Kong Hee’s Sentosa Cove penthouse is back on the market with a heftier price tag

The living room in Kong Hee’s Sentosa Cove apartment
T. Margaret

If at first you don’t succeed, try again.

That seems to be the strategy for former City Harvest paster Kong Hee whose Sentosa Cove penthouse unit was relisted last week for S$11.5 million (US$8.6 million) – 15% higher than its $10 million pricetag when it was listed in 2015, reported The Straits Times.

The 5,242sq ft unit was bought and co-owned by Kong and Indonesian Wahju Hanafi for S$9.33 million in 2007.

Kong is currently serving a 3 1/2-year jail sentence for misappropriating about S$50 million of church funds.

The apartment was listed in 2015 but was unsold, and reportedly taken off the market before making an appearance recently at the higher price, which works out to $2,194 per sq foot (psf).

The owners’ agent Sally Soh, from KF Property Network, told The Straits Times that the higher asking price was a decision made by her clients, and it is still up for negotiation.

So far, three interested parties have viewed the apartment since its relisting.

Sentosa Cove was recently back in the news after a series of homes were sold at massive losses. For example, a unit at Seascape was sold in July for S$9 million, S$3.8 million lower than its original price of S$12.8 million.