Chip Eng Seng Corporation Ltd (CES) is a construction and property group listed on the mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST). 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 a main contractor. In 1982, the company won its first Singapore Housing and Development Board (HDB) project as a main contractor. With that, the company continued to establish its position in HDB public housing construction.
Since 2000, CEL has been actively acquiring sites for property development and investment. These developments include residential, commercial and industrial properties. The current portfolio of CEL includes mid-market and high-end prime properties.
CEL believes in growth through partnerships. It has established joint ventures with reputable foreign funds such as Lehman Brothers Real Estate Partner II and Citadel Equity Fund Ltd. CEL has also teamed with local partners like NTUC Choice Homes Co-operative Ltd and Keppel Land Limited on several highly successful property projects.
Going beyond local boundaries, CEL has launched an expansion into the emerging regional economies, beginning with Vietnam, where it is actively seeking property development opportunities. It is also exploring other markets in South East Asia.
Developer: CEL Newton Pte Ltd • Tenure of Land: 99 years commencing from 22 April 2019. Encumbrances on the Land: Caveat(s) / Mortgage(s) in favour of OCBC Bank • Expected Date of Vacant Possession: 31 December 2023 • Expected Date of Legal Completion : 31 December 2026 • Lot No.: Lot 01355T - TS 28