,335 to 6,125 square feet and include configurations from two-bedroom plus study to four-bedroom units. Prices per square foot range from S$2,939 to S$3,558. Nouvel 18 is composed of two 36-storey towers with 156 units and features eight sky gardens. The development’s location near Orchard MRT station and proximity to educational institutions and embassies add to its appeal.
The four-bedroom New Futura apartment measures 2,691 square feet and carries a guide price of S$9.28 million, or about S$3,642 per square foot. The 124-unit freehold development is known for its six themed sky terraces and is situated near Somerset MRT station, close to both River Valley and Orchard Road amenities.
Mok described Nouvel 18 as offering a balance of exclusivity, greenery, and convenience within the Ardmore Park enclave, while New Futura combines spacious living with privacy and connectivity in a highly sought-after district. Both developments are viewed as attractive options for buyers seeking luxury homes with close access to central Singapore.