Kampong Java Bid CELH Development Kopar at Newton

There is no question that Kampong Java Road is some prime real estate. It is where many different million-dollar properties are located. If you are in Singapore, then one of the tell-tale signs that you have “made it” would be acquiring one of these properties. This is why CELH Development was proud to announce their new acquisition in this neighborhood last January. They were awarded a 125,326.56 square foot tract of land by the URA. CELH Development is also excited by this new acquisition because this real estate is going to be utilized to constructed 400 new condo units. This new development could potentially provide housing to literally thousands of people, especially considering that Singapore continues to grow in population.

Kampong Java Bid by Kopar at Newton Condo

The bidding on this tender was very competitive. It actually received seven bids, and the winning bid by CELH Development was $418.4 million. CELH Development is well-known within the property development industry for being a heavy hitter, and they are also just a unit of the Chip Eng Seng Corporation. They faced some heavy competition from the second-place bidder, that of GLL D, which is a subsidiary of GuocoLand. Their bid was $417.2 million, and the third-place bidder was Greatview Investment’s MCC Land at a bid of $407.9 million.

Kopar at Newton Newton MRT Station

This real estate offering was put up for sale just a few months prior to this transaction being final. It was listed with a 99-year leasehold designation, and this listing possesses a total land-area of 11,643.2 square meters. When you consider that it also has a maximum permissable gross floor and living area of 32,601 square meters, this was definitely a solid investment.

Chip Eng Seng Real Estate Developer

However, this wasn’t the only property investment transaction that has recently been accomplished. A nearby transaction by another property development heavy hitter merits some analysis as well. A 5,121.4 square meter tract of land that was designated as a new hotel site also attracted a significant number of tenders. The property was won by MidTown Development, a company that is part of the WorldWide Hotels Group. They placed a bid of $562.2 million for the property, and they were the top bidders out of eight companies vying for the spot. Of course, in this situation the URA was careful in their words, noting that this is not an “announcement of tender.” They also announced that they will have to fully evaluate all of the bids before they go forward with a decision on the tenders.