HDB launches tender for first site since tightened EC rules, at Canberra Drive
Against this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive site to act as a “litmus test” of property developers’ confidence complying with the policy change. He adds that the tighter policies might narrow the pool of second-time buyers and possibly extend the sell-out period for future EC jobs.
Pinery Residences showflat location
The last GLS location that was awarded in that location was in September last year, when Oriental Pacific Holdings submitted the highest of four quotes at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC location at Sembawang Road.
On The Other Hand, Huttons Asia’s Yip expects as much as 5 bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” might offer lower risk to developers. He approximates the highest possible bid cost to range in between $630 to $700 psf ppr.
“Offered the very attractive place of this Canberra Drive site, that is reasonably nearer to facilities than the previously plot, we anticipate developer interest for this site to be well-balanced,” mentions Quek.
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 extends 124,167 sq ft and is anticipated to produce around 185 new non commercial units.
“This is the 1st EC GLS site to be put out to tender since the most recent measures on EC purchases were announced on May 8,” claims Eugene Lim, key executive officer of ERA Singapore. The steps include lengthening the least possible occupation period to 10 years, removing the Credit Plan, and growing first-timer priority at new EC release.
ERA Singapore’s Lim adds that the loved one comfort of the Canberra Drive site can enhance its attract both developers and future purchasers, specifically as EC websites are typically situated in less central areas.
The tender for the EC site at Canberra Drive will seal on Oct 1, 2026.
He predicts three to 4 bidders for the site, and anticipates the top proposal to come in at around $600 to $700 psf ppr.
That stated, Yip believes that the Canberra Drive website could still see rate of interest from designers as a result of its eye-catching locational characteristics. Canberra MRT Station, on the North-South Line, is located within walking distance of the website, while institutions such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
Furthermore, Justin Quek, deputy team chief executive officer of Realion (OrangeTee & ETC) Group, expects the website to amass developer passion as a result of the potential stifled need for EC units in the location.
