CEL Development is a unit of Chip Eng Seng Corporation, which is a major property development and construction group that is currently listed on the Stock Exchange of Singapore.
Billionaire couple of Sing Hai Yi (SHY), Gordon Tang & wife Celine Tang, is majority share holder of Chip Eng Seng too. https://www.forbes.com/profile/gordon-tang/#5d6690635962
The financial statement of CES and SHY are readily available as they are listed.
The Group’s construction business is undertaken by Chip Eng Seng Contractors (1988) Pte Ltd (CESC) and CES Engineering & Construction Pte. Ltd. while CEL Development Pte. Ltd. (CEL) is its property investment and development arm.
The history of Chip Eng Seng Group goes all the way back to the 1960s, when its founder, Mr. Lim Tiam Seng started the business as a building subcontractor for conventional landed properties. With competitive pricing and quality work, the business grew and the company began taking on the role of the main contractor.
In 1982, the company won its first Singapore Housing and Development Board (HDB) project as the main contractor. With that, the company continued to establish its position in HDB public housing construction.
In the 1990s, the Group diversified into property investment and development of residential, commercial and industrial properties. Today, Chip Eng Seng is one of Singapore’s leading construction and property group with businesses spanning across construction, property development and property investment.
CES has won the “Most Transparent Company – Construction Category”, of the Investors’ Choice Awards organized by the Securities Investors Association (Singapore) (SIAS) over the past few years. These awards attest to our commitment to corporate transparency.
With a long list of well-known developments in Singapore including Park Colonial, Parc Komo, The Suites at Central and others, residents and investors can be sure that the Kopar at Newton condo will be yet another world class project from CEL.
CEL has a very good track record, based on their past few projects, early purchasers have all earned a good appreciation because this developer price to sell on day 1, and gradually increase towards TOP. (Not all Developers adopt this pricing strategy)