HDB launches tender for first site since tightened EC rules, at Canberra Drive
Age Singapore’s Lim includes that the family member convenience of the Canberra Drive site can improve its interest both programmers and future buyers, especially as EC websites are commonly situated in much less main locations.
“Offered the strongly attractive place of this Canberra Drive site, which is reasonably nearer to amenities than the previously plot, we expect developer interest for this location to be healthy,” mentions Quek.
“This is the first EC GLS area to be put out to tender since the latest steps on EC purchases were revealed on May 8,” states Eugene Lim, key managing officer of ERA Singapore. The steps consist of stretching the minimum occupation period to 10 years, removing the Deferred Payment Scheme, and raising first-timer priority at brand-new EC launches.
The tender for the EC area at Canberra Drive will close on Oct 1, 2026.
He predicts 3 to 4 bidders for the site, and anticipates the top bid to come in at around $600 to $700 psf ppr.
An executive condo (EC) site at Canberra Drive has been started for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site covers 124,167 sq ft and is expected to yield about 185 new non commercial units.
Against this backdrop, Huttons Asia CEO Mark Yip anticipates the Canberra Drive place to serve as a “litmus test” of developers’ assurance following the policy change. He includes that the tighter guidelines can narrow the pool of second-time buyers and potentially lengthen the sell-out duration for future EC projects.
Furthermore, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & AND SO ON) Team, anticipates the website to gather designer rate of interest as a result of the potential pent-up need for EC units in the location.
At The Same Time, Huttons Asia’s Yip prepares for up to five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer lower danger to designers. He estimates the greatest quote rate to range in between $630 to $700 psf ppr.
That stated, Yip believes that the Canberra Drive site might still see interest from developers because of its attractive locational features. Canberra MRT Station, on the North-South Line, lies within strolling range of the website, while institutions such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.
The last GLS location that was granted in that location was in September last year, when Oriental Pacific Holdings sent the highest of four quotes at $692 psf per plot ratio (ppr), or $198 million, to protect the EC location at Sembawang Road.
