HDB launches tender for first site since tightened EC rules, at Canberra Drive
Period Singapore’s Lim includes that the family member ease of the Canberra Drive site might improve its interest both developers and future customers, specifically as EC websites are normally located in less central locations.
“Offered the highly attractive location of this Canberra Drive place, that is reasonably closer to facilities than the earlier plot, we expect developer interest for this location to be healthy,” mentions Quek.
“This is the very first EC GLS area to be put out to tender since the current actions on EC purchases were revealed on May 8,” claims Eugene Lim, key managing officer of ERA Singapore. The steps include lengthening the least possible occupation period to 10 years, eliminating the Deferred Payment Plan, and growing first-timer priority at new EC launches.
He anticipates 3 to four bidders for the website, and anticipates the top proposal to follow in at approximately $600 to $700 psf ppr.
The last GLS site that was granted in that area was in September last year, when Oriental Pacific Holdings handed in the greatest of 4 bids at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC site at Sembawang Roadway.
That stated, Yip believes that the Canberra Drive website can still see passion from developers because of its appealing locational attributes. Canberra MRT Terminal, on the North-South Line, is located within strolling distance of the site, while institutions such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
An executive condo (EC) location at Canberra Drive has been started for sale under the Confirmed Listing of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site spans 124,167 sq ft and is expected to yield about 185 new residential units.
Additionally, Justin Quek, replacement team CEO of Realion (OrangeTee & AND SO ON) Team, anticipates the website to garner developer rate of interest because of the potential suppressed need for EC units in the area.
The tender for the EC area at Canberra Drive will close on Oct 1, 2026.
Against this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive site to serve as a “litmus test” of property developers’ confidence complying with the policy change. He adds that the tighter rules can tighten the pool of second-time purchasers and possibly lengthen the sell-out duration for future EC tasks.
On The Other Hand, Huttons Asia’s Yip anticipates as much as 5 proposals for the Canberra Drive site, noting that its “bite-size quantum” could offer lower danger to programmers. He approximates the highest quote rate to range in between $630 to $700 psf ppr.
