Su Haijin's vacant 99-year leasehold plot at 143 and 145 Cove Drive is listed for sale with a guide price of $23.65 million, with bids due by November 12. Su Haijin, a Cypriot national, was arrested in August 2023, and a significant portion of his assets were ordered for forfeiture in April 2024.
Lin Baoying's two bungalows at 38 and 40 Ocean Drive are being offered together at a guide price of $22.8 million, with bids closing on October 29. Zhang Ruijin's bungalow at 13 Pearl Island, featuring five bedrooms and a private swimming pool, is listed at $15.68 million, with bids due by October 15. Zhang and Lin were each sentenced to 15 months in jail for money laundering and forgery.
These properties are part of over $3 billion in cash and assets seized in connection with the Commercial Affairs Department's probe. The expression of interest (EOI) sale process is being managed by List Sotheby’s International Realty, aiming to gauge market interest from potential investors.
Other Sentosa properties linked to the case, including one owned by Wang Bingang, a cousin of a convicted individual, are also being liquidated. A luxury apartment owned by Zhang Ruijin at Wallich Residence was previously sold at auction for $6.6 million.
These seized assets are being progressively put up for sale between September 2026 and mid-2027, with all proceeds going to the government's Consolidated Fund. The sale of these landed homes in Sentosa Cove occurs amidst a market where foreign buyers face significant Additional Buyer’s Stamp Duty and require specific approvals.