HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) site at Canberra Drive has been launched for sale under the Confirmed Checklist of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site spans 124,167 sq ft and is anticipated to generate about 185 new residential units.
Furthermore, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & ETC) Group, expects the site to gather designer rate of interest because of the possible bottled-up demand for EC units in the area.
ERA Singapore’s Lim includes that the loved one convenience of the Canberra Drive site might improve its interest both developers and future buyers, especially as EC sites are generally situated in less main areas.
The tender for the EC area at Canberra Drive are going to shut on Oct 1, 2026.
That stated, Yip thinks that the Canberra Drive website can still see passion from developers due to its attractive locational qualities. Canberra MRT Station, on the North-South Line, lies within strolling range of the website, while colleges such as Sembawang Primary School and Wellington Primary School lie within a 1km distance.
At The Same Time, Huttons Asia’s Yip prepares for approximately 5 proposals for the Canberra Drive site, keeping in mind that its “bite-size quantum” might offer reduced risk to developers. He estimates the highest possible quote cost to range in between $630 to $700 psf ppr.
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip anticipates the Canberra Drive site to serve as a “litmus test” of developers’ trust following the policy change. He adds that the tighter rules can tighten the pool of second-time buyers and possibly lengthen the sell-out period for future EC projects.
Upperhouse UOL Group Limited and Singapore Land Group
“This is the first EC GLS site to be put out to tender since the latest procedures on EC acquisitions were introduced on May 8,” claims Eugene Lim, key directing officer of ERA Singapore. The measures consist of lengthening the least possible occupation period to a decade, getting rid of the Credit System, and increasing first-timer priority at new EC launches.
“Given the strongly attractive location of this Canberra Drive place, that is reasonably nearer to services than the earlier plot, we expect developer interest for this site to be well-balanced,” notes Quek.
He predicts 3 to four prospective buyers for the website, and expects the leading quote to come in at around $600 to $700 psf ppr.
The last GLS location that was awarded in that location was in September very last year, when Oriental Pacific Holdings submitted the highest possible of 4 proposals at $692 psf per plot ratio (ppr), or $198 million, to safeguard the EC spot at Sembawang Roadway.
