Envision this: the government is auctioning off S$4 million condos like they’re clearing stock at a Toa Payoh pasar malam. Except this isn’t clearance sale for fun. This is the aftermath of Singapore’s biggest money-laundering bust ever, and the taxpayer is about to see some of that dirty money turned into clean government revenue.
Here’s the lineup. On 23 September, ten luxury units from Wallich Residence and Martin Modern go under the hammer at SRI’s Great World City office. A few days earlier, on 17 September, Knight Frank at Ocean Financial Centre handles four Gramercy Park units, two Sloane Residences units, and a Suntec Tower One office.
Edmund Tie & Company joins in too, running additional lots from UIC Building on the same day as the first batch. Online bidding opens 7 September at 10am and shuts 20 September, 4pm. And this is just the opener—the full programme runs from September 2026 clear through to May 2027, covering more than 80 assets. That’s longer than most BTO waiting times. Deloitte Singapore, appointed by the Singapore Police Force, is the firm tasked with managing and realising these assets.
Now, the prices. Wallich Residence: S$4.42 million to S$6.78 million. Martin Modern: S$2.238 million to S$4.98 million. Gramercy Park: S$3.8 million to S$7.6 million. Sloane Residences: a tighter band, S$3.6 million to S$3.7 million.
South Beach Residences tops the chart—S$4.45 million to a staggering S$25.32 million. The lone office piece, Suntec Tower One, 3,498 sq ft of Grade A space, carries a guide price of S$11.5 million.
Zoom out and the numbers get almost unreal. Police seized:
- S$1.4 billion in cash
- S$1.25 billion in non-cash assets
- 207 properties, 77 vehicles
- 68 gold bars, 483 designer bags, 169 watches
- Over S$38 million in crypto
S$1.4 billion has already gone to the Consolidated Fund. These auctions should add several hundred million more. The target? Clawing back the full S$3 billion estimated illicit gain. The original probe kicked off with an islandwide raid on Aug 15, 2023, which eventually led to the arrest and deportation of ten foreigners. Among the 105 properties initially frozen, many were high-end condominiums and commercial spaces subject to prohibition of disposal orders issued as part of the investigation.
