Kopar at Newton sells 77 units ahead of closure order for showflats

Victor Kang6 Apr 2020

Kopar at Newton condo by CEL Development sold 77 units ahead of the circuit breaker measures by the government

Kopar At Newton sold 77 units ahead of the “circuit breaker” measures on April 7. Photo: CEL Development. 

CEL Development has announced that it sold 77 units at Kopar at Newton condo during its launch over the weekend, reported The Business Times.

Before its launch, the 378-unit, 99-year leasehold project off Newton Circus was previously priced at an average of $2,350 psf. But CEL Executive Director Michael Ng, said that the average psf price sold over the weekend has not been determined yet. 

“We have not had time to calculate the average per square foot price for the units sold over the weekend. Most of the units that have been sold are one and two-bedroom apartments,” he said.

The cheapest units transacted were a couple of one-bedders, transacted at $1.098 million each. A penthouse, measuring around 3,305 sq ft, was also sold for $7.88 million.

“Buyers were predominantly Singapore citizens, although we also had some permanent residents and a few foreigners who are based here,” added Ng.

Jointly marketed by ERA, OrangeTee & Tie, PropNex and SRI, Kopar at Newton was the first project to be launched amid the tighter Covid-19 guidelines on crowd avoidance and ahead of the government’s recently announced circuit-breaking moratorium which would see all showflats closed from 7 April to 4 May.

CEL opened the project for preview on 25 March, on a site adjacent to the actual location of the development.

“We had planned to begin sales on Good Friday. However, when we were informed last Friday that all showflats would have to be closed for one month from 7 April, we decided to bring forward the start of sales,” said Ng.

Kopar at Newton features two 23-storey towers, with units ranging from one- to five-bedroom apartments, with penthouses also offered. 

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg


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