The property is divided into 7 buildings with 40 to 59 floors and a total of 1959 units. The estate was opened for sale in 2001 on 27 July 2001 (Phase 1), 1 June 2002 (Phase 2). The management company is Hong Yip Service Co. Ltd. under Sun Hung Kai Properties. Oscar by the Sea is the only private housing estate in Tseung Kwan O that is not built on reclaimed land.[citation needed]