HDB launches tender for first site since tightened EC rules, at Canberra Drive
ERA Singapore’s Lim includes that the loved one convenience of the Canberra Drive site can enhance its attract both developers and future buyers, specifically as EC sites are generally situated in much less main areas.
On The Other Hand, Huttons Asia’s Yip anticipates up to five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer lower threat to developers. He estimates the greatest proposal price to range in between $630 to $700 psf ppr.
“Given the highly attractive place of this Canberra Drive site, which is relatively nearer to facilities than the previously plot, we expect developer interest for this site to be healthy,” notes Quek.
He predicts 3 to 4 bidders for the website, and expects the leading quote to follow in at about $600 to $700 psf ppr.
The tender for the EC area at Canberra Drive will shut off on Oct 1, 2026.
Additionally, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & ETC) Team, expects the website to gather programmer passion due to the prospective stifled need for EC units in the location.
That claimed, Yip thinks that the Canberra Drive website might still see passion from designers because of its eye-catching locational features. Canberra MRT Terminal, on the North-South Line, lies within strolling distance of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km distance.
The last GLS location that was granted that location was in September very last year, when Oriental Pacific Holdings sent the highest of 4 quotes at $692 psf per plot ratio (ppr), or $198 million, to protect the EC spot at Sembawang Roadway.
An executive condo (EC) spot at Canberra Drive has been launched for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site spans 124,167 sq ft and is expected to generate approximately 185 new non commercial units.
In opposition to 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 includes that the tighter regulations could narrow the pool of second-time buyers and potentially extend the sell-out duration for future EC projects.
“This is the first EC GLS area to be put out to tender since the current procedures on EC purchases were introduced on May 8,” says Eugene Lim, key directing officer of ERA Singapore. The measures consist of extending the least possible occupation period to one decade, getting rid of the Deferred Payment Scheme, and growing first-timer priority at brand-new EC release.
