Chip Eng Seng previews Parc Komo at average price of $1,450 psf
The mixed-use development in Upper Changi is positioned as the most affordable freehold project launch in 2019
When listed construction and property development group Chip Eng Seng Corp paid $248.8 million for the en bloc purchase of Changi Gardens in October 2017, it was at a 27% premium to the owners’ original asking price of $196 million.
Still, Chip Eng Seng is previewing the new project, Parc Komo, on May 17, at an average price of $1,450 psf. “A lot of leasehold projects are already priced above that,” says Michael Ng, executive director of CEL Development, the property development arm of Chip Eng Seng. “Such pricing for a new, freehold project will be very difficult to repeat.”
