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

Tags:

Our Sites

Edgeprop.sg (previously known as The Edge Property Singapore) – is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDB flats, landed houses or commercial properties, we bring you Singapore’s the most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions.

Make better decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all things en bloc, including Singapore en bloc news, trends and our En Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.

Web Version 4.2.24

Aside from that, EdgeProp also offers a market trend tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heat map that lets you find out where all Singapore’s most popular property sales locations are, a HDB lease tool that lets you calculate your HDB tenure, an affordability calculator, and a property watch list to track your preferred Singapore property by project or location, as well as new launches.

On the lookout for undervalued property or buying to rent? EdgeProp’s powerful search filters let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools and childcare centres, or a good-value condo with a sea view – so that you find exactly what you are looking for.