http://www.businesstimes.com.sg/sub/...18340,00.html?
Published March 2, 2012
Sellers of Sentosa Cove unit revealed
Deepak Sharma, Susan Lim owned bungalow sold for record $39m
By CHEN HUIFEN
(SINGAPORE) The Sentosa Cove bungalow that was recently sold for a record $39 million had belonged to Citi Private Bank chairman Deepak Sharma and his surgeon wife Susan Lim.
Yesterday, BT reported that a seafronting landed property at Cove Drive had set a record selling price for a bungalow sold on Sentosa Cove. The previous record of $36 million was for a bungalow sold in 2010.
A source told The Business Times that Mr Sharma, a veteran banker who also co-chairs the Private Banking Industry Group (PBIG) in Singapore, had purchased the property and also arranged for its subsequent sale.
A land titles search by BT showed up Mr Sharma's wife's name. Dr Lim is known for performing the first liver transplant in Singapore. She made headlines last year when her attempts to block an inquiry by the Singapore Medical Council went to court. She took the case all the way to the Court of Appeal, which dismissed her appeal late last year. Two sets of lawyers were said to have been hired in the legal proceedings.
Mr Sharma, originally from New Delhi before becoming a Singapore citizen, married Dr Lim in 2000.
The search also unveiled the name of the buyer as a Shael Oswal. He is said to be from India and involved in the mining business.
Sentosa Cove has been drawing interest from foreign property buyers as it is the only place in Singapore where foreigners who are not permanent residents can buy a landed home. However, following the 10 per cent additional buyer's stamp duty on foreigners introduced last December, analysts were predicting a slight moderation of prices on Sentosa Cove bungalows.
Considering that the latest transacted site had a land area of 15,929 sq ft, the price works out to $2,448 psf. The 99-year leasehold property is reported to have five bedrooms, a spacious living area and an entertainment room.