SORA Developer
Lakeside Residential Pte. Ltd., a Joint Venture of CEL Development, SingHaiyi Group and KSH Holdings
SORA is a 440-unit private condominium at 72, 74, 76 and 78 Yuan Ching Road in District 22, held on a 99-year lease commencing 30 August 2023 and arranged as two 20-storey blocks and two 12-storey blocks. The legal developer of record is Lakeside Residential Pte. Ltd., UEN 202227236Z, registered at 9 Temasek Boulevard, #35-02 Suntec Tower Two, Singapore 038989, and holding Housing Developer Licence C1480. Purchase monies are held in Project Account No. 595-322033-001 with Oversea-Chinese Banking Corporation Limited, which is the account a buyer’s cheque is made out to rather than to the developer directly.
The site was assembled through the collective sale of Park View Mansions, a 160-unit development from the 1970s that occupied the same 17,834.8 sqm parcel. The joint venture acquired it for $260 million in July 2022, which works out at roughly $1,023 per square foot per plot ratio against the site’s 2.1 plot ratio. The participating interests were CEL Development at 40%, Sing-Haiyi Pearl at 30% and TK 189 Development at 30%. Sing-Haiyi Pearl is a 50:50 joint venture between SingHaiyi Group and Haiyi Holdings, and TK 189 Development is 66.7% held by Kim Seng Heng Realty, an associated company of KSH Holdings, with the remaining 33.3% held by Ho Lee Group. The Building and Construction Authority records the developing parties for the project as CEL Development, SingHaiyi Group and KSH Holdings.
The appointed consultants are ADDP Architects LLP as project architect, Ecoplan Asia Pte. Ltd. as landscape consultant, and Nakano Singapore Pte. Ltd. as main contractor. Building plan approval was granted under references A1720-00016-2022-BP01 and A1720-00016-2022-BP03. Vacant possession is expected by 31 October 2028 and legal completion by 31 October 2031.
Two of those three parties are now one group. SingHaiyi describes its merger with CEL Development on its own corporate profile, and the two operate from a single corporate presence today, which puts 70% of the participating interest under common ownership and 30% with KSH Holdings. The listing position has moved with it: SingHaiyi records itself as formerly listed on the Mainboard of the Singapore Exchange, Chip Eng Seng Corporation Ltd, the parent of CEL Development, was delisted on 11 April 2023, and KSH Holdings Limited is the only one of the three still publicly listed. None of that changes the delivery record, but the site had described all three as listed and that is no longer the case.
SingHaiyi Group and CEL Development
Merged group, 70% combined participating interest
SingHaiyi Group describes itself as an award-winning, multi-disciplinary real estate company with a global presence, anchored on robust principles and decades of industry expertise. It was formerly listed on the Mainboard of the Singapore Exchange, and its merger with CEL Development Pte. Ltd. brought the two development businesses together. They are treated as two parties on the public register and hold their interests in SORA separately, CEL at 40% directly and SingHaiyi at 30% through Sing-Haiyi Pearl, but they operate as one group and share one corporate presence.
The combined portfolio runs across four business lines, property development, property investment, property management and real estate fund management, spanning Singapore, Australia and New Zealand, the United States, Malaysia and the Maldives, with an established residential development record alongside income-generating commercial and hospitality assets. The group’s guiding philosophy, 精誠存信 佳業傳承, is rendered on its own site as building excellence for generations, and it describes its focus as building legacies rather than developments. CEL Development itself is the property development arm of Chip Eng Seng Corporation Ltd, a business that began in the 1960s as a construction subcontractor, listed on the SGX Mainboard in November 1999 and was taken private in April 2023.
Because the two firms remain separately registered, the Building and Construction Authority’s Quality Housing Portal carries a record for each, and a buyer checking it will find both. SingHaiyi holds a firm-level CONQUAS band of 1 and CEL Development a band of 2. Three things are worth understanding about either figure. It is a track record across that firm’s completed projects rather than a score for any single development; it reflects a rolling six-year window, so it moves as projects enter and leave it; and SORA itself has no band of its own, because a band is only assessed at completion and the portal currently records SORA as Under Assessment. On the completed record, SingHaiyi shows The Gazania and The Lilium at Band 1 and Parc Clematis at Band 2, and CEL shows Park Colonial at Band 1, Parc Komo and Grandeur Park Residences at Band 2 and Kopar at Newton at Band 4. Retrieved 1 August 2026.
The group’s relevance to SORA is specific rather than general. ADDP Architects LLP, the project architect here, is the practice behind Kopar at Newton, Park Colonial and Grandeur Park Residences, all CEL developments, so the architect and the lead developing party arrive at this site with several projects of shared history rather than a first collaboration. That continuity shows in the specification: the Electrolux kitchen appliances and the Duravit, Geberit and Grohe sanitary fittings at SORA follow the same approach, and the full breakdown by unit type is on the Floorplan Layout page. For more information, visit www.singhaiyi.com.
KSH Holdings
Independent developing party, 30% participating interest through TK 189 Development
KSH Holdings Limited is a construction, property development and property investment group incorporated in 1979 and listed on the Mainboard of the SGX-ST since 8 February 2007. It is the only partner outside the merged group, the only one still publicly listed, and the one whose primary business is building rather than developing.
That distinction is the reason KSH matters on this site. KSH is an A1-graded contractor under BCA’s CW01 workhead, the top grade, which allows it to tender for public sector building projects of unlimited value, and it holds an A2 grade under CW02 for civil engineering. Its construction record includes BCA Construction Excellence Awards for the Fullerton Bay Hotel and the NUS University Town Education Resource Centre in 2013, Madison Residences in 2014, Mount Alvernia Hospital in 2016, and the NUS University Sports Centre in 2019.
On the Quality Housing Portal, KSH’s completed developments span Bands 1 to 4, including Riverfront Residences and Park Colonial at Band 1 and Wilshire Residences at Band 2, with three further projects under assessment. The portal appends a qualifier note to KSH’s firm-level band which is not reproduced here, so the firm figure is left to the portal itself; the same three qualifications apply to any band on it, and SORA claims none of its own. Retrieved 1 August 2026.
Park Colonial is the useful entry in that list, because it was a CEL Development project with KSH as a partner and ADDP as architect, which is the same three-way pairing at work here. SORA is not this group’s first joint development but its latest, and the three partners had already taken Peace Centre and Peace Mansion together in December 2021, seven months before Park View Mansions. For more information, visit www.kimsengheng.com.
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