HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) spot at Canberra Drive has been launched for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site covers 124,167 sq ft and is expected to generate roughly 185 new residential units.
The tender for the EC site at Canberra Drive are going to close on Oct 1, 2026.
ERA Singapore’s Lim includes that the relative comfort of the Canberra Drive website might improve its interest both developers and future purchasers, specifically as EC sites are commonly situated in less central areas.
Against this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive site to serve as a “litmus test” of property developers’ trust complying with the policy change. He includes that the tighter policies could tighten the pool of second-time purchasers and possibly extend the sell-out period for future EC projects.
“Provided the highly attractive area of this Canberra Drive place, that is fairly nearer to amenities than the previously plot, we anticipate developer interest for this location to be healthy,” notes Quek.
“This is the first EC GLS area to be put out to tender since the most up to date procedures on EC acquisitions were revealed on May 8,” says Eugene Lim, key executive officer of ERA Singapore. The steps consist of extending the least possible occupation period to a decade, getting rid of the Deferred Payment Plan, and growing first-timer priority at brand-new EC launches.
At The Same Time, Huttons Asia’s Yip expects up to five proposals for the Canberra Drive site, noting that its “bite-size quantum” can offer lower danger to designers. He approximates the highest quote cost to range in between $630 to $700 psf ppr.
That claimed, Yip thinks that the Canberra Drive site could still see rate of interest from designers because of its attractive locational attributes. Canberra MRT Terminal, on the North-South Line, lies within strolling distance of the website, while institutions such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.
The last GLS location that was granted that location was in September very last year, when Oriental Pacific Holdings handed in the greatest of 4 proposals at $692 psf per plot ratio (ppr), or $198 million, to protect the EC site at Sembawang Road.
In Addition, Justin Quek, replacement team chief executive officer of Realion (OrangeTee & ETC) Team, anticipates the website to amass designer interest because of the prospective bottled-up need for EC units in the location.
He forecasts three to 4 prospective buyers for the website, and expects the leading bid to follow in at approximately $600 to $700 psf ppr.
