HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS location that was granted in that location was in September last year, when Oriental Pacific Holdings submitted the greatest of four proposals at $692 psf per plot ratio (ppr), or $198 million, to protect the EC location at Sembawang Roadway.
He anticipates 3 to four bidders for the site, and expects the top quote to follow in at about $600 to $700 psf ppr.
“This is the very first EC GLS site to be put out to tender since the most recent actions on EC acquisitions were revealed on May 8,” claims Eugene Lim, key executive officer of ERA Singapore. The steps include stretching the minimum occupation period to 10 years, eliminating the Deferred Payment System, and raising first-timer priority at brand-new EC launches.
Meanwhile, Huttons Asia’s Yip expects up to five proposals for the Canberra Drive site, noting that its “bite-size quantum” might offer lower danger to designers. He estimates the highest quote cost to range between $630 to $700 psf ppr.
In opposition to this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive place to act as a “litmus test” of property developers’ trust adhering to the policy change. He adds that the tighter policies could narrow the pool of second-time buyers and possibly extend the sell-out duration for future EC projects.
The tender for the EC area at Canberra Drive are going to seal on Oct 1, 2026.
That said, Yip reckons that the Canberra Drive website can still see interest from developers as a result of its appealing locational qualities. Canberra MRT Station, on the North-South Line, is located within walking range of the site, while institutions such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
“Given the strongly attractive location of this Canberra Drive place, that is reasonably closer to services than the earlier plot, we expect developer interest for this location to be well-balanced,” notes Quek.
ERA Singapore’s Lim includes that the family member comfort of the Canberra Drive site can boost its attract both programmers and future buyers, particularly as EC sites are normally situated in less main locations.
An executive condo (EC) spot at Canberra Drive has been released for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site spans 124,167 sq ft and is anticipated to produce approximately 185 brand-new non commercial units.
Furthermore, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & AND SO ON) Team, anticipates the site to gather developer interest as a result of the prospective stifled demand for EC units in the area.
