Seized luxury condos from Singapore's S$3 billion money-laundering case go to auction
Four seized condominium units were auctioned on September 23, with most of the 15 properties attracting no bids.
Four condominium units seized in connection with Singapore's S$3 billion money-laundering investigation were put up for auction on September 23. Real-estate firms SRI and Edmund Tie and Company conducted separate auctions, drawing about 60 participants at SRI's Great World City office and a handful of bidders at ETC's UIC Building venue. While a four-bedroom penthouse at South Beach Residences listed at S$25.3 million received no offers, several smaller units at Martin Modern sold for just over S$2 million each, and larger apartments at Wallich Residence fetched between S$5.3 million and S$6.6 million.
Two other Wallich units and several listings at other developments failed to draw interest and were withdrawn. The auction follows earlier unsold seizures and precedes the planned sale of more than 80 assets through mid-2027.
Why it matters
The sale shows how authorities are liquidating assets tied to a major money-laundering case, impacting Singapore's luxury property market.
In this story
