HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) location at Canberra Drive has been released for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site spans 124,167 sq ft and is expected to generate roughly 185 brand-new residential units.
In opposition to this backdrop, Huttons Asia CEO Mark Yip anticipates the Canberra Drive site to serve as a “litmus test” of property developers’ confidence following the policy change. He adds that the tighter regulations can tighten the pool of second-time buyers and potentially lengthen the sell-out period for future EC jobs.
That stated, Yip thinks that the Canberra Drive site might still see passion from programmers because of its attractive locational characteristics. Canberra MRT Terminal, on the North-South Line, is located within strolling distance of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km distance.
The last GLS site that was awarded in that location was in September very last year, when Oriental Pacific Holdings handed in the greatest of four bids at $692 psf per plot ratio (ppr), or $198 million, to secure the EC spot at Sembawang Roadway.
He anticipates 3 to 4 bidders for the website, and anticipates the leading bid to come in at around $600 to $700 psf ppr.
“This is the 1st EC GLS area to be put out to tender since the current actions on EC purchases were announced on May 8,” claims Eugene Lim, key directing officer of ERA Singapore. The steps include extending the minimum occupation period to a decade, taking out the Deferred Payment Scheme, and raising first-timer priority at new EC launches.
The tender for the EC area at Canberra Drive will seal on Oct 1, 2026.
Furthermore, Justin Quek, replacement group chief executive officer of Realion (OrangeTee & AND SO ON) Group, anticipates the site to garner designer interest because of the possible suppressed need for EC units in the location.
“Given the strongly attractive place of this Canberra Drive place, which is relatively closer to amenities than the earlier plot, we expect developer interest for this site to be well-balanced,” mentions Quek.
Age Singapore’s Lim includes that the loved one convenience of the Canberra Drive website can enhance its interest both designers and future buyers, especially as EC websites are normally situated in less main areas.
At The Same Time, Huttons Asia’s Yip prepares for approximately five proposals for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer reduced danger to designers. He estimates the highest proposal rate to range in between $630 to $700 psf ppr.
