Luxury properties seized in S$3 billion money laundering case fail to sell at auction

A two-bedroom plus study unit at Gramercy Park draws the most interest, with the highest bid at S$3.75 million

[SINGAPORE] A two-bedroom plus study apartment at Gramercy Park drew the keenest bidding among seven properties seized in connection with Singapore’s S$3 billion money laundering case, but failed to sell under the hammer on Thursday (Sep 17).

All seven properties – four apartments at Gramercy Park, two at Sloane Residences and an office unit at Suntec Tower One – were withdrawn after failing to meet their reserve prices, which were not disclosed.

The Knight Frank auction at Ocean Financial Centre drew 65 attendees, including 30 registered bidders. The rest were walk-ins.

The room was packed, with some attendees standing at the back.