HDB launches tender for first site since tightened EC rules, at Canberra Drive
Period Singapore’s Lim includes that the family member comfort of the Canberra Drive website might boost its attract both designers and future buyers, particularly as EC websites are usually situated in less main areas.
On The Other Hand, Huttons Asia’s Yip prepares for approximately 5 bids for the Canberra Drive site, noting that its “bite-size quantum” could offer reduced danger to designers. He approximates the highest possible bid cost to range in between $630 to $700 psf ppr.
That claimed, Yip thinks that the Canberra Drive website could still see passion from designers because of its attractive locational attributes. Canberra MRT Station, on the North-South Line, is located within strolling distance of the website, while schools such as Sembawang Primary School and Wellington Primary School lie within a 1km radius.
“This is the very first EC GLS site to be put out to tender since the most recent steps on EC purchases were revealed on May 8,” states Eugene Lim, key executive officer of ERA Singapore. The measures consist of lengthening the least possible occupation period to a decade, eliminating the Deferred Payment Plan, and growing first-timer priority at brand-new EC release.
Additionally, Justin Quek, replacement team CEO of Realion (OrangeTee & AND SO ON) Group, anticipates the website to amass programmer rate of interest as a result of the prospective suppressed demand for EC units in the location.
An executive condo (EC) location at Canberra Drive has been started for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site covers 124,167 sq ft and is anticipated to generate roughly 185 brand-new residential units.
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive site to serve as a “litmus test” of property developers’ trust complying with the policy change. He adds that the tighter guidelines might narrow the pool of second-time purchasers and potentially lengthen the sell-out period for future EC jobs.
“Given the very attractive place of this Canberra Drive place, that is relatively nearer to amenities than the previously plot, we expect developer interest for this site to be well-balanced,” notes Quek.
He predicts three to 4 prospective buyers for the website, and expects the leading bid to follow in at approximately $600 to $700 psf ppr.
The last GLS site that was granted in that area was in September very last year, when Oriental Pacific Holdings sent the highest possible of four proposals at $692 psf per plot ratio (ppr), or $198 million, to protect the EC location at Sembawang Road.
The tender for the EC area at Canberra Drive will shut on Oct 1, 2026.
