HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) location at Canberra Drive has been started 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 anticipated to generate around 185 new residential units.
That claimed, Yip reckons that the Canberra Drive website can still see passion from programmers due to its appealing locational qualities. Canberra MRT Terminal, on the North-South Line, lies within strolling distance of the site, while institutions such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
In Addition, Justin Quek, replacement team CEO of Realion (OrangeTee & ETC) Group, anticipates the website to garner programmer interest due to the possible suppressed demand for EC units in the location.
“This is the 1st EC GLS site to be put out to tender since the latest actions on EC purchases were introduced on May 8,” states Eugene Lim, key executive officer of ERA Singapore. The measures include extending the least possible occupation period to one decade, taking out the Credit System, and raising first-timer priority at brand-new EC release.
The last GLS location that was awarded in that location was in September last year, when Oriental Pacific Holdings handed in the highest possible of four quotes at $692 psf per plot ratio (ppr), or $198 million, to protect the EC spot at Sembawang Roadway.
He forecasts 3 to four bidders for the site, and anticipates the top quote to follow in at around $600 to $700 psf ppr.
ERA Singapore’s Lim includes that the loved one comfort of the Canberra Drive website can boost its interest both programmers and future buyers, specifically as EC websites are typically situated in less central areas.
Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive place to work as a “litmus test” of developers’ trust complying with the policy change. He adds that the tighter rules might narrow the pool of second-time buyers and possibly extend the sell-out period for future EC projects.
“Given the very attractive area of this Canberra Drive site, that is relatively nearer to facilities than the earlier plot, we anticipate developer interest for this location to be healthy,” mentions Quek.
The tender for the EC area at Canberra Drive will shut on Oct 1, 2026.
Meanwhile, Huttons Asia’s Yip prepares for as much as five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” might offer reduced danger to developers. He estimates the greatest proposal rate to range between $630 to $700 psf ppr.
