MEDIA RELEASE

Singapore 's first and only beachfront condominium land parcel up for tender

SINGAPORE , 11 June 2007 – Perched on the southern-most corner of the sprawling Sentosa Cove neighbourhood, a parcel of prime land will be launched tomorrow that will reward the successful developer with bragging rights to create Singapore 's first and only beachfront residential apartments.

Called the Beachfront Collection, this rare and exceptional site sits on Sentosa Cove's gated community and is accessible only to residents, but overlooks Sentosa's Tanjong Beach. Measuring 113,797sqft (10,572sqm) in size with a maximum permissible gross floor area of 149,074sqft (13,849.32sqm), it is envisaged that a 4-storey condominium offering up a maximum of 88 luxury apartments will emerge.

Developers will be delighted to know that the Beachfront Collection offers Singapore 's first and only opportunity to conceptualize and build a truly unprecedented development with distinctive attributes. The one-of-its-kind location at Sentosa Cove's gated Southern Precinct affords superb views of Sentosa's Tanjong Beach , the sea, or the Tanjong Golf Course's lush green fairways.

The Beachfront Collection tender will be based on price.

Mr Gurjit Singh, Group Director for Sentosa Properties said, “this Beachfront Collection is really a case of ‘never before, never again'. We expect developers to capitalise on the land parcel's stunning all-round views to create an exceptional development that offers residents a truly differentiated tropical beachfront lifestyle. Where else can you offer that kind of lifestyle except here at Sentosa Cove?”

Since this is the penultimate condominium parcel available for sale at Sentosa Cove, Sentosa Cove is optimistic that the Beachfront Collection will attract strong interest from major local and overseas developers keen to create a showcase project that is literally on the beach. The tender will close 24 July 2007.

Particularly significant to interested foreign developers is the exemption from having to apply for a Qualifying Certificate – previously required under Section 31 of Singapore's Residential Property Act and a waiver to furnish a security bond.

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