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) program. The 99-year leasehold EC site spans 124,167 sq ft and is expected to yield around 185 brand-new residential units.
ERA Singapore’s Lim adds that the relative convenience of the Canberra Drive website might improve its interest both designers and future customers, particularly as EC websites are typically located in less main locations.
That stated, Yip believes that the Canberra Drive site might still see passion from developers due to its attractive locational qualities. Canberra MRT Terminal, on the North-South Line, is located within walking range of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km span.
The tender for the EC area at Canberra Drive are going to close on Oct 1, 2026.
“Provided the strongly attractive location of this Canberra Drive site, that is relatively nearer to facilities than the previously plot, we anticipate developer interest for this location to be healthy,” notes Quek.
“This is the first EC GLS site to be put out to tender since the latest actions on EC purchases were introduced on May 8,” claims Eugene Lim, key executive officer of ERA Singapore. The steps consist of stretching the least possible occupation period to one decade, getting rid of the Deferred Payment Plan, and increasing first-timer priority at new EC launches.
The last GLS location that was granted in that location was in September last year, when Oriental Pacific Holdings submitted the greatest of 4 quotes at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC spot at Sembawang Roadway.
He forecasts 3 to 4 bidders for the site, and anticipates the leading bid to follow in at about $600 to $700 psf ppr.
Against this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive site to function as a “litmus test” of developers’ trust adhering to the policy change. He includes that the tighter regulations can narrow the pool of second-time buyers and potentially lengthen the sell-out period for future EC projects.
At The Same Time, Huttons Asia’s Yip anticipates approximately five bids for the Canberra Drive site, keeping in mind that its “bite-size quantum” could offer reduced danger to designers. He estimates the highest quote cost to range between $630 to $700 psf ppr.
In Addition, Justin Quek, replacement group CEO of Realion (OrangeTee & ETC) Team, anticipates the site to garner designer passion as a result of the possible bottled-up demand for EC units in the area.
