Saturday, March 10, 2012

Top banker owned S$39m Sentosa Cove bungalow

Mar 2, 2012 - The bungalow at Sentosa Cove (pictured) sold for a record S$39 million was once owned by Deepak Sharma, Chairman at Citi Private Bank and his wife Susan Lim, a well-known surgeon, reported The Business Times.

The sea-fronting property achieved the highest selling price ever for a bungalow on Sentosa Cove, exceeding the previous high of S$36 million set in 2010.

Sharma, a veteran banker, and also co-Chairman at the Private Banking Industry Group (PBIG), bought the property and negotiated for its eventual sale, according to a source. Prior to becoming a Singapore citizen, he was an Indian national. He married Dr. Lim in 2000.

Dr. Lim is believed to be the first surgeon in Singapore to perform a liver transplant. She also made news last year when she attempted to block an inquiry by the Singapore Medical Council. The case went all the way to the Court of Appeal but was dismissed.

Meanwhile, the buyer was revealed to be Shael Oswal, an Indian citizen involved in the mining business.

The S$39 million price tag for the 99-year leasehold property works out to S$2,448 psf for a land area of 15,929 sq ft, and features a spacious living area, five bedrooms and an entertainment room.

Sentosa Cove is the only area in Singapore where non-PR foreigners are allowed to buy landed homes.

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