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 Listing 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 non commercial units.
That claimed, Yip believes that the Canberra Drive site might still see rate of interest from developers due to its appealing locational features. Canberra MRT Station, on the North-South Line, lies within strolling distance of the site, while institutions such as Sembawang Primary School and Wellington Primary School are located within a 1km distance.
ERA Singapore’s Lim adds that the relative convenience of the Canberra Drive website can improve its attract both programmers and future buyers, especially as EC websites are typically situated in less main locations.
Amberwood at Holland condo floor plan
He forecasts three to four bidders for the website, and anticipates the leading quote to follow in at around $600 to $700 psf ppr.
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive site to serve as a “litmus test” of property developers’ confidence adhering to the policy change. He adds that the tighter rules can tighten the pool of second-time purchasers and potentially lengthen the sell-out period for future EC tasks.
The tender for the EC site at Canberra Drive will shut on Oct 1, 2026.
Additionally, Justin Quek, deputy group chief executive officer of Realion (OrangeTee & ETC) Team, expects the site to gather developer interest due to the prospective pent-up need for EC units in the area.
The last GLS location that was granted that area was in September very last year, when Oriental Pacific Holdings submitted the highest possible of four proposals at $692 psf per plot ratio (ppr), or $198 million, to secure the EC spot at Sembawang Road.
“This is the 1st EC GLS area to be put out to tender since the most recent actions on EC acquisitions were revealed on May 8,” says Eugene Lim, key directing officer of ERA Singapore. The measures include extending the least possible occupation period to one decade, removing the Credit Scheme, and growing first-timer priority at brand-new EC release.
“Provided the very attractive location of this Canberra Drive place, which is reasonably nearer to facilities than the previously plot, we expect developer interest for this site to be healthy,” notes Quek.
On The Other Hand, Huttons Asia’s Yip prepares for up to 5 proposals for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer reduced threat to developers. He estimates the highest proposal cost to range in between $630 to $700 psf ppr.
