HDB launches tender for first site since tightened EC rules, at Canberra Drive
Against this backdrop, Huttons Asia CEO Mark Yip anticipates the Canberra Drive site to function as a “litmus test” of property developers’ confidence following the policy change. He adds that the tighter regulations could tighten the pool of second-time buyers and possibly lengthen the sell-out period for future EC jobs.
“Offered the highly attractive place of this Canberra Drive place, which is fairly nearer to services than the previously plot, we anticipate developer interest for this location to be well-balanced,” mentions Quek.
ERA Singapore’s Lim includes that the relative comfort of the Canberra Drive site might improve its attract both designers and future buyers, particularly as EC sites are usually situated in much less main locations.
Meanwhile, Huttons Asia’s Yip anticipates approximately 5 bids for the Canberra Drive site, noting that its “bite-size quantum” might offer reduced danger to developers. He approximates the highest possible quote price to range between $630 to $700 psf ppr.
“This is the first EC GLS site to be put out to tender since the most up to date procedures on EC purchases were introduced on May 8,” claims Eugene Lim, key executive officer of ERA Singapore. The measures include stretching the least possible occupation period to one decade, eliminating the Credit System, and growing first-timer priority at new EC launches.
In Addition, Justin Quek, replacement team CEO of Realion (OrangeTee & ETC) Group, expects the site to gather programmer rate of interest because of the prospective stifled need for EC units in the location.
The last GLS location that was granted in that area was in September very last year, when Oriental Pacific Holdings handed in the highest possible of 4 proposals at $692 psf per plot ratio (ppr), or $198 million, to secure the EC location at Sembawang Road.
The tender for the EC area at Canberra Drive are going to seal on Oct 1, 2026.
He anticipates three to 4 bidders for the site, and expects the top bid to follow in at approximately $600 to $700 psf ppr.
An executive condo (EC) location at Canberra Drive has been launched for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site extends 124,167 sq ft and is anticipated to generate roughly 185 brand-new residential units.
That stated, Yip thinks that the Canberra Drive site might still see rate of interest from programmers due to its attractive locational qualities. Canberra MRT Station, on the North-South Line, lies within walking range of the site, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
