Monthly Archives: March 2010

Next hot project: Mongolian flats?

Posted on 25 Mar 2010 | Comments Off on Next hot project: Mongolian flats?

MONGOLIA might not be the first name that pops to mind when it comes to luxury property investments, but one development there is already attracting keen interest from Singaporeans – with about 80 enquiries ahead of its launch here this weekend.

Called the Olympic Residence, it sits in the town of Ulaanbaatar between The Hilton and the Shangri La hotels and will be priced at an average of $360 psf.

Each apartment ranges from about 1,500 square feet to 1,940 square feet, which works out to about $540,000 for its smaller units. All 135 units – which range from 2 to 7 roomers – will be located in one 18-storey building, which will be divided into three wings.

It is developed by Asia Pacific Investment Partners (APIP), a firm incorporated in Hong Kong with principal activities in Mongolia. It is working with CB Richard Ellis to launch the property in Singapore and will be completed in December next year.

APIP’s chairman and managing director Lee Cashell said that investors, can expect a rental yield of 14 per cent.

Apart from residences, the development will also come with retail and food and beverage outlets, which will be located on the first to third floors of the building.

Mr Cashell added that the property is an unmovable property asset in Mongolia, which under the law prevents the development from being taken away or knocked down without the owner’s consent.

About 10 apartments have been sold so far, while one Singaporean has bought two apartments before the launch.

Olympic Residence will be launched this Saturday and Sunday at the Marriott Hotel’s Lengkuas Room from 10am-6pm on both days. For more information on the development, please go to http://olympic.mongolia-properties.com/

Source : Business Times – 25 Mar 2010

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Posted in Overseas Property

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Naked body found in Sentosa Cove pool

Posted on 25 Mar 2010 | Comments Off on Naked body found in Sentosa Cove pool

The body of China national Li Hong Yan was found floating in the lap pool of the bungalow yesterday. –PHOTO COURTESY OF LIANHE WANBAO READER

THE naked body of a young woman was found in the lap pool of a bungalow in an exclusive Sentosa residential estate yesterday morning.

The body of 24-year-old Li Hong Yan, a China national who is believed to have drowned, was found floating face-down in the pool at the back of the Sentosa Cove house by a maid at about 8am.

Paramedics pronounced her dead over an hour later.

She is believed to have spent the night at the house with its owner, Mr Adrian Chua Boon Chye, after they met at a party on Tuesday evening.

Ms Li had arrived in Singapore on Nov 10 last year and started working the following month as a catering supervisor at a restaurant and catering business in Tuas.

Mr Chua, 39, is the founder and chief executive officer of Roundhill Capital, a real estate investment advisory firm, registered here under his residential address.

He is unmarried and is said to have lived at the three-storey house along Ocean Drive for over a year.

Calls made to both his home and mobile phone yesterday went unanswered.

While little is known about how Ms Li drowned, police said that there are no indications of injuries on her body.

Residents at the posh waterfront estate, where houses can cost up to $16 million or more, said they noticed nothing amiss until police cars pulled up in front of the bungalow just before 10am.

Mr Chua appeared to have kept to himself as few of his neighbours knew him. Many were also unaware of what had happened just hours before.

Ms Li’s employer at the Tuas restaurant and catering business told The Straits Times that her performance at work had been ‘unsatisfactory’ and that she had a poor command of English.

She was later transferred to work 12-hour shifts at a branch of the restaurant in Jalan Besar, where she stayed in its rear living quarters.

But she packed up and left on Feb 6, telling her employer that she was going back to China to celebrate Chinese New Year.

She did not say when she would return.

Those who knew her described her as ‘pretty’. They said they were not aware of what she did in her free time.

Police have classified the case as an unnatural death.

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Posted in Sentosa Property

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