HDB launches tender for first site since tightened EC rules, at Canberra Drive
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive site to work as a “litmus test” of property developers’ confidence adhering to the policy change. He includes that the tighter policies might narrow the pool of second-time customers and possibly extend the sell-out duration for future EC jobs.
He forecasts 3 to four bidders for the site, and expects the leading bid to follow in at about $600 to $700 psf ppr.
That said, Yip thinks that the Canberra Drive website might still see interest from designers because of its eye-catching locational characteristics. Canberra MRT Terminal, on the North-South Line, is located within walking range of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km radius.
The tender for the EC site at Canberra Drive will shut off on Oct 1, 2026.
Age Singapore’s Lim adds that the loved one convenience of the Canberra Drive site could improve its appeal to both programmers and future customers, particularly as EC sites are generally situated in much less main areas.
“Provided the very attractive location of this Canberra Drive place, which is reasonably nearer to amenities than the previously plot, we anticipate developer interest for this site to be healthy,” mentions Quek.
“This is the first EC GLS site to be put out to tender since the current actions on EC acquisitions were introduced on May 8,” claims Eugene Lim, key managing officer of ERA Singapore. The measures include stretching the least possible occupation period to one decade, getting rid of the Credit Plan, and increasing first-timer priority at new EC launches.
In Addition, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & ETC) Team, anticipates the website to garner developer rate of interest as a result of the possible pent-up need for EC units in the area.
Meanwhile, Huttons Asia’s Yip expects up to 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 bid cost to range in between $630 to $700 psf ppr.
An executive condo (EC) location at Canberra Drive has been released for sale under the Confirmed Listing of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site covers 124,167 sq ft and is anticipated to produce roughly 185 brand-new housing units.
The last GLS site that was granted in that location was in September very last year, when Oriental Pacific Holdings handed in the highest of 4 quotes at $692 psf per plot ratio (ppr), or $198 million, to protect the EC site at Sembawang Roadway.
