HDB launches tender for first site since tightened EC rules, at Canberra Drive
Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive site to act as a “litmus test” of property developers’ confidence following the policy change. He includes that the tighter policies can tighten the pool of second-time purchasers and potentially lengthen the sell-out period for future EC projects.
That claimed, Yip believes that the Canberra Drive site can still see rate of interest from developers due to 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 lie within a 1km distance.
“Offered the highly attractive location of this Canberra Drive place, that is relatively nearer to facilities than the previously plot, we expect developer interest for this site to be well-balanced,” mentions Quek.
Age Singapore’s Lim includes that the family member ease of the Canberra Drive site could enhance its attract both developers and future buyers, specifically as EC websites are usually situated in much less central areas.
He anticipates three to 4 bidders for the site, and expects the leading quote to come in at around $600 to $700 psf ppr.
“This is the first EC GLS area to be put out to tender since the most up to date procedures on EC purchases were announced on May 8,” claims Eugene Lim, key managing officer of ERA Singapore. The steps consist of extending the minimum occupation period to a decade, getting rid of the Deferred Payment Plan, and increasing first-timer priority at new EC launches.
The tender for the EC area at Canberra Drive will shut on Oct 1, 2026.
The last GLS site that was awarded in that location was in September last year, when Oriental Pacific Holdings submitted the greatest of 4 quotes at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC site at Sembawang Roadway.
An executive condo (EC) location at Canberra Drive has been started for sale under the Confirmed Listing of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site spans 124,167 sq ft and is expected to yield roughly 185 brand-new residential units.
In Addition, Justin Quek, deputy group CEO of Realion (OrangeTee & AND SO ON) Team, anticipates the site to gather developer passion as a result of the possible suppressed need for EC units in the location.
At The Same Time, Huttons Asia’s Yip anticipates as much as 5 bids for the Canberra Drive site, noting that its “bite-size quantum” might offer reduced danger to programmers. He approximates the highest possible quote price to range in between $630 to $700 psf ppr.
