Corals Keppel Bay $10m

[Singapore Property] Corals at Keppel Bay units sold for over $10m each

Source :The Straits Times – May 30, 2013

The ultra luxury waterfront Corals at Keppel Bay condominium project were sold for around $10.1 million and $10.3 million.

Keppel Land told the Singapore Exchange on Tuesday that family members of Mrs Koh-Lim Wen Gin, a former Urban Redevelopment Authority (URA) chief planner, bought the units at its upcoming project Corals at Keppel Bay.

Background into the Corals Keppel Bay $10m unit Buyers. Mrs Koh has been an independent director of Keppel Land since January 2010. One of the buyers is her daughter, Ms Koh Lin-Net, the chief executive of the Media Development Authority. Ms Koh was the former deputy secretary of trade at the Ministry of Trade and Industry. Ms Koh and her husband Lawrence Low bought a 3,477 sq ft four-bedder at Corals for slightly below $10.1 million, which works out to around $2,901 per sq ft for the second-floor unit. The option to purchase is dated May 19. The other family member is Mr Kevin Koh In-Chuen, who bought a first-floor 3,660 sq ft four-bedder for around $10.3 million. This translates to around $2,816 psf. Mr Koh’s option to purchase is dated May 20.

Source :The Straits Times – May 30, 2013

The Corals At Keppel Bay offers Owners an exclusive 366 units to select from one bedrooms to four bedrooms ranging from 600 sqft to 3500 sqft. Prices for Corals Keppel Bay range from $1800psf to $3000psf.

Part of the former land that used to be owned by Keppel Group, Corals at Keppel Bay is on a 99-year leasehold project starting from 2007. It is not subject to rules that stipulate that the developer has up to five years to build the project and then has to sell all the units within two years of getting the temporary occupation permit.

The most popular units sold at the Corals at Keppel Bay had been the one to three bedrooms. For the discerning home owner, a selection of four bedrooms and penthouses facing Resorts World and Sentosa are available.

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