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.
Xtron Productions is like CHC's own GIC. You know, in Singapore, we have GIC? Every time you ask the Government what is GIC, they say "national security, we cannot make it known to everybody." You have to keep this among us, because the last thing we want is for the whole world to be talking about this.
- Kong Hee, August 2008 speech during extraordinary meeting