AN apartment on the third level of the plush Seven Palms Sentosa Cove has been sold by the developer for S$15.782 million - which works out to S$3,721 per square foot based on the strata area of 4,241 sq ft. The unit is on the third floor in the block next to Tanjong Beach. The buyer, a Singapore citizen, is understood to be in the telecom infrastructure business. The four-storey condo, comprising three...
Sentosa Property
Ezra Holdings' Lee family has put their waterway-fronting Sentosa Cove bungalow on the block, months after they sold a Good Class Bungalow (GCB) along Windsor Park Road last October for a cool S$22 million. The exclusive two-storey five-bedroom property in the South Cove precinct was put on the market after the Chinese New Year festivities. It comes with a price tag of S$26 million, or S$2,258 per...
United States investment giant Blackstone and Malaysia's CIMB Bank will invest in three Sentosa Cove properties owned by City Developments (CDL), including the W Singapore hotel, in a complex transaction valued at S$1.5 billion. The investment in the Quayside Collection – comprising the W hotel, the Quayside Isle retail complex and the Residences at W Singapore – will be via an investment instrument...
Far East Organization has won the tender for a hotel site at Sentosa. The 60-year leasehold site at Artillery Avenue is situated on elevated ground and overlooks Palawan Beach. According to Sentosa Development Corporation, Far East will pay an upfront land premium of S$32 million. In addition, it will pay S$3.7 million annually, or 10 per cent of the total annual gross revenue, whichever is...
Demand for luxury homes in Sentosa Cove may be softening but it is not losing its shine just yet. Property experts said prices in Sentosa Cove are set to make a rebound, even hitting previous highs seen in 2008 before the global financial crisis. The upbeat sentiment came following a report by Colliers International on Tuesday which said Sentosa Cove properties are now cheaper than mass market...
Touted as an enclave for the super-rich, Sentosa Cove "has lost some shine of late" after the 2008 global financial crisis and the raft of local property cooling measures in recent years, according to a report released by real estate company Colliers International. As a result, residential properties at the cove are now within reach of the mass market, the report said, with the difference in price...
Sales of private residential properties in Sentosa Cove have fallen substantially this year, following stiffer Additional Buyer's Stamp Duty (ABSD) rates implemented in January this year. Property agency PropNex said industry data showed that 42 apartments and landed homes were sold in the first nine months of this year. This is compared with 98 units transacted in the whole of last year. The...
Angered by what they allege to be "defects" on their property - which include termite-infested pool decking, flooded staircases in common areas and incorrectly-installed electrical fittings - 108 owners of an upscale condominium on Sentosa Cove have taken property developer Ho Bee Investment and three contractors to court. Ho Bee has denied some of the claims, said its Executive Director Desmond Woon....
A new record price psf of land area has been set after a Sentosa Cove bungalow was sold for S$32.5 million, or S$3,214 psf on the land area of 10,111 sq ft. The Ocean Drive property was reportedly bought by a Malaysian citizen from a Singaporean investor, noted The Business Times. This latest deal breaks the record set by another Sentosa Cove home sold for S$28.2 million, or S$2,989 psf on a land area of...
Sales of bungalows at Sentosa Cove have picked up significantly in recent weeks, rebounding from the effects of the additional buyer’s stamp duty (ABSD), reported The Business Times. Owners of around 12 bungalows issued options to potential buyers in the past two months, with interest coming mostly from foreigners, especially China nationals. For instance, two homes on Pearl Island were reportedly sold...