Singapore luxury apartments linked to S$3 billion money laundering case to be auctioned

Ten luxury apartments in Singapore’s River Valley and Tanjong Pagar areas are scheduled for auction on September 23. These properties represent the first installment of more than 80 real estate assets linked to a S$3 billion money laundering investigation.

Guide prices for the properties range from S$2.238 million to S$6.78 million. The auction portfolio includes six units at Martin Modern and four prime apartments at Wallich Residence. Real estate agency SRI has been appointed as the exclusive marketing agency for the auction, with brokerages Edmund Tie & Company and Knight Frank also appointed to conduct sales. Other selected properties will be marketed through an expression-of-interest process by List International Realty.

Deloitte Singapore, appointed by the Singapore Police Force to manage and realize forfeited non-cash assets, stated that the more than 80 properties tied to the probe will be auctioned progressively. This follows the largest money laundering case in the country's history.