HDB launches tender for first site since tightened EC rules, at Canberra Drive
Against this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive place to work as a “litmus test” of developers’ assurance adhering to the policy change. He adds that the tighter rules can tighten the pool of second-time buyers and potentially lengthen the sell-out duration for future EC tasks.
He predicts 3 to four prospective buyers for the website, and expects the leading proposal to come in at approximately $600 to $700 psf ppr.
In Addition, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & AND SO ON) Group, expects the site to amass developer passion as a result of the potential pent-up demand for EC units in the area.
Age Singapore’s Lim includes that the loved one comfort of the Canberra Drive website could boost its attract both programmers and future customers, specifically as EC websites are typically located in much less central areas.
The tender for the EC area at Canberra Drive will shut off on Oct 1, 2026.
At The Same Time, Huttons Asia’s Yip expects approximately 5 proposals for the Canberra Drive site, noting that its “bite-size quantum” might offer lower danger to programmers. He estimates the highest possible proposal rate to range in between $630 to $700 psf ppr.
“Offered the highly attractive area of this Canberra Drive place, that is fairly nearer to amenities than the previously plot, we anticipate developer interest for this site to be well-balanced,” notes Quek.
The last GLS location that was awarded that area was in September last year, when Oriental Pacific Holdings submitted the greatest of four quotes at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC location at Sembawang Roadway.
That stated, Yip reckons that the Canberra Drive website can still see rate of interest from designers as a result of its eye-catching locational attributes. Canberra MRT Terminal, on the North-South Line, is located within walking distance of the site, while colleges such as Sembawang Primary School and Wellington Primary School are located within a 1km span.
An executive condo (EC) site at Canberra Drive has been released for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site extends 124,167 sq ft and is anticipated to yield about 185 new non commercial units.
“This is the 1st EC GLS area to be put out to tender since the most up to date procedures on EC acquisitions were introduced on May 8,” claims Eugene Lim, key directing officer of ERA Singapore. The measures consist of stretching the minimum occupation period to 10 years, getting rid of the Credit Plan, and increasing first-timer priority at new EC launches.
