September 21, 2017 12:11 PM ET

Real Estate Management and Development

Company Overview of CEL Development Pte Ltd

Company Overview

CEL Development Pte Ltd. acquires, develops, and sells residential, commercial, and industrial properties in Singapore, Australia, and Vietnam. CEL Development Pte Ltd. was formerly known as Chip Eng Leong Enterprise Pte Ltd. The company was incorporated in 1983 and is based in Singapore. CEL Development Pte Ltd. operates as a subsidiary of Chip Eng Seng Corporation Ltd.

69 Ubi Crescent

#06-01 CES Building

Singapore,  408561

Singapore

Founded in 1983

Phone:

65 6500 0065

Fax:

65 6500 0064

Key Executives for CEL Development Pte Ltd

Executive Director
Executive Director
Age: 62
Compensation as of Fiscal Year 2017.

CEL Development Pte Ltd Key Developments

CEL Development Pte Ltd. Enters into Joint Venture Agreement with Grand Park Maldives Pte Ltd

Chip Eng Seng Corporation Ltd. (CES) and Park Hotel Group announced that they have entered into a joint venture agreement to invest in a resort project in the Maldives. Under the agreement, CEL Development Pte Ltd. holds an interest of 70% while Grand Park Maldives Pte Ltd. owns the remaining 30%. The joint venture has entered into a sales and purchase agreement for the Maldives resort with Kodhipparu Investment Private Limited for USD 65 million. The transaction was brokered by JLL's Hotels and Hospitality Group as exclusive advisor to the vendor. The joint venture also marks the appointment of Park Hotel Group to manage Grand Park Kodhipparu, Maldives, scheduled to open in the 2nd quarter of 2017. The 120 all-villas Grand Park Kodhipparu, Maldives is Park Hotel Group's second partnership with CES, following the hotel management agreement for Park Hotel Alexandra which opened last year. Grand Park Kodhipparu, Maldives is located on the North Malé Atoll and 15 minutes' speedboat ride from the Malé International Airport. The resort features 120 idyllic villas comprising a range of beach-front pool villas, overwater villas with direct access to the crystal-clear turquoise waters and overwater pool villas that come with a private infinity pool. The resort will offer two restaurants, a harbour beach club and pool bar. Recreational facilities including a swimming pool, gymnasium, sunrise yoga deck, wellness centre with spa and salon treatments, water sports and dive centre, children's activity centre and specialty shops are also available.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
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