CEL Grandeur Park in the news

Grandeur Park Residences in the News

grandeur park residences news chip eng seng

 

Excerpts from a Straits Time article published on 6 March 2017:

Grandeur Park Residences in Tanah Merah raked in strong sales on the first weekend of its launch, shifting 58 per cent of the total 720 units available.

Its developer CEL Development, a unit of Chip Eng Seng Corporation, said yesterday it sold 420 units, with most of the 96 one-bedders taken. “The sale performance is within our expectation,” said CEL Development, adding that the average price for units is around $1,350 per square foot.

Many buyers were attracted to Grandeur Park Residences location, citing its proximity to various amenities and potential pool of tenants from Changi Business Park.

 

Grandeur Park Residences by CEL

CEL has once again proven the quiet market wrong by selling 500 units out of the 720 units on its preview day. This splendid result proves that a good location, reasonable pricing in today’s market will still garner strong buyers’ interest. Besides the 2 strong attributes, CEL’s strong focus on communal facilities and a kid’s club offering free lessons such as violin, tennis, swimming lessons is a first of its kind. All of the above has once again work like magic for CEL’s great sales. The first for CEL was Junction 9, followed by High Park Residences and then Grandeur Park Residences.

 

As of today, 1 bedroom and 1 + Study has been fully sold. 2 bedroom units start from $890,000 and left with 19 units. 3 bedroom units start from $1,056,000 at only about $1,196 psf. 4 bedroom units start from $1,470,000 and 5 bedroom units start from $1,804,000. Note that penthouses here have a high ceiling of 4.2m and a furniture platform is built up ready in the second bedroom of the unit.

 

Grandeur Park Residences Pricing

In Feb 2016, after strong bidding from various developers for the land parcel, CEL Development won the bid for the 2.4ha residential site at New Upper Changi Road/Bedok South Avenue 3.  The land was sold at $419.38 million, which translates into $761 psf based on the gross floor area. Breakeven costs could be $1,250 to $1,300 psf, while the developer could aim to launch the condo at above $1,500 psf, said Mr Nicholas Mak, SLP International executive director.