HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) spot at Canberra Drive has been launched 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 expected to yield approximately 185 brand-new residential units.
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive place to function as a “litmus test” of developers’ trust complying with the policy change. He adds that the tighter regulations might narrow the pool of second-time buyers and potentially lengthen the sell-out duration for future EC jobs.
That said, Yip reckons that the Canberra Drive website could still see passion from designers as a result of its attractive locational qualities. Canberra MRT Terminal, on the North-South Line, is located within walking distance of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km radius.
“This is the first EC GLS area to be put out to tender since the latest steps on EC acquisitions 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, eliminating the Deferred Payment Scheme, and raising first-timer priority at brand-new EC launches.
Meyer Blue UOL Group and Singapore Land Limited
Furthermore, Justin Quek, deputy team chief executive officer of Realion (OrangeTee & AND SO ON) Group, anticipates the website to garner designer rate of interest because of the prospective suppressed need for EC units in the area.
The last GLS site that was granted that area was in September last year, when Oriental Pacific Holdings handed in the highest of four proposals at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC location at Sembawang Roadway.
The tender for the EC area at Canberra Drive are going to shut off on Oct 1, 2026.
At The Same Time, Huttons Asia’s Yip expects approximately five bids for the Canberra Drive site, noting that its “bite-size quantum” might offer reduced danger to developers. He estimates the highest proposal cost to range between $630 to $700 psf ppr.
ERA Singapore’s Lim includes that the relative ease of the Canberra Drive site can enhance its appeal to both developers and future purchasers, especially as EC websites are generally situated in much less main locations.
He predicts 3 to four bidders for the site, and anticipates the leading proposal to follow in at approximately $600 to $700 psf ppr.
“Given the very attractive place of this Canberra Drive site, which is relatively closer to services than the previously plot, we expect developer interest for this site to be healthy,” notes Quek.
