MEDIA RELEASE

SENTOSA COVE INVITES OFFERS FOR FINAL BUNGALOW LAND PARCELS

SINGAPORE, 21 August 2007 – With only a small handful of bungalow land parcels left in the development, Sentosa Cove will be inviting offers for three highly coveted bungalow land parcels – two waterway plots with the luxury of mooring their private yachts in their backyards and one that boasts dual views of Sentosa Golf Club's scenic Tanjong Golf Course and the sea.

To be launched on Thursday, 23 August, this is Sentosa Cove's FINAL release of its prime bungalow land parcels with unobstructed views of the waterway, fairway and the Southern Islands.

With land parcels ranging from 644sqm to about 1,000sqm, interested homeowners would only need to submit their highest offer on 4 September at Sentosa Cove's Sales and Information Centre.

The last Expression of Interest exercise in July saw more than 10 bids for four bungalow land parcels, comprising one fairway and three waterway plots. The average price attained for the waterway parcels was $1,095psf. Prices for all three waterway land parcels surpassed the last benchmark price of $960psf and a new benchmark of $1,233psf was achieved at this exercise for its waterway bungalow land parcel.

A new benchmark for a fairway land parcel of $1,065psf was also attained at this recent EOI, surpassing the last benchmark price of $910psf by 17 per cent.

Following this EOI, Sentosa Cove will only have two fairway bungalow land parcels available for sale to individual homeowners. The rest of the 113 bungalow land parcels would be totally sold out, making this the last opportunity for homeowners who have a penchant for resort living to purchase a home at Sentosa Cove. (These 115 bungalow land parcels exclude Sandy and Pearl Islands.)

The decision will be based solely on price.

Land parcels remaining at Sentosa Cove currently include Pearl Island and what is probably THE most coveted condominium parcel in Sentosa Cove history, known as C13, located at the mouth of the marina. Both parcels, which will form the finale of land sales at Sentosa Cove, will be launched in the last quarter of 2007.

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