HDB launches tender for first site since tightened EC rules, at Canberra Drive
An executive condo (EC) location 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 extends 124,167 sq ft and is anticipated to produce around 185 new residential units.
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive place to function as a “litmus test” of developers’ confidence adhering to the policy change. He includes that the tighter regulations could narrow the pool of second-time buyers and possibly extend the sell-out period for future EC tasks.
The last GLS site that was awarded in that location was in September very last year, when Oriental Pacific Holdings sent the greatest of 4 proposals at $692 psf per plot ratio (ppr), or $198 million, to secure the EC site at Sembawang Road.
“Offered the highly attractive area of this Canberra Drive site, which is relatively nearer to services than the previously plot, we expect developer interest for this site to be healthy,” notes Quek.
The tender for the EC site at Canberra Drive are going to shut off on Oct 1, 2026.
“This is the 1st EC GLS site to be put out to tender since the most up to date procedures on EC acquisitions were introduced on May 8,” says Eugene Lim, key executive officer of ERA Singapore. The measures consist of stretching the minimum occupation period to one decade, removing the Deferred Payment Plan, and growing first-timer priority at brand-new EC release.
At The Same Time, Huttons Asia’s Yip expects as much as five proposals for the Canberra Drive site, keeping in mind that its “bite-size quantum” can offer reduced threat to designers. He approximates the highest possible quote rate to range between $630 to $700 psf ppr.
Age Singapore’s Lim adds that the family member comfort of the Canberra Drive site could boost its attract both designers and future purchasers, specifically as EC sites are generally located in less central locations.
That claimed, Yip believes that the Canberra Drive site could still see interest from designers because of its appealing locational characteristics. Canberra MRT Station, on the North-South Line, is located within walking range of the website, while schools such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.
He anticipates three to four prospective buyers for the site, and anticipates the top proposal to follow in at about $600 to $700 psf ppr.
Additionally, Justin Quek, replacement team CEO of Realion (OrangeTee & AND SO ON) Team, expects the website to gather designer passion as a result of the possible bottled-up need for EC units in the location.
