planFour Homes Linked to Convicted Money Launderers Seek S$62.13m
Three Sentosa Cove offerings include Su Haijin’s cleared Cove Drive plot and three waterfront bungalows.
A pair of bungalows once linked to convicted money launderer Su Haijin has disappeared from Cove Drive. In its place is a combined 18,740 sq ft waterfront plot, now seeking S$23.65 million.
It is one of four Sentosa Cove properties linked to three offenders from Singapore’s 2023 money-laundering crackdown that have entered the market. Their guide prices add up to S$62.13 million—an eye-catching figure, but not a sale result or money already recovered by the State.
Four properties, but three separate offerings
The properties are being marketed through three expressions of interest, or EOI exercises. An EOI invites interested buyers to submit offers by a deadline, after which the seller can negotiate, accept an offer or decline to proceed.
Here is what the combined figure contains:
| Offering | Property | Guide price | EOI deadline |
|---|---|---|---|
| Cove Drive site linked to Su Haijin | Cleared 18,740 sq ft plot formerly comprising 143 and 145 Cove Drive | S$23.65m | 3pm, 12 Nov 2026 |
| Property linked to Zhang Ruijin | Two-storey waterfront bungalow at 13 Pearl Island | S$15.68m | 3pm, 15 Oct 2026 |
| Properties linked to Lin Baoying | Two waterfront bungalows at 38 and 40 Ocean Drive, marketed together | S$22.8m | 3pm, 29 Oct 2026 |
The addresses, property descriptions, guide prices and deadlines were reported when the EOI exercises emerged on 5 October 2026.
The arithmetic is simple: S$23.65 million + S$15.68 million + S$22.8 million = S$62.13 million. This is mastREplan’s addition of three advertised guide prices, not a formal valuation of one portfolio.
There is also a practical difference hidden inside the total. A buyer of the Cove Drive offering would be bidding for cleared leasehold land, while the Pearl Island and Ocean Drive offerings comprise three standing homes.
Based on the supplied land area and guide price, the Cove Drive figure works out to about S$1,262 per sq ft of land. That calculation helps put the asking figure on a common unit basis, but it remains derived from a guide price rather than an agreed transaction.
Why Su Haijin’s former address stands out
The Cove Drive site has the highest guide price of the three offerings. It was formed by combining the former 143 and 145 Cove Drive plots, both held on 99-year leases, after the two houses were cleared.
Its former owner, Su Haijin, was arrested during the islandwide police operation on 15 August 2023. He was convicted on 4 April 2024 of resisting arrest and money-laundering offences and sentenced to 14 months’ jail.
The court also ordered the forfeiture of more than S$165 million in assets linked to Su, his wife and his companies. Police said the assets included cash, properties, vehicles, jewellery, luxury goods and alcohol.
The other offerings have similarly direct links to people convicted in the case. Zhang Ruijin was sentenced to 15 months’ jail, with about S$118 million in assets forfeited to the State. Lin Baoying also received 15 months’ jail, while approximately S$154 million of her assets was forfeited.
Part of a much larger disposal programme
These Sentosa Cove listings are only one part of the effort to turn forfeited non-cash assets into money. The police appointed Deloitte Singapore to manage and realise assets from the wider case, including properties, vehicles, jewellery and luxury goods.
More than 80 properties are expected to be sold in phases between September 2026 and mid-2027. Selected properties are being marketed through an EOI process, while other forfeited assets are going under the hammer.
The wider scale is substantial. As at 31 December 2024, about S$2.79 billion in assets connected with the case had been surrendered to the State. When forfeited non-cash assets are liquidated, the proceeds are paid into Singapore’s Consolidated Fund.
That broader number should not be confused with the amount these four properties might eventually fetch. Their actual contribution will depend on accepted offers and completed transactions.
The first deadline comes on 15 October
No buyer has been announced for any of the four properties, and the three guide prices do not oblige bidders to match them. The seller can negotiate after submissions close or decide not to accept the offers received.
The first concrete development will be the EOI deadline for 13 Pearl Island at 3pm on 15 October 2026. The two Ocean Drive homes follow on 29 October, before the cleared Cove Drive site closes on 12 November.
Until an offer is accepted and a transaction completed, S$62.13 million remains the combined sum being sought—not the amount raised.
