Auction Advantages

SENTOSA COVE ADOPTS AUCTION AS NEW MODE OF SALE
Open & Immediate Process for Prime Hillside Bungalow Parcels also serve to Benchmark Prices

"Sentosa Cove will be adopting yet another method of sale which will once again be synonymous with transparency and immediacy…”

"For an on-the-spot sale, Sentosa Cove will be using the auction, envisioned to be similar to those organized by world-renowned Christie’s and Sotheby’s. This is to benchmark prices for its well sought-after and prime hillside bungalow land parcels, offered for the very first time.”

“With strong demand for the hillside bungalow land parcels, the auction process will ensure transparency and allow an on-the-spot allocation of the land parcels to home purchasers in a competitive environment.

Furthermore, homeowners will have the opportunity to bid for and secure adjoining bungalow land parcels with more ease via the auction mode of sale.”

“The auction … combines the fairness of the tender format in benchmarking prices for bungalow land parcels which have never been introduced previously with the openness of the private treaty,” Ms Jennie Chua, Chairman of Sentosa Cove, said.

In a situation like Sentosa Cove where the demand far exceeds supply, the allocation of these limited once-in-a-lifetime property land parcels must be fair, open and immediate, and in my opinion, the auction is the only mode of sale that has such strengths,” Ms Chua added.”

Source: Sentosa Cove Media Release, 13 May 2005