HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS site that was granted in that area was in September very last year, when Oriental Pacific Holdings handed in the highest of 4 proposals at $692 psf per plot ratio (ppr), or $198 million, to protect the EC spot at Sembawang Road.
“This is the 1st EC GLS area 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 steps consist of lengthening the least possible occupation period to one decade, taking out the Credit Scheme, and growing first-timer priority at brand-new EC release.
An executive condo (EC) spot at Canberra Drive has been started for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site covers 124,167 sq ft and is expected to produce roughly 185 brand-new non commercial units.
In opposition to this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive place to act as a “litmus test” of developers’ assurance following the policy change. He adds that the tighter policies could tighten the pool of second-time customers and potentially lengthen the sell-out period for future EC projects.
Age Singapore’s Lim adds that the loved one benefit of the Canberra Drive website might improve its attract both designers and future purchasers, especially as EC websites are typically located in less central areas.
He predicts three to 4 bidders for the website, and anticipates the top bid to come in at approximately $600 to $700 psf ppr.
That said, Yip reckons that the Canberra Drive site could still see rate of interest from developers due to its eye-catching locational attributes. Canberra MRT Station, on the North-South Line, is located within walking distance of the website, while colleges such as Sembawang Primary School and Wellington Primary School are located within a 1km span.
The tender for the EC site at Canberra Drive will shut off on Oct 1, 2026.
At The Same Time, Huttons Asia’s Yip prepares for approximately five bids for the Canberra Drive site, noting that its “bite-size quantum” could offer lower danger to programmers. He estimates the greatest bid rate to range between $630 to $700 psf ppr.
“Provided the strongly attractive location of this Canberra Drive place, that is fairly nearer to facilities than the earlier plot, we expect developer interest for this location to be well-balanced,” notes Quek.
In Addition, Justin Quek, replacement team CEO of Realion (OrangeTee & ETC) Team, expects the website to garner developer rate of interest as a result of the potential stifled demand for EC units in the location.
