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SINGAPORE : Developer City Developments is seeing strong demand for its latest luxury residential project, St Regis.

Executive chairman Kwek Leng Beng revealed that nearly all 70 units from the initial launch of the St Regis have been sold at the target average price of S$2,800 per square foot.

Another 30 units have been released at similar prices, but the remaining 73 units will be retained for lease.

He said that since the hotel component of St Regis has only 299 rooms, the remaining apartment units will supplement the expected strong demand for St Regis accommodation.

CDL is also due to launch its high-end Sentosa residential project, Oceanfront @ Sentosa Cove, later this week.

Mr Kwek said it was likely to be priced around S$1,300 to S$1,350 per square foot.

This is some 30 percent higher than Frasers Centrepoint's The Azure, which is also at Sentosa Cove. - CNA /ct