Chip Eng Seng

Chip Eng Seng: Entered contracts to purchase 3 adjoining sites in Doncaster, Victoria, Australia, for an aggregate A$19.3m. The sites located at 154-166 Williamsons Road, 5-17 Henry Street and 59 Margot Avenue, have an aggregate area of 28,002 sqm, which the group intends to develop into a residential project consisting of approximately 90 town houses and 50 apartments. This is the group's fourth property project in Melbourne. Chip Eng Seng currently trades at 5.8x trailing P/E, in line with its 1-year historical average