Plot once owned by Cambodian money launderer sold after legal complications.
A Sentosa Cove plot, previously owned by Cambodian money launderer Su Baolin, has been sold for $22 million to Mr. Benedict Beh Wei Hao, according to documents seen by The Straits Times. The 1,816.3 sq m land, located at 69 Ocean Drive, offers unblocked sea views and a prime location near the Central Business District. The price, approximately $1,125 per square foot, is considered a good deal in the current market.
The plot was part of Su’s assets, which were seized after he was arrested in a large-scale money laundering investigation in 2023. Prior to his arrest, Su had demolished an existing bungalow on the site, with plans to build a new two-storey house. The land had been acquired by Su for $39.33 million in 2021, a price of $2,012 per square foot.
The bank, OCBC, which took legal action against Su for unpaid debts, accepted a private offer for the property in July 2024, after failed auction attempts. The sale of this plot is now expected to set a new benchmark for seafront-facing land in Sentosa Cove, a luxury real estate area. However, the new owner will likely incur additional costs exceeding $16 million to construct a new property.
