MDA CEO buying $10 million Corals condo
DESPITE flat demand in the luxury market so far this year, at least two condominium units with a price tag of over $10 million each were sold over the past fortnight. 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. 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 took office last November and prior to that was 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.
"When we face problems, we acknowledge them publicly, and deal with them. We don't pretend there's no problem, no comments, studying the matter, thinking about it, will clarify one day. We settle now! You lie low hoping the public will forget the issue, and the issue will go away, the public will forget you, and might as well go away." - PM Lee