HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) spot 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 covers 124,167 sq ft and is expected to generate around 185 brand-new non commercial units.
Additionally, Justin Quek, deputy team CEO of Realion (OrangeTee & ETC) Group, expects the site to amass developer passion as a result of the potential suppressed demand for EC units in the area.
The tender for the EC area at Canberra Drive will close on Oct 1, 2026.
Age Singapore’s Lim includes that the loved one benefit of the Canberra Drive website could enhance its interest both programmers and future customers, specifically as EC websites are usually located in less central locations.
In opposition to this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive site to work as a “litmus test” of developers’ assurance following the policy change. He includes that the tighter guidelines could tighten the pool of second-time customers and possibly extend the sell-out period for future EC jobs.
That said, Yip thinks that the Canberra Drive site could still see interest from developers due to its eye-catching locational qualities. Canberra MRT Station, on the North-South Line, is located within walking distance of the website, while colleges such as Sembawang Primary School and Wellington Primary School are located within a 1km span.
At The Same Time, Huttons Asia’s Yip prepares for up to 5 bids for the Canberra Drive site, noting that its “bite-size quantum” could offer reduced danger to developers. He approximates the highest quote rate to range between $630 to $700 psf ppr.
He anticipates 3 to four bidders for the site, and expects the top quote to follow in at around $600 to $700 psf ppr.
The last GLS site that was awarded in that location was in September very last year, when Oriental Pacific Holdings sent the highest of 4 bids at $692 psf per plot ratio (ppr), or $198 million, to secure the EC location at Sembawang Road.
“Provided the highly attractive place of this Canberra Drive site, which is relatively closer to facilities than the earlier plot, we expect developer interest for this site to be healthy,” mentions Quek.
“This is the first EC GLS area to be put out to tender since the most recent measures on EC purchases were introduced on May 8,” says Eugene Lim, key directing officer of ERA Singapore. The steps consist of stretching the least possible occupation period to 10 years, removing the Credit System, and raising first-timer priority at brand-new EC launches.
