Coastal Cabana EC project next to Downtown East sells 498 units over launch weekend
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Situated next to Downtown East in Pasir Ris, the seafront EC is jointly developed by Qingjian Realty, Forsea Holdings, ZACD Group and Jianan Capital.
PHOTO: QINGJIAN REALTY
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 $1,734 per sq ft (psf) during its launch weekend over Jan 17 to 18.
This figure falls within the $1,700 to $1,800 psf range that market watchers had earlier expected.
Situated next to the Downtown East leisure and entertainment hub in Pasir Ris, the seafront EC is jointly developed by Qingjian Realty, Forsea Holdings, ZACD Group and Jianan Capital.
This is the first EC launch of 2026, and the first one for an EC project in Pasir Ris in more than 12 years, following Sea Horizon’s in 2013.
“There was strong interest garnered across all unit types, affirming the carefully curated unit mix that was designed to meet varied household needs,” said Qingjian Realty managing director Du Dexiang.
Forsea Holdings director Wang Xin 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 a project has been completed.
Coastal Cabana comprises 16 residential blocks of 11 and 12 storeys. It offers a mix of three to five-bedroom units ranging from 872 sq ft to 1,421 sq ft. It is expected to achieve vacant possession by March 31, 2029.
The 99-year leasehold site that the project is being developed on was sold for $557 million, or $729 psf per plot ratio, at a state tender that closed in August 2024.
PropNex chief executive Kelvin Fong noted that the “limited stock” of unsold new ECs in the market likely helped to support sales at Coast Cabana. He pointed out that there were just 17 unsold EC units on the market as at the end of December 2025, based on the latest monthly developers’ sales data.
SRI head of research and data analytics Mohan Sandrasegeran said that an improvement in EC sales over the past year has taken place alongside a calibrated ramp-up in government land sales (GLS) supply.
“This increase in GLS availability has provided developers with a clearer pipeline of future EC projects, while giving buyers greater visibility over upcoming options,” he noted.
“Rather than placing upward pressure on prices, the expanding supply pipeline has played a stabilising role by anchoring expectations and encouraging more disciplined pricing strategies across the segment.”
Two EC projects were put on the market earlier in 2025. At the 760-unit Aurelle of Tampines, 682 units were sold during the launch weekend in March. Meanwhile, in July, 351 of the 600 units in the Otto Place development were sold during the launch weekend.
For the rest of 2026, there are an estimated four to five EC developments slated for launch. THE BUSINESS TIMES
