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26-08-2025, 07:12 AM
(This post was last modified: 26-08-2025, 01:08 PM by newlaunchguru.)
On 1 August 2024, Singapore Housing Development announced that an Executive Condominium (EC) site at Jalan Loyang Besar in Pasir Ris, with the potential to yield 710 units, attracted four bids. The highest offer came from a consortium comprising Qingjian Realty, China Communications Construction, and ZACD Group, at $557 million, or $729 psf ppr. This development will be known as Coastal Cabana EC.
Developers appeared more inclined to invest in this entry-level EC site—targeted at first-time buyers and HDB upgraders—rather than a prime private condominium plot in a popular location with a large upgrader base.
The $729 psf ppr bid set a new record for a Government Land Sales (GLS) EC site, surpassing the previous benchmark of $721 psf ppr for the Tampines Street 62 (Parcel B) site, awarded to Sim Lian Group in October 2023.
Developers appeared more inclined to invest in this entry-level EC site—targeted at first-time buyers and HDB upgraders—rather than a prime private condominium plot in a popular location with a large upgrader base.
The $729 psf ppr bid set a new record for a Government Land Sales (GLS) EC site, surpassing the previous benchmark of $721 psf ppr for the Tampines Street 62 (Parcel B) site, awarded to Sim Lian Group in October 2023.