HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS site that was granted in that area was in September very last year, when Oriental Pacific Holdings handed in the highest possible of 4 proposals at $692 psf per plot ratio (ppr), or $198 million, to secure the EC location at Sembawang Road.
An executive condo (EC) location 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 extends 124,167 sq ft and is expected to yield approximately 185 new residential units.
Period Singapore’s Lim includes that the family member benefit of the Canberra Drive site could improve its interest both designers and future customers, particularly as EC sites are typically located in less central locations.
“Offered the very attractive area of this Canberra Drive place, which is relatively nearer to services than the earlier plot, we expect developer interest for this location to be well-balanced,” notes Quek.
“This is the 1st EC GLS area to be put out to tender since the current steps on EC acquisitions were introduced on May 8,” says Eugene Lim, key managing officer of ERA Singapore. The measures include stretching the least possible occupation period to 10 years, removing the Deferred Payment Plan, and increasing first-timer priority at brand-new EC release.
That said, Yip thinks that the Canberra Drive website might still see rate of interest from programmers because of its appealing locational features. Canberra MRT Station, on the North-South Line, is located within walking range of the site, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km distance.
He anticipates three to 4 bidders for the site, and expects the leading quote to follow in at about $600 to $700 psf ppr.
Meanwhile, Huttons Asia’s Yip prepares for approximately five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer reduced threat to developers. He estimates the highest possible quote rate to range in between $630 to $700 psf ppr.
The tender for the EC site at Canberra Drive are going to seal on Oct 1, 2026.
Additionally, Justin Quek, deputy team chief executive officer of Realion (OrangeTee & ETC) Team, expects the website to gather designer rate of interest due to the possible bottled-up need for EC units in the area.
Against this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive site to function as a “litmus test” of property developers’ confidence complying with the policy change. He includes that the tighter regulations might narrow the pool of second-time buyers and possibly extend the sell-out duration for future EC tasks.
