HDB launches tender for first site since tightened EC rules, at Canberra Drive
ERA Singapore’s Lim adds that the family member benefit of the Canberra Drive website can improve its interest both programmers and future purchasers, especially as EC sites are usually located in less central areas.
Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive site to act as a “litmus test” of property developers’ assurance adhering to the policy change. He includes that the tighter rules might narrow the pool of second-time purchasers and potentially lengthen the sell-out period for future EC projects.
“Offered the strongly attractive place of this Canberra Drive place, which is reasonably nearer to services than the earlier plot, we anticipate developer interest for this location to be well-balanced,” notes Quek.
The last GLS site that was awarded that location was in September very last year, when Oriental Pacific Holdings submitted the highest possible of four bids at $692 psf per plot ratio (ppr), or $198 million, to protect the EC site at Sembawang Road.
That said, Yip reckons that the Canberra Drive website can still see interest from programmers as a result of its attractive locational attributes. 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 lie within a 1km span.
An executive condo (EC) spot at Canberra Drive has been started for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site spans 124,167 sq ft and is expected to generate about 185 new housing units.
At The Same Time, Huttons Asia’s Yip prepares for as much as 5 proposals for the Canberra Drive site, keeping in mind that its “bite-size quantum” could offer lower risk to designers. He estimates the greatest bid cost to range in between $630 to $700 psf ppr.
He anticipates 3 to 4 bidders for the website, and expects the top bid to follow in at around $600 to $700 psf ppr.
Furthermore, Justin Quek, replacement team CEO of Realion (OrangeTee & ETC) Team, anticipates the site to amass designer passion because of the prospective suppressed need for EC units in the location.
“This is the 1st EC GLS site to be put out to tender since the latest actions on EC acquisitions were revealed on May 8,” claims Eugene Lim, key directing officer of ERA Singapore. The steps consist of extending the minimum occupation period to a decade, removing the Credit Scheme, and growing first-timer priority at brand-new EC launches.
The tender for the EC area at Canberra Drive are going to close on Oct 1, 2026.
