Former Changi Garden
Jalan Meriam | Upper Changi Road North D17 
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Pending Approval for Sale
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Seeking Indication of Interest

Sales Hotline : 94507545

Project Details

Overall Dusk

Project Details: Parc Komo (Former Changi Garden)
Site Area: 18,754.90 sqm
Plot Ratio: 1.4 
GFA: Residential 23,191.94 sqm
Commercial 3,064.91 sqm

Expected Date of Vacant
Possession:

04 June 2023 

Expected Date of Legal
Completion:

04 June 2026 
Tenure of Land: Estate in Perpetuity 
Developer: CEL Real Estate Development Pte Ltd 
Summary of Development:

PROPOSED ERECTION OF 7 BLOCKS OF 5 STOREY
RESIDENTIAL FLATS AND 3 BLOCKS OF 3 STOREY
RESIDENTIAL FLATS (TOTAL 276 UNITS), 1 BLOCK OF 2
STOREY COMMERCIAL, BASEMENT CAR PARKING
COMMUNAL FACILITIES AND SWIMMING POOL ON MUKIM 31
LOT 01146A & 01147K AT UPPER CHANGI ROAD NORTH AND
32 TO 62C JALAN MARIAM (PASIR RIS PLANNING AREA)

Recreation Facilities: Refer to site plan 
Car Park Lots (Residential): 276 residence lots, 3 accessible (handicap) lots 
Car Park Lots (Commercial):

24 carpark lots, 4 accessible (handicap) lots

Total No. of blocks:
Residential:
7 blocks of 5 storey
3 blocks of 3 storey
Commercial:
1 block of 2 storey
Total No. of units:

276 residential units with 28 shops

Official Residential Address:

963 Upper Changi Road North Singapore 507664
965 Upper Changi Road North Singapore 507665
967 Upper Changi Road North Singapore 507666
969 Upper Changi Road North Singapore 507667
971 Upper Changi Road North Singapore 507668
973 Upper Changi Road North Singapore 507669
975 Upper Changi Road North Singapore 507670
977 Upper Changi Road North Singapore 507671
979 Upper Changi Road North Singapore 507672
981 Upper Changi Road North Singapore 507673

Official Commercial Address:

961 Upper Changi Road North Singapore 507663

 

Unit Type
Typical Unit
Sizes / Sqft
No. Of Units
1 Bed 452-484 30
1 + Study 538-549 10 
2 Bed Compact 614-657 24 
2 Bed Deluxe 700-775 78 
2 Bed Premium 926
3 Bed Compact 915-980 26 
3 Bed Deluxe 969-1023 55 
3 + Study 1119
4 Bed Compact 1281-1302 10 
4 Bed Deluxe 1410-1421 20 
5 Bed Luxury 1808-1905 20 
Total 276 

 

 

Built between the 1970s and 1980s, Changi Garden was placed on the market for a collective sale for an asking price of $196 million.  Changi Garden just sold for an amazing $248.8 million which is 27% above the asking price!  This property consists of 60 apartments, 12 penthouses, and 12 shops.

Each owner of an apartment will receive between $2.14 million and $2.27 million.  Penthouse owners will receive between $4.03 million and $4.74 million and shop owners are going to get between $4.7 million to $7.08 million.

CEL Real Estate Development beat out eight other bidders and won the property for $888 per square foot per plot ratio for the 200,093 sq. ft. site.  Analysts said that the offer for the estate is 30% higher than the asking price, was unexpected due to the nature of the mixed development of residences and shops and not in a central location.

CEL Real Estate Development is a wholly owned subsidiary of Chip Eng Seng Corp.  Filing with the Singapore Exchange on Tuesday, Chip Eng Seng stated they have plans to develop low rise residential condominiums consisting of around 320 units with full facilities and possibly some shops.

Mr Alan Cheong, who is the senior director of research and consultancy representing Savills Valuation and Professional Services, stated that the property market is really in a very unusual phase.  In past history, developers focused on prime districts for collective sales but today, they seem to be covering the entire island.  He also pointed out that Changi Garden is located directly across from Changi Prison which makes this a very unusual sale.

Despite the high asking price, developer was willing to go even higher which means the price tags will be even higher once the site is launched.

Leading executive officer of ERA Realty Network, Eugene Lim, said the prices per unit at the site will depend on the market conditions.  The sales prices seem to reflect the confidence that the developers have in this property market for the short-term and a belief that the prices will increase.

It is believed that the break-even price for CEL, based on the current market, would be approximately $1,350 to $1,400 per square foot.  This is based on findings from Nicholas Mak, head of the research and consultancy dept. at integrated asset management ZACD.

Location

Site Plan

SITEPLAN 3RD STOREY HIRES

Amenities

Amenities

E-Brochure

Floorplans

Contact for more floorplans. 
 
1 Bedrooms
 
2 Bedrooms

Prices

Updated 20/06/2019
*Pricing subject to confirmation
 
1 Br+Study, 560sqft (Last 2 Units!)
#04-43 $881K
#01-50 $1,017,000
 
2 Br Compact
#05-83 $946K
#03-67 $978K
 
2 Br Deluxe
#03-27 $1,045,000
#03-28 $1,045,000
 
2 Br Premium, 926sqft (Last Unit!)
#02-40 $1,383,000
 
3 Br+Study (Last Unit!)
#02-64 $1,649,000
 
3 Br Compact
#03-48 $1,326,000
#04-48 $1,338,000
 
3 Br Deluxe
#02-53 $1,456,000
#02-38 $1,458,000
 
4 Br Compact
#02-42 $1,891,000
#03-42 $1,897,000
 
4 Br Deluxe
#02-33 $1,965,000
#03-33 $1,971,000
 
5 Br Luxury
#02-57 $2,558,000
#04-57 $2,572,000

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Parc Komo Rating: 5.0 out of 5 | Review By: BuyCondo Singapore | PropNex Realty Pte Ltd | CEA Reg. No. L3008022J / R009877B