HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS location that was granted in that location 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 safeguard the EC site at Sembawang Roadway.
That said, Yip believes that the Canberra Drive website can still see passion from programmers because of its appealing locational attributes. Canberra MRT Terminal, on the North-South Line, lies within walking distance of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
He anticipates 3 to four bidders for the site, and anticipates the leading bid to come in at around $600 to $700 psf ppr.
Furthermore, Justin Quek, deputy group CEO of Realion (OrangeTee & AND SO ON) Team, expects the site to gather programmer rate of interest due to the possible pent-up demand for EC units in the area.
In opposition to this backdrop, Huttons Asia CEO Mark Yip anticipates the Canberra Drive site to work as a “litmus test” of property developers’ assurance following the policy change. He adds that the tighter policies can narrow the pool of second-time buyers and potentially extend the sell-out duration for future EC tasks.
The tender for the EC area at Canberra Drive will shut on Oct 1, 2026.
Meanwhile, Huttons Asia’s Yip prepares for approximately 5 proposals for the Canberra Drive site, noting that its “bite-size quantum” might offer reduced danger to designers. He estimates the highest quote cost to range in between $630 to $700 psf ppr.
An executive condo (EC) location at Canberra Drive has been released for sale under the Confirmed Listing of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site extends 124,167 sq ft and is anticipated to produce roughly 185 new residential units.
Period Singapore’s Lim adds that the loved one benefit of the Canberra Drive site might improve its attract both designers and future buyers, especially as EC websites are normally located in much less central locations.
“This is the first EC GLS area to be put out to tender since the most recent procedures on EC acquisitions were revealed on May 8,” states Eugene Lim, key directing officer of ERA Singapore. The measures consist of lengthening the least possible occupation period to a decade, getting rid of the Deferred Payment Scheme, and increasing first-timer priority at brand-new EC release.
“Given the strongly attractive place of this Canberra Drive place, which is relatively nearer to facilities than the earlier plot, we expect developer interest for this site to be well-balanced,” notes Quek.
