HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) location 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 anticipated to produce about 185 brand-new housing units.
That claimed, Yip thinks that the Canberra Drive website might still see rate of interest from developers due to its attractive locational characteristics. Canberra MRT Station, on the North-South Line, is located within walking range of the website, while schools such as Sembawang Primary School and Wellington Primary School are located within a 1km distance.
The last GLS site that was granted in that location was in September very last year, when Oriental Pacific Holdings handed in the highest of 4 bids at $692 psf per plot ratio (ppr), or $198 million, to protect the EC spot at Sembawang Road.
The tender for the EC area at Canberra Drive will shut off on Oct 1, 2026.
Meanwhile, Huttons Asia’s Yip prepares for up to five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer reduced risk to developers. He approximates the highest possible proposal rate to range in between $630 to $700 psf ppr.
He forecasts 3 to 4 bidders for the site, and expects the leading proposal to come in at around $600 to $700 psf ppr.
“Offered the strongly attractive area of this Canberra Drive site, that is fairly nearer to amenities than the earlier plot, we anticipate developer interest for this site to be well-balanced,” mentions Quek.
Age Singapore’s Lim adds that the family member benefit of the Canberra Drive site can boost its appeal to both programmers and future customers, particularly as EC sites are usually located in less central locations.
Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive place to function as a “litmus test” of developers’ confidence complying with the policy change. He adds that the tighter policies can narrow the pool of second-time purchasers and potentially extend the sell-out period for future EC jobs.
Additionally, Justin Quek, replacement team chief executive officer of Realion (OrangeTee & ETC) Team, expects the site to gather designer passion because of the possible suppressed demand for EC units in the area.
“This is the first EC GLS site to be put out to tender since the current procedures on EC purchases were revealed on May 8,” says Eugene Lim, key managing officer of ERA Singapore. The measures include extending the least possible occupation period to 10 years, getting rid of the Deferred Payment System, and raising first-timer priority at new EC release.
