MEDIA RELEASE

SENTOSA COVE’S TREASURE ISLAND SNAPPED UP
Higher Prices Paid for Island Reflect
Strong Demand for Unique Waterfront Lifestyle

Singapore, 11 November 05 – Individual home buyers have snapped up all 19 bungalow land parcels on Sentosa Cove's Treasure Island. This is the third and last island situated at its Northern Precinct and is conveniently located next to Sentosa Cove's $80 million marina as well as its quayside commercial and retail hub.

The 19 land parcels were sold on a private treaty basis to a group of 18 individual buyers. The total purchase price was $308psf for the 18,084sqm island.

"This upward trend in the value of our islands reflects a strong demand from individuals seeking a unique lifestyle that only Sentosa Cove offers," Margaret Goh, General Manager of Sentosa Cove, said.

"Our decision to release the land parcels on Treasure Island for sale in the retail market was to cater to the strong demand by individual home owners seeking to build and design their very own personalised bungalow villas with private berths," Ms Goh said.

53 per cent of the plots were sold to foreigners from Malaysia, China and Hong Kong.

Treasure Island will house 19 waterway bungalows where homeowners have the luxury of mooring their private yachts at their backyards. The sizes of the bungalow parcels range from 778.4sqm to 1,297sqm.

Since its first launch in October 2003, a total of 189 bungalow lots have been sold, representing 88 per cent of the total number of bungalow lots in its Northern Precinct. With the exception of Paradise and Coral Islands, all bungalow lots in Sentosa Cove have been sold in the retail market on an individual basis.

Bungalow land values on Sentosa Cove have appreciated by 50 per cent on an average since from March 05 onwards – after Sentosa Cove launched its private treaty method of sale.