HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS site that was awarded that area was in September very last year, when Oriental Pacific Holdings submitted the greatest of four bids at $692 psf per plot ratio (ppr), or $198 million, to protect the EC site at Sembawang Roadway.
In opposition to this backdrop, Huttons Asia CEO Mark Yip anticipates the Canberra Drive site to act as a “litmus test” of property developers’ assurance adhering to the policy change. He includes that the tighter guidelines could narrow the pool of second-time customers and potentially extend the sell-out period for future EC projects.
He forecasts 3 to four bidders for the website, and expects the top quote to follow in at approximately $600 to $700 psf ppr.
“This is the 1st EC GLS site to be put out to tender since the latest procedures on EC purchases were introduced on May 8,” states Eugene Lim, key managing officer of ERA Singapore. The measures consist of lengthening the least possible occupation period to 10 years, removing the Deferred Payment Scheme, and growing first-timer priority at new EC launches.
Furthermore, Justin Quek, deputy team CEO of Realion (OrangeTee & ETC) Group, anticipates the site to gather developer rate of interest due to the potential bottled-up need for EC units in the area.
An executive condo (EC) spot at Canberra Drive has been started for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site covers 124,167 sq ft and is expected to yield around 185 brand-new housing units.
Age Singapore’s Lim includes that the relative benefit of the Canberra Drive website could boost its appeal to both developers and future customers, specifically as EC websites are usually situated in much less main areas.
“Offered the very attractive place of this Canberra Drive place, that is relatively closer to services than the previously plot, we anticipate developer interest for this site to be well-balanced,” mentions Quek.
The tender for the EC site at Canberra Drive will seal on Oct 1, 2026.
That stated, Yip believes that the Canberra Drive website might still see passion from programmers due to its appealing locational qualities. Canberra MRT Station, on the North-South Line, lies within walking range of the website, while institutions such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.
At The Same Time, Huttons Asia’s Yip anticipates approximately 5 bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” could offer reduced danger to programmers. He approximates the highest possible bid cost to range in between $630 to $700 psf ppr.
