CEL Development sells 77 units at Kopar at Newton following online launch

/ EdgeProp Singapore

April 7, 2020 7:07 PM SGT

Kopar at Newton (Credit: Albert Chua/ The Edge Singapore)

SINGAPORE (EDGEPROP) - Chip Eng Seng’s property arm CEL Development sold 77 units at Kopar at Newton on its first day of sales on April 4, which the developer says was launched “completely online and with transactions carried out remotely”.

All bookings were carried out using Showsuite’s proprietary digital booking platform which allowed buyers to avoid queues, crowds and contact, as they signed pre-sale documents in the comfort of their homes, according to CEL. Some buyers even opted to pay the 5% booking deposit online instead of conventional cheques, it says.

Sales at the 378-unit, 99-year leasehold, high-end condo at Kampong Java Road, just off Bukit Timah Road, was conducted under the strict safe distancing measures announced by the Singapore government that kicked in on March 26. The units sold achieved an average price of $2,350 psf.

“Kopar at Newton is the first in Singapore’s history to have conducted a project launch completely remotely without buyers needing to be physically present to queue and sign documents. This was made possible with us partnering with Showsuite, whose technology facilitated the orderly, secure and remote online bookings,” comments Joanne Goh, general manager of marketing at CEL Development.

Agents from the real estate agencies — ERA, PropNex, OrangeTee & Tie, and SRI — roped in to market Kopar were trained to carry out the transactions remotely, says Karamjit Singh, CEO of Showsuite.

Singh adds: “Each [of them] were given dedicated and secure dashboards connected to our real-time inventory management platform. We also adopted video-conferencing for training and off-site tech-support to ensure the smooth running of the process.”

Showsuite is a Singapore-based property-technology company which helps property developers and their appointed agents carry out real-time and paperless bookings of new homes. The first project to carry out paperless transactions was CEL’s Park Colonial in 2018. Since then, bookings for over 1,000 units worth over $1.5 billion have taken place on Showsuite.

Check out the latest listings near Kopar at Newton, MRT Stations and School

For price trends, recent transactions, other project info, check out Kopar at Newton project research page

Read also:

No further help for landlords but combined measures could soften blow on real estate market

[UPDATE] Kopar at Newton sees 77 units sold ahead of enforced shut down of all sales galleries

Property developers to close their sales galleries from April 7 until May 4

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