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 yield approximately 185 brand-new residential units.
In opposition to this backdrop, Huttons Asia CEO Mark Yip anticipates the Canberra Drive place to serve as a “litmus test” of developers’ trust following the policy change. He adds that the tighter policies can tighten the pool of second-time customers and potentially extend the sell-out duration for future EC jobs.
The tender for the EC site at Canberra Drive will seal on Oct 1, 2026.
He forecasts 3 to four prospective buyers for the website, and anticipates the top proposal to follow in at approximately $600 to $700 psf ppr.
At The Same Time, Huttons Asia’s Yip anticipates approximately 5 proposals for the Canberra Drive site, noting that its “bite-size quantum” can offer reduced risk to developers. He approximates the highest possible proposal price to range in between $630 to $700 psf ppr.
Narra Residences Santarli Realty and Apex Asia
“This is the 1st EC GLS site to be put out to tender since the current procedures on EC acquisitions were introduced on May 8,” states Eugene Lim, key managing officer of ERA Singapore. The measures consist of stretching the minimum occupation period to a decade, eliminating the Credit Scheme, and raising first-timer priority at brand-new EC release.
That claimed, Yip believes that the Canberra Drive site might still see passion from designers because of its attractive locational features. Canberra MRT Station, on the North-South Line, is located within strolling distance of the site, while schools such as Sembawang Primary School and Wellington Primary School lie within a 1km distance.
The last GLS site that was awarded in that area was in September last year, when Oriental Pacific Holdings sent the highest possible of four proposals at $692 psf per plot ratio (ppr), or $198 million, to secure the EC spot at Sembawang Roadway.
Period Singapore’s Lim includes that the family member comfort of the Canberra Drive website might boost its attract both designers and future purchasers, particularly as EC sites are commonly situated in much less central areas.
“Provided the strongly attractive area of this Canberra Drive site, which is reasonably nearer to services than the earlier plot, we anticipate developer interest for this site to be healthy,” notes Quek.
Additionally, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & ETC) Group, anticipates the site to amass designer interest due to the possible bottled-up need for EC units in the location.
