MEDIA RELEASE
Sentosa Cove Awards Sandy Island to YTL Corporation & LP World
SINGAPORE, 7 March 2007 – Sentosa Cove has awarded one of its last two islands, Sandy Island, to YTL Corporation Berhad – one of the largest companies listed on the Bursa Securities Malaysia Berhad and Malaysia's leading integrated conglomerates – and LP World Sdn Berhad, another Malaysian property and retail developer for $89.7 –million, or $617per square foot for the 13.512sqm plot.
YTL Corporation Berhad and LP World Sdn Berhad will undertake the development of 19 luxury villas on this site. This will be YTL Corporation Berhad and LP World Sdn Berhad's second foray in property development within Sentosa Cove – the first being the Lakefront Collection awarded last September at $378 psf, where a row of lifestyle bungalows overlooking the Serapong Lake will be developed.
The expression of interest for Sandy and Pearl Islands was launched on 26 October 06 and good offers were received for both islands from a total of seven developers – all of whom submitted offers above the given reserve price. Sentosa Cove has decided to award Sandy Island as the offer represents the strongest one received.~ END ~
Issued by Sentosa Cove Pte Ltd
For more information (media only), please contact:
Sentosa Cove
Robin Goh
Communications Manager
Tel: 6279 1776
Fax: 6275 0161
Email: robin_goh@sentosa.com.sg