HDB launches tender for first site since tightened EC rules, at Canberra Drive
ERA Singapore’s Lim includes that the loved one ease of the Canberra Drive website can boost its interest both developers and future buyers, specifically as EC websites are typically located in less main locations.
“This is the first EC GLS site to be put out to tender since the current steps on EC acquisitions were revealed on May 8,” claims Eugene Lim, key executive officer of ERA Singapore. The measures consist of extending the least possible occupation period to one decade, getting rid of the Deferred Payment Plan, and raising first-timer priority at brand-new EC release.
The tender for the EC area at Canberra Drive are going to shut off on Oct 1, 2026.
That said, Yip reckons that the Canberra Drive site could still see rate of interest from developers due to its eye-catching locational qualities. Canberra MRT Station, on the North-South Line, lies within walking range of the site, while institutions such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.
Additionally, Justin Quek, replacement team chief executive officer of Realion (OrangeTee & ETC) Group, expects the website to gather developer rate of interest as a result of the possible stifled need for EC units in the location.
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He anticipates three to 4 prospective buyers for the website, and expects the top bid to come in at about $600 to $700 psf ppr.
On The Other Hand, Huttons Asia’s Yip prepares for as much as 5 proposals for the Canberra Drive site, noting that its “bite-size quantum” could offer reduced threat to developers. He approximates the highest bid rate to range between $630 to $700 psf ppr.
The last GLS location that was awarded that area 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 safeguard the EC location at Sembawang Road.
An executive condo (EC) site at Canberra Drive has been launched for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site spans 124,167 sq ft and is expected to yield approximately 185 new non commercial units.
Against this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive site to act as a “litmus test” of developers’ assurance adhering to the policy change. He adds that the tighter guidelines might tighten the pool of second-time buyers and potentially lengthen the sell-out period for future EC jobs.
“Offered the very attractive area of this Canberra Drive place, which is reasonably closer to amenities than the previously plot, we expect developer interest for this location to be healthy,” mentions Quek.
