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Kong Hee puts Sentosa Cove home for sale

BuiKia

Alfrescian (InfP)
Generous Asset
ST20150702KONG021469379-daa4o.jpg


City Harvest Church (CHC) founder Kong Hee has put his luxurious penthouse family home in Sentosa Cove up for sale.

Former CHC executive member Jean-Jacques Lavigne said he was delighted with Ms Ho's Crossover work in the United States.

He and a co-owner are asking a cool $10 million for the duplex unit, more than the $9.33 million they paid in 2007.

Kong and five others are alleged to have misused $50 million of church funds and then falsified church accounts to cover up the misuse. They are accused of funnelling millions from the church's building fund to pay for the Crossover Project, to boost the music career of Kong's wife Ho Yeow Sun.

In a trial spanning two years, the court heard that the 50-year-old pastor, who is facing three charges of criminal breach of trust, co-owned The Oceanfront penthouse with Indonesian tycoon Wahju Hanafi.

Mr Hanafi had told the court that he and Kong each paid monthly instalments of $17,000 for the Sentosa property. Kong lives in the penthouse in Ocean Drive with his wife, 45, and 10-year-old son Dayan. The $9.33 million purchase price in 2007 translated to $1,780 per sq ft.

An investor who has visited the penthouse described the property and its furnishings as "lavish and opulent".

The investor, who asked not to be named, said: "The home is decorated with quality furniture and top of the range equipment. It gives me the impression that the owner sure knows how to enjoy the high life."

The online advertisement is simple: "Duplex penthouse with pool/ jacuzzi. Views span city, marina and sea. Full resort-style condo facilities."

The ad does not give the identity of the owner.

But a property ownership check with the Singapore Land Authority shows that the penthouse is co-owned by Kong and Mr Hanafi.

The 5,242 sq ft duplex comes with a huge rooftop infinity pool and overlooks the upmarket One Degree 15 Marina Club.

A property agent said the unit boasts spectacular views of luxury yachts entering the marina and the city's skyline, and of fireworks during festivities.

A private lift takes visitors to the 11th-storey penthouse featuring four rooms on the first level - a master bedroom and other rooms.

The living and dining areas have giant crystal light fixtures and works of art.

A walk-in wardrobe connects the master bedroom to a huge bathroom with a jacuzzi. The wardrobe area also features two watch display cabinets filled with fine timepieces from Cartier and Bvlgari.

A spiral staircase in the dining area leads to an entertainment area on the second level and a roof terrace with a huge infinity pool.

One agent said Kong would be able to vacate the unit as early as September, the same month he is expected to return to court, when both the prosecution and defence will be making closing submissions ahead of a verdict.

The Straits Times understands more than one property agent is marketing the penthouse. Offers have been made but none so far has matched Kong's asking price.

The last time an Oceanfront penthouse was sold, in April 2010, the single-storey 4,510 sq ft unit went for $7.5 million, or $1,663 psf. A 4,112 sq ft single-storey penthouse on the 10th floor with a full sea view is on the market for $9.5 million.

The investor who saw Kong's property, along with other units, said: "The agent tried to persuade me to make an offer and sweetened the deal by saying that if I buy the penthouse, the owner would take me out to sea on his yacht."

DEAL SWEETENER

The agent tried to persuade me to make an offer and sweetened the deal by saying that if I buy the penthouse, the owner would take me out to sea on his yacht.

The investor who saw Kong Hee's property, along with other units at The Oceanfront
 

dancingshoes

Alfrescian
Loyal
According to the article

"He and a co-owner are asking a cool $10 million for the duplex unit, more than the $9.33 million they paid in 2007."

seems like that they are not going to make much from property sale, it's better to con his church followers which is more lucrative.
 

lifeafter41

Alfrescian (Inf)
Asset
I see someone is preparing to run road. :wink:

It's is just unbelievable, a pastor being able to afford a 10kk house. While his flock/followers live in hdb/condo.

Even with a 2 million down, 8kk loan at 1% with 25yrs duration, needs to pay at least 30k per month. From a tdsr point, he needs to be making at least 100k per month to qualify. I believe, not only me, but most of his followers are in the wrong line. Should have been a pastor, closer to God some more, everyday can chit chat with HIM.
 

Froggy

Alfrescian (InfP) + Mod
Moderator
Generous Asset
According to the article

"He and a co-owner are asking a cool $10 million for the duplex unit, more than the $9.33 million they paid in 2007."

Take in consideration of the cost of furnishing plus interest since 2007 I think they are all fucked big time.
 

Dark Knight

Alfrescian (Inf)
Asset
Probably several of those CHC followers began to "wake up" already and lesser donations going into their pockets to fund and sustain their lucrative lifestyle these days.
Hence KH got no choice but to sell it off as he realize that he can no longer service the loan.
Who knows he may end up selling off his property in US too.
 

CABcommander

Alfrescian
Loyal
The investor, who asked not to be named, said: "The home is decorated with quality furniture and top of the range equipment. It gives me the impression that the owner sure knows how to enjoy the high life."


The living and dining areas have giant crystal light fixtures and works of art.

A walk-in wardrobe connects the master bedroom to a huge bathroom with a jacuzzi. The wardrobe area also features two watch display cabinets filled with fine timepieces from Cartier and Bvlgari

Lets not forget to read the details:biggrin: CHC many many idiots funding him. Huat Ah.
 

golden tongue

Alfrescian
Loyal
The investor, who asked not to be named, said: "The home is decorated with quality furniture and top of the range equipment. It gives me the impression that the owner sure knows how to enjoy the high life."


The living and dining areas have giant crystal light fixtures and works of art.

A walk-in wardrobe connects the master bedroom to a huge bathroom with a jacuzzi. The wardrobe area also features two watch display cabinets filled with fine timepieces from Cartier and Bvlgari

Lets not forget to read the details:biggrin: CHC many many idiots funding him. Huat Ah.

Wondering how many GOLD TAPS AND GOLDEN TOILET BOWLS inside.
 

leetahbar

Alfrescian
Loyal
is this outrageous news enough to awaken his seriously warped holey minions to stop their donations and maybe claim back what kong hee fatt choy has conned from them monthly?

maybe there might be mass suicides from those deeply poisoned holey minions.
 

Dark Knight

Alfrescian (Inf)
Asset
is this outrageous news enough to awaken his seriously warped holey minions to stop their donations and maybe claim back what kong hee fatt choy has conned from them monthly?

maybe there might be mass suicides from those deeply poisoned holey minions.

There's a reason why people keep saying that most sinkies are daft as majority of them don't bother to ask or even want to know where all their "donations" gone to.
The "golden tap" aka peanut butter saga" few years back was a real good example.
 

Narong Wongwan

Alfrescian (Inf)
Asset
Probably several of those CHC followers began to "wake up" already and lesser donations going into their pockets to fund and sustain their lucrative lifestyle these days.
Hence KH got no choice but to sell it off as he realize that he can no longer service the loan.
Who knows he may end up selling off his property in US too.

I doubt so but I really like to see those gong cheebye faces when they read the reports and see the photos of their pastor's lifestyles of the rich and famous.....which they directly helped fund......
Especially those hardcore gong cheebyes who donated their hdb flat sale proceeds and monthly 10% income etc.
but like I said many will be like the 60.1%.....still living in ignorant bliss
 
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