New owner to use S$39m Sentosa bungalow as ‘weekend retreat’

Remember Dr Susan Lim’s bungalow at Sentosa Cove which sold for a record S$39 million last month?

Well, the new owner plans to use it only as a weekend retreat.

The buyer was earlier revealed to be Shael Oswal, a 33-year-old Indian citizen in the mining business who moved to Singapore in late 2009 and stays around Grange Road.

In an interview with Indian tabloid Tabla!, Oswal, a father of two, said it would be tedious for his children to travel to school from Sentosa every morning. His nine-year-old daughter and seven-year-old son are students of Tanglin Trust School.

"It is an investment for weekends,” he reasoned. “I can take the children to Sentosa and when we get tired we can stay there."

When asked if he plans to buy a yacht next, Oswal jokingly told the tabloid he will have to leave that for another time as “already this is a huge investment”.

His mother and wife took up the property search after he decided they needed a place for weekend getaways.

"They saw a few in Sentosa but this one is in a very beautiful location. The sea view is great," Oswal said, before adding that some renovation still needs to be done. He has since entrusted the work to an Italian firm and is waiting for his new house at Cole Drive to be ready in three months.

The hefty price tag for the 99-year leasehold property works out to S$2,448 psf for a land area of 15,929 sq ft. The bungalow reportedly features a spacious living area, five bedrooms and an entertainment room.

Earlier this year, Property Guru reported that the seafront property had previously belonged to Citi Private Bank chairman Deepak Sharma and his well-known surgeon wife Susan Lim, who is currently embroiled in a legal dispute with the Singapore Medical Council. The couple married in 2010.

Prior to becoming a Singapore citizen, Sharma was an Indian national.

Sentosa Cove is the only place in Singapore where non-PR foreigners are allowed to buy landed homes.

  • Nissan tests self-cleaning paint that could make car washes obsolete 1 hour 7 minutes ago
    Nissan tests self-cleaning paint that could make car washes obsolete

    During this vile, never-ending winter, motorists had three options to keep their cars clean: Shell out on regular car washes; slave away in the cold, wind and snow washing it yourself, or screw it and just drive a dirty car. I, like many, chose the last option. But if only I'd been able to test Nissan's self-cleaning car, all my troubles would have washed away.

  • Popular hot yoga myths debunked 7 hours ago
    Popular hot yoga myths debunked

    What’s the hottest new workout taking the world by storm? That would be hot yoga, also known as Bikram yoga. Conducted in a heated room with sweltering temperatures of about 40°C (or approximately 104° Fahrenheit) and 40 per cent humidity, … Continue reading →

  • Thursday #sgroundup: Body found of boy who made first call from Korea ferry: report 8 hours ago
    Thursday #sgroundup: Body found of boy who made first call from Korea ferry: report

    Here are today’s top trending stories in case you missed them.

  • Photo of a very thin Lee Kuan Yew sparks concern
    Photo of a very thin Lee Kuan Yew sparks concern

    A new picture of Singapore's first prime minister, Lee Kuan Yew, who is now 90 years old, has drawn concern from people on Singapore's internet space.

  • Waste oil collector struggles after STOMP posts, receives help from kind souls
    Waste oil collector struggles after STOMP posts, receives help from kind souls

    After being photographed at work in Jurong pooling used oil near coffee shops, 50-year-old Valerie Sim has been struggling to keep her family afloat. Web portals STOMP and The Real Singapore published pictures of her in February, triggering a witch hunt for others like her and comments from readers like “Who knows if they’ll use it as cooking oil?” Some readers also said they filed police reports against her and other people they believed were doing the same thing she was.

  • I tendered my resignation without securing the next job. Here’s why I don’t mind.
    I tendered my resignation without securing the next job. Here’s why I don’t mind.

    I have committed a taboo – I have tendered my resignation without securing the next job. The reactions to the announcement were varied but they all pretty much hint at a deep sense of disapproval. “Why did you do that?” It was as if I had renounced my faith. “What are you going to do from now on?” Almost as though a misfortune had incapacitated me. “What does your family have to say about it?” As if I had offered to cook for the next family dinner. I was, and still am, certain of my reasons and motivations for the resignation. However the response I received got me thinking about why people are so concerned about the gaps in their careers. The developed world evolved from an agricultural economy to an industrial economy to the service age, then to the knowledge economy in the late 1990s and 2000s marked by breakthroughs in technological innovations and competition for innovation with new products and processes that develop from the research community. According to The Work Foundation, the knowledge economy is driven by the demand for higher value added goods and services created by more sophisticated, more discerning, and better educated consumers and ... The post I tendered my resignation without securing the next job. Here’s why I don’t mind. appeared first on Vulcan Post.