Indonesia’s Lippo Group buys waterfront condo site at Sentosa for $234.7m

Indonesia‘s Lippo Group has bought a waterfront condominium site on Sentosa for nearly S$235m.

It beat six other bidders for the site which measures about 2.2 hectares.

The purchase price works out to about $818 per square foot per plot ratio.

The site, dubbed the Marina Collection, will be developed into luxury waterfront residences.

Lippo can build a condominium of up to four storeys, with a maximum of 170 units.

The sea-facing site is linked to other projects such as the One degree 15 Marina Club, Sentosa Cove’s Integrated Arrival Plaza, and the recently awarded Quayside Isle.

Source: Channel NewsAsia, 11 October 2006 

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