Sim Lian submits top bid of $794 psf ppr for second EC site at Woodlands Drive 17
The next executive condominium (EC) place at Woodlands Drive 17 lured 3 proposals when it ended on Jan 13, with Sim Lian Group appearing with the best proposal of $484 million ($794 psf per plot ratio).
Mark Yip, Chief Executive Officer of Huttons Asia, points out the testimonial of the revenue ceiling for clients of EC units as one of the factors for the “certain” succeeding proposal.
Northwave was released in 2016, with units costing an ordinary cost of $750 psf, based upon cautions lodged. Finished in 2019, the property development documented around 48 resale purchases in 2025 at an ordinary rate of $1,258 psf.
Looking in advance, Mohan Sandrasegeran, head of research study and data analytics at SRI, anticipates pricing force in the EC market to “end up being extra determined over the lengthier term” amidst the increase of brand-new supply. This consists of the Miltonia Close EC location, that is slated to generate 430 units and will certainly shut its tender on April 14. 2 even more EC sites under the 1H2026 GLS program– Canberra Drive, anticipated to introduce in May, and Sembawang Drive, established for a June launch– will likewise add to the upcoming supply.
The proposals were likewise close in this most recent tender, with Sim Lian’s bid just 0.5% more than the second-highest quote of $482.1 million ($790 psf ppr), sent by a shared venture consisting of Qingjian Realty, Forsea Holdings and Jianan Realty Investments. The 3rd bid originated from a common investing in between Hong Leong Holdings’ Intrepid Investments and TID (a mutual enterprise in between Hong Leong Group and Mitsui Fudosan) at $463.5 million ($760 psf ppr).
Before this, the previous EC plot granted in the location was a plot throughout Woodlands Sight in 2015, that has ever since been turned into the 358-unit Northwave by Hao Yuan Investment.
Sim Lian’s leading quote is simply 1.5% more than the $782 psf ppr paid by City Developments (CDL) when it earned the tender for the neighbouring EC spot at Woodlands Drive 17, after sending the greatest of five offers at the end of the tender in August 2025. CDL’s proposal was taken into consideration a brand-new record at that point.
Wong Shanting, director and head of research study at Newmark Singapore, anticipates both upcoming EC undertakings around Woodlands Drive 17 to release in late 2026 or early 2027 with rates at approximately $1,750 to $1,850 psf. At The Same Time, Leonard Tay, head of study at Knight Frank Singapore, prepares for launch costs over $1,800 psf, with a common cost in between $1,900 psf and $2,000 psf.
The tender for the 2nd EC spot at Woodlands Drive 17 was released in October previous year. It is located on a 99-year leasehold plot spanning 290,412 sq ft. The location has a plot ratio of 2.1 and is anticipated to produce around 560 EC units, with an optimum gross flooring area (GFA) of 609,867 sq ft.
“The slim cost space in between the leading 2 quotes signs solid developer assurance in Woodlands’ continued development, secured by its change right into a local hub,” states ERA Singapore’s Lim.
Both EC locations are near to Woodlands South MRT Terminal (Thomson-East Coast Line), which is 2 halts from Woodlands North Stop, the Singapore terminus for the Johor-Singapore Rapid Transit System (RTS), schedule for conclusion by the closing of 2026. It is likewise close to the Johor-Singapore Special Economic Zone.
Eugene Lim, major controlling officer of ERA Singapore, mirrors this view and indicates that ECs stay an eye-catching choice for customers that fulfill the $16,000 revenue ceiling, provided their family member price contrasted to private homes. Lim adds that need for the upcoming EC property development in the future from HDB upgraders in the Woodlands location, with about 1,411 four-room and bigger apartments anticipated to hit their Minimum Occupation Period (MOP) in between 2022 and 2026.
