HDB launches tender for first site since tightened EC rules, at Canberra Drive
Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive place to act as a “litmus test” of developers’ confidence adhering to 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 jobs.
An executive condo (EC) site at Canberra Drive has been released 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 anticipated to yield about 185 new housing units.
The tender for the EC area at Canberra Drive will seal on Oct 1, 2026.
That claimed, Yip thinks that the Canberra Drive website could still see rate of interest from designers as a result of its eye-catching locational features. Canberra MRT Terminal, on the North-South Line, lies within walking distance of the website, while schools such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.
ERA Singapore’s Lim includes that the family member convenience of the Canberra Drive website can boost its appeal to both programmers and future customers, specifically as EC sites are usually situated in less central areas.
Additionally, Justin Quek, replacement team CEO of Realion (OrangeTee & AND SO ON) Team, expects the site to garner designer interest because of the possible bottled-up need for EC units in the location.
He predicts 3 to four bidders for the website, and anticipates the leading bid to come in at around $600 to $700 psf ppr.
The last GLS location that was awarded that area was in September very last year, when Oriental Pacific Holdings submitted the highest of 4 bids at $692 psf per plot ratio (ppr), or $198 million, to protect the EC spot at Sembawang Road.
The Arcady @ Boon Keng floor plan
“Offered the strongly attractive location of this Canberra Drive site, which is relatively closer to services than the earlier plot, we anticipate developer interest for this location to be well-balanced,” notes Quek.
At The Same Time, Huttons Asia’s Yip prepares for approximately five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” could offer reduced risk to developers. He approximates the highest proposal rate to range between $630 to $700 psf ppr.
“This is the first EC GLS site to be put out to tender since the most recent procedures on EC acquisitions were announced on May 8,” says Eugene Lim, key managing officer of ERA Singapore. The measures consist of stretching the least possible occupation period to 10 years, removing the Credit Scheme, and growing first-timer priority at new EC release.
