HDB launches tender for first site since tightened EC rules, at Canberra Drive
The last GLS location that was granted in that location was in September very last year, when Oriental Pacific Holdings handed in the highest of four proposals at $692 psf per plot ratio (ppr), or $198 million, to secure the EC site at Sembawang Road.
Additionally, Justin Quek, replacement team chief executive officer of Realion (OrangeTee & ETC) Group, anticipates the website to amass programmer rate of interest due to the potential bottled-up demand for EC units in the location.
The tender for the EC area at Canberra Drive are going to shut on Oct 1, 2026.
An executive condo (EC) site at Canberra Drive has been started for sale under the Confirmed Listing of the 1H2026 Government Land Sales (GLS) program. The 99-year leasehold EC site extends 124,167 sq ft and is anticipated to generate approximately 185 brand-new non commercial units.
Period Singapore’s Lim includes that the loved one benefit of the Canberra Drive website could enhance its appeal to both developers and future buyers, especially as EC websites are generally situated in much less main locations.
In opposition to this backdrop, Huttons Asia chief executive officer Mark Yip expects the Canberra Drive site to act as a “litmus test” of developers’ trust adhering to the policy change. He includes that the tighter rules can narrow the pool of second-time customers and potentially extend the sell-out duration for future EC jobs.
He forecasts 3 to 4 prospective buyers for the site, and anticipates the top bid to come in at about $600 to $700 psf ppr.
That said, Yip reckons that the Canberra Drive site might still see passion from developers as a result of its eye-catching 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 distance.
Bloomsbury Residences floor plan
“This is the very first EC GLS site to be put out to tender since the latest measures on EC purchases were announced 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, eliminating the Credit Plan, and raising first-timer priority at brand-new EC release.
“Given the strongly attractive area of this Canberra Drive site, that is fairly nearer to facilities than the previously plot, we expect developer interest for this site to be well-balanced,” notes Quek.
Meanwhile, Huttons Asia’s Yip expects up to 5 proposals for the Canberra Drive site, noting that its “bite-size quantum” might offer reduced risk to developers. He estimates the highest possible bid rate to range in between $630 to $700 psf ppr.
