HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS location that was awarded that area was in September last year, when Oriental Pacific Holdings handed in the highest of four bids at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC location at Sembawang Road.
Additionally, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & ETC) Team, expects the website to gather developer interest due to the potential stifled demand for EC units in the area.
The tender for the EC site at Canberra Drive will close on Oct 1, 2026.
Meanwhile, Huttons Asia’s Yip prepares for approximately 5 bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” could offer lower danger to designers. He approximates the highest possible quote price to range in between $630 to $700 psf ppr.
“This is the very first EC GLS site to be put out to tender since the latest procedures on EC purchases were revealed on May 8,” states Eugene Lim, key directing officer of ERA Singapore. The measures consist of lengthening the least possible occupation period to 10 years, removing the Deferred Payment Plan, and growing first-timer priority at brand-new EC launches.
He predicts 3 to four prospective buyers for the site, and anticipates the top bid to follow in at approximately $600 to $700 psf ppr.
Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive site to serve as a “litmus test” of developers’ trust following the policy change. He adds that the tighter regulations could tighten the pool of second-time purchasers and potentially extend the sell-out duration for future EC projects.
ERA Singapore’s Lim adds that the family member benefit of the Canberra Drive site could improve its appeal to both designers and future buyers, especially as EC sites are commonly located in less main areas.
An executive condo (EC) site at Canberra Drive has been released for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site extends 124,167 sq ft and is anticipated to generate approximately 185 new housing units.
That said, Yip believes that the Canberra Drive website could still see rate of interest from programmers due to its eye-catching locational characteristics. Canberra MRT Terminal, on the North-South Line, is located within strolling range of the website, while colleges such as Sembawang Primary School and Wellington Primary School are located within a 1km distance.
“Given the strongly attractive location of this Canberra Drive place, that is fairly closer to amenities than the previously plot, we anticipate developer interest for this location to be well-balanced,” notes Quek.
