[SINGAPORE] Executive condominium (EC) Coastal Cabana sold 498 units, or more than 66 per cent of its total of 748 units, at an average price of S$1,734 per square foot (psf) during its launch weekend over Jan 17 to 18.

This figure falls within the S$1,700 to S$1,800 psf range that market watchers had earlier expected.

Located along Jalan Loyang Besar in Pasir Ris, the seafront EC is jointly developed by Qingjian Realty, Forsea Holdings, ZACD Group and Jianan Capital. 

“There was strong interest garnered across all unit types, affirming the carefully curated unit mix that was designed to meet varied household needs,” said Du Dexiang, managing director of Qingjian Realty.

Wang Xin, director at Forsea Holdings, added that the “strong sales performance” highlights the development’s appeal, with “sea views being a particularly prized feature in the EC market”.

ECs are a public-private housing hybrid, with initial buyer eligibility and resale restrictions that are lifted 10 years after the project has been completed.

Situated next to the Downtown East leisure and entertainment hub, the project comprises 16 residential blocks of 11 and 12 storeys, with a mix of three to five-bedroom units ranging from 872 square feet...