A Sentosa Cove plot at 69 Ocean Drive that once belonged to Cambodian money launderer Su Baolin has been sold for $22 million to Mr Benedict Beh Wei Hao, according to documents seen by The Straits Times.
The latest price works out to about $1,125 per sq ft (psf), based on the total land area of 19,550 sq ft or 1,816.3 sq m.
In February 2024, an 8,677 sq ft landed property at 258 Ocean Drive changed hands for $16 million or $1,844 psf.
The 1,816.3 sq m site, which offers unblocked views of the sea and the Central Business District, has a 99-year leasehold tenure from July 26, 2005, according to a caveat lodged on Sept 27, 2024.
Mr Steve Tay, executive director of Steve Tay Real Estate, believes that this is a good deal in terms of value for the buyer.
"There are less than 10 sea-facing plots above 15,000 sq ft in size in Sentosa Cove. So, this plot is a rarity among the 350 bungalow plots, excluding terrace and strata-landed plots in the area," he noted.
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