No units sold at first auction for luxury properties seized in S$3 billion money laundering case

The auction drew dozens of bidders, but there was no interest in some of the luxury units.

The exterior of Gramercy Park at Grange Road. (Photo: Knight Frank)

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SINGAPORE: The first properties seized in connection with Singapore's largest money laundering case went under the hammer on Thursday (Sep 17) afternoon, but none were sold.

Dozens of people filled the Knight Frank office in Ocean Financial Centre before the auction started, with more queuing to get in.

With most seats filled, there was only standing room for other interested bidders. Most browsed the catalogue on their phones while waiting for the bidding to start, and no photos, video or audio recordings were allowed.

The seized properties that were up for auction were:

Gramercy Park - Four units with guide prices starting from S$3.8 million to S$7.6 million

Sloane Residences - Two units with guide prices starting from S$3.6 million to S$3.7 million

Suntec Tower 1 - Grade A office space with a guide price of S$11.5 million

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Those who won their bids were expected to put down a 5 per cent to 10 per cent deposit as well as sign an offer to purchase and sub-joint memorandum of contract. The sale should be completed within 10 weeks. Gramercy Park Located along Grange Road, Gramercy Park is a 174-unit freehold development with units that come with private lifts. It received its Temporary Occupation Permit (TOP) in 2016, which was when its first residents started moving in. The bidding on Thursday started with a four-bedroom unit on level 12 that is 2,691 sq ft, with three bedrooms. Despite an excited murmur through the crowd, the unit received no bid at its starting price of S$7.5 million. The next unit on the 17th floor, which is 2,659 sq ft, opened at S$7.55 million. The first offer came in at S$4 million, to laughs in the crowd, and it was not long before it hit S$6 million. Due to technical issues that prevented bidders from sending their offers through the app, bidders were given bid cards to raise. The bidding for the unit ended at S$6.7 million, and it was withdrawn as it did not meet the reserve price. The third unit on the 18th floor, which is 2,185 sq ft, started at about S$6.3 million and drew no interest. A bidder put in a counter-offer of S$3.2 million for a two-bedroom and study unit on the 21st floor, which opened at S$3.82 million. This rose quickly to S$3.5 million. This unit drew particular interest from three bidders, who jostled with each other. About 10 bids later, at S$3.75 million, the unit was withdrawn as it did not meet the reserve price. The auctioneer told the hall that the company would "take it offline" with the highest bidder.

Those who won their bids were expected to put down a 5 per cent to 10 per cent deposit as well as sign an offer to purchase and sub-joint memorandum of contract. The sale should be completed within 10 weeks.

Located along Grange Road, Gramercy Park is a 174-unit freehold development with units that come with private lifts. It received its Temporary Occupation Permit (TOP) in 2016, which was when its first residents started moving in.

The bidding on Thursday started with a four-bedroom unit on level 12 that is 2,691 sq ft, with three bedrooms. Despite an excited murmur through the crowd, the unit received no bid at its starting price of S$7.5 million.

The next unit on the 17th floor, which is 2,659 sq ft, opened at S$7.55 million. The first offer came in at S$4 million, to laughs in the crowd, and it was not long before it hit S$6 million.

Due to technical issues that prevented bidders from sending their offers through the app, bidders were given bid cards to raise.

The bidding for the unit ended at S$6.7 million, and it was withdrawn as it did not meet the reserve price.

The third unit on the 18th floor, which is 2,185 sq ft, started at about S$6.3 million and drew no interest.

A bidder put in a counter-offer of S$3.2 million for a two-bedroom and study unit on the 21st floor, which opened at S$3.82 million. This rose quickly to S$3.5 million.

This unit drew particular interest from three bidders, who jostled with each other. About 10 bids later, at S$3.75 million, the unit was withdrawn as it did not meet the reserve price.

The auctioneer told the hall that the company would "take it offline" with the highest bidder.

The interior of a seized apartment at Gramercy Park. (Photo: Knight Frank)

Two 3-bedroom units at Sloane Residences, a 52-unit freehold property at Balmoral Road, had guide prices of between S$3.6 million and S$3.7 million. The units, each measuring 1,249 sq ft, have private lifts.

They drew no interest from the bidders and were both withdrawn.

A 3,498 sq ft office at Suntec, described as a premium Grade A office space that is fitted and ready for occupation, opened at S$11 million.

It received only one counter-offer of S$8 million and was withdrawn as well, as it failed to meet the reserve price.

Speaking to reporters after the auction, Ms Tricia Tan, director of auction and sales at Knight Frank Singapore, said the real estate firm would have to get instructions from authorities on the next steps, given that no unit was sold.

This includes whether the real estate company can get into private negotiations with bidders to sell the unit, or if it should repeat the auction.

The interior of a seized apartment at Sloane Residences. (Photo: Knight Frank)

More than 80 properties will be put up for sale from September to mid-2027. They are part of the S$3 billion worth of assets seized after islandwide raids in August 2023 uncovered millions of dollars earned from an illicit gambling ring in Southeast Asia.

Other properties in the auction include other condominiums, factory units, and a Housing and Development Board (HDB) shophouse put up under owner, mortgagee or public trustee sales.

SRI and Edmund Tie and Company (ETC) will each hold auctions on Sep 23.

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拍卖会吸引了数十名竞标者，但一些豪华公寓却无人问津。

格兰奇路格拉梅西公园的外观。（图片：莱坊）

这段音频由人工智能工具生成。

新加坡：与新加坡最大洗钱案有关的首批查获房产于周四（9月17日）下午进行拍卖，但无一售出。

拍卖开始前，数十人挤满了海洋金融中心的莱坊办公室，还有更多人排队等候进入。

由于大部分座位已满，其他感兴趣的竞拍者只能站着。大多数人在等待竞拍开始时都用手机浏览目录，现场禁止拍照、录像或录音。

被查封并待拍卖的财产包括：

格拉梅西公园——四套公寓，指导价从380万新元到760万新元不等。

斯隆公寓 - 两套单元房，指导价从360万新元至370万新元不等。

新达城1号楼——甲级写字楼，指导价1150万新元

CNA游戏猜词游戏：逐行破解单词；流行词游戏：用给定的字母组成单词；迷你数独：小巧的谜题，强大的脑力挑战；迷你填字游戏：小网格，大挑战；单词搜索：尽可能多地找出单词。显示更多 显示更少 中标者需支付5%至10%的定金，并签署购房要约和联合合同备忘录。交易应在10周内完成。格拉梅西公园 (Gramercy Park) 位于格兰奇路 (Grange Road) 沿线，是一个拥有174个单元的永久产权住宅项目，所有单元均配备私人电梯。该项目于2016年获得临时入住许可证 (TOP)，首批住户也于同年开始入住。周四的竞标从12楼一套面积为2,691平方英尺（约243平方米）的四居室单元开始，该单元设有三个卧室。尽管人群中响起一阵兴奋的低语，但该单元最终无人问津，起价为750万新元。位于17楼的下一套公寓，面积2,659平方英尺，起拍价755万新元。第一个报价400万新元，引来现场一片笑声，但很快价格就涨到了600万新元。由于技术问题导致竞标者无法通过应用程序提交报价，竞标者只能使用竞价卡进行加价。最终，这套公寓的成交价定格在670万新元，但由于未达到底价而被撤回。位于18楼的第三套公寓，面积2,185平方英尺，起拍价约为630万新元，但无人问津。一位竞标者对位于21楼的一套两卧加书房的公寓提出了320万新元的还价，该公寓的起拍价为382万新元。价格迅速上涨至350万新元。这套公寓吸引了三位竞标者的浓厚兴趣，他们展开了激烈的竞价。大约十轮竞价后，该房产以375万新元的价格成交，但因未达到底价而被撤回。拍卖师告诉现场观众，公司将把房产“私下出售”给最高出价者。

中标者需缴纳5%至10%的定金，并签署购房要约和联合合同备忘录。交易应在10周内完成。

格拉梅西公园位于格兰奇路，是一个拥有174个永久产权单元的住宅项目，所有单元均配备私人电梯。该项目于2016年获得临时入住许可证（TOP），首批住户也于同年开始入住。

周四的竞标从12楼一套面积为2691平方英尺（约243平方米）、拥有三间卧室的四居室单元开始。尽管现场响起一阵兴奋的低语，但这套起拍价为750万新元的单元最终无人问津。

位于17楼的下一套公寓，面积2659平方英尺，开价755万新元。第一个报价是400万新元，引得现场一片哄笑，但很快成交价就达到了600万新元。

由于技术问题导致竞标者无法通过应用程序发送报价，因此竞标者被发放了竞价卡来提高报价。

该单元的竞标最终以 670 万新元的价格结束，但由于未达到底价而被撤回。

位于 18 楼的第三套公寓面积为 2,185 平方英尺，起价约为 630 万新元，但无人问津。

一位竞标者对位于21楼的一套两室一厅带书房的公寓提出了320万新元的还价，该公寓的起拍价为382万新元。之后价格迅速上涨至350万新元。

这套房产吸引了三位竞标者的浓厚兴趣，他们展开了激烈的竞争。大约十轮出价后，最终以375万新元的价格成交，但由于未达到底价，该房产被撤回。

拍卖师告诉现场观众，该公司将与出价最高者“进行线下交易”。

格拉梅西公园一间被查封公寓的内部景象。（图片：莱坊国际）

位于巴尔莫勒尔路（Balmoral Road）的斯隆公寓（Sloane Residences）是一栋拥有52个单元的永久产权住宅项目，其中两套三居室单元的指导价在360万新元至370万新元之间。这些单元面积均为1249平方英尺，并配有私人电梯。

由于没有引起竞标者的兴趣，这两个项目都被撤回了。

位于新达城的一间面积为 3,498 平方英尺的办公室正式启用，该办公室被描述为高级 A 级办公空间，配备齐全，可立即入住，投资额为 1100 万新元。

该报价仅收到一份 800 万新元的还价，由于未能达到底价，最终也被撤回。

拍卖结束后，莱坊新加坡拍卖及销售总监陈翠霞女士在接受记者采访时表示，由于没有房产售出，房地产公司将不得不向有关部门寻求下一步行动的指示。

这包括房地产公司是否可以与竞标者进行私下谈判出售该房产，或者是否应该重新进行拍卖。

斯隆公寓（Sloane Residences）一间被查封公寓的内部照片。（图片：莱坊国际）

从9月到2027年年中，将有80多处房产被挂牌出售。这些房产是2023年8月全岛突击搜查后查获的价值30亿新元的资产的一部分，当时警方破获了一个来自东南亚的非法赌博团伙，该团伙非法获利数百万美元。

此次拍卖的其他房产包括其他公寓、厂房单元以及由业主、抵押权人或公共信托人出售的建屋发展局 (HDB) 店屋。

SRI 和 Edmund Tie and Company (ETC) 将于 9 月 23 日分别举行拍卖会。

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