Sim Lian submits top bid of $794 psf ppr for second EC site at Woodlands Drive 17
Mark Yip, Chief Executive Officer of Huttons Asia, mentions the evaluation of the earnings ceiling for investors of EC units as one of the factors for the “positive” attaining proposal.
The quotes were additionally close in this newest tender, with Sim Lian’s bid just 0.5% greater than the second-highest proposal of $482.1 million ($790 psf ppr), sent by a mutual venture consisting of Qingjian Realty, Forsea Holdings and Jianan Realty Investments. The 3rd bid originated from a mutual project 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).
Wong Shanting, director and head of study at Newmark Singapore, anticipates both upcoming EC undertakings around Woodlands Drive 17 to introduce in late 2026 or early 2027 with costs at about $1,750 to $1,850 psf. On The Other Hand, Leonard Tay, head of research study at Knight Frank Singapore, prepares for launch costs over $1,800 psf, with a common rate in between $1,900 psf and $2,000 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” in the middle of 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.
Northwave was introduced in 2016, with units costing a typical cost of $750 psf, based upon cautions lodged. Finished in 2019, the property development documented around 48 resale deals in 2025 at a typical cost of $1,258 psf.
Sim Lian’s leading quote is simply 1.5% more than the $782 psf ppr paid by City Developments (CDL) when it gained the tender for the neighbouring EC spot at Woodlands Drive 17, after sending the highest possible of five offers at the end of the tender in August 2025. CDL’s quote was thought about a brand-new record after that.
“The slim cost space in between the leading 2 proposals signs solid developer assurance in Woodlands’ continued development, secured by its change right into a local hub,” claims ERA Singapore’s Lim.
The tender for the 2nd EC spot at Woodlands Drive 17 was released in October previous year. It is positioned on a 99-year leasehold plot spanning 290,412 sq ft. The location has a plot ratio of 2.1 and is anticipated to generate around 560 EC units, with an optimum gross flooring area (GFA) of 609,867 sq ft.
Both EC areas are nearby to Woodlands South MRT Stop (Thomson-East Coast Line), which is 2 halts from Woodlands North Terminal, 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 directing officer of ERA Singapore, mirrors this belief and indicates that ECs stay an appealing choice for purchasers that satisfy the $16,000 earnings ceiling, provided their loved one cost contrasted to private homes. Lim adds that need for the upcoming EC property development in the future from HDB upgraders in the Woodlands place, with about 1,411 four-room and wider apartments anticipated to hit their Minimum Occupation Period (MOP) in between 2022 and 2026.
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.
The next executive condominium (EC) location at Woodlands Drive 17 lured 3 quotes when it ended on Jan 13, with Sim Lian Group appearing with the best quote of $484 million ($794 psf per plot ratio).
