SINGAPORE, Sept 2 — Ten luxury condominiums linked to Singapore’s largest money laundering case will be auctioned this month, with guide prices ranging from S$2.238 million (RM7.1 million) to S$6.78 million.

The Straits Times reported that the properties are the first of more than 80 real estate assets tied to the S$3 billion case that will be progressively sold by authorities.

Six of the units are at Martin Modern in River Valley, comprising two-, three- and four-bedroom apartments measuring between 764 and 1,733 square feet, with guide prices starting at S$2.238 million and going up to S$4.98 million.

The development is within walking distance of Great World City and the Great World MRT Station on the Thomson-East Coast Line.

The other four properties are at Wallich Residence in Tanjong Pagar, comprising three- and four-bedroom units ranging from about 1,313 to 1,991 square feet.

Their guide prices range from S$4.42 million to S$6.78 million, with asking prices starting from S$3,347 per square foot.

SRI is the exclusive marketing agent for the 10 properties, which will be offered at an auction on September 23 at the agency’s Great World City office.

Edmund Tie & Company and Knight Frank have also been appointed to conduct auctions for other properties, while selected assets will be marketed by List International Realty through an expression-of-interest exercise.

Deloitte Singapore, appointed by the Singapore Police Force in 2025 to handle the disposal of non-cash assets forfeited in the case, said on Aug 29 that more than 80 properties would be progressively offered for sale.

The disposal programme also covers luxury goods, with auction house Hotlotz scheduling 15 auctions between September 2026 and May 2027, involving more than 1,000 items.

Its first two auctions on September 7 will feature more than 300 luxury handbags and accessories from brands including Chanel, Louis Vuitton and Christian Dior, as well as over 250 pieces of fine jewellery from brands such as Graff, Bulgari and Van Cleef & Arpels.

Proceeds from the asset sales will be channelled into Singapore’s Consolidated Fund, with about S$1.4 billion from seized bank accounts and other liquidated assets already paid into the fund by the end of the 2025 financial year.

The case began with coordinated police raids across Singapore on August 15, 2023, involving more than 400 officers and resulting in the arrest of 10 people suspected of links to organised crime, including scams and online gambling.

Authorities later identified another 24 people connected to those arrested and circulated their details to financial institutions and dealers in precious stones and metals for transactions involving them to be flagged and reported.

Police subsequently said 17 other people were under investigation, with many believed to be outside Singapore, including two men who were the subject of Interpol Red Notices.

Of the S$3 billion in assets associated with the case, about S$900 million was linked to the 10 people who were arrested and convicted, while the remaining S$2.1 billion was linked to the 17 people under investigation.