HDB launches tender for first site since tightened EC rules, at Canberra Drive

The 99-year leasehold EC site (in blue) spans 124,167 sq ft and is expected to yield approximately 185 new residential units (Photo: EdgeProp LandLens)

An executive condo (EC) site at Canberra Drive has been launched for sale under the Confirmed List of the 1H2026 Government Land Sales (GLS) programme. The 99-year leasehold EC site spans 124,167 sq ft and is expected to yield approximately 185 new residential units.

“This is the first EC GLS site to be put out to tender since the latest measures on EC purchases were announced on May 8,” says Eugene Lim, key executive officer of ERA Singapore. The measures include extending the minimum occupation period to 10 years, removing the Deferred Payment Scheme, and increasing first-timer priority at new EC launches.

Against this backdrop, Huttons Asia CEO Mark Yip expects the Canberra Drive site to serve as a “litmus test” of developers’ confidence following the policy change. He adds that the tighter rules could narrow the pool of second-time buyers and potentially lengthen the sell-out period for future EC projects.

That said, Yip reckons that the Canberra Drive site could still see interest from developers due to its attractive locational attributes. Canberra MRT Station, on the North-South Line, is located within walking distance of the site, while schools such as Sembawang Primary School and Wellington Primary School are located within a 1km radius.

ERA Singapore’s Lim adds that the relative convenience of the Canberra Drive site could enhance its appeal to both developers and future buyers, particularly as EC sites are typically located in less central areas.

Additionally, Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group, expects the site to garner developer interest due to the potential pent-up demand for EC units in the area.

The last GLS site that was awarded in that area was in September last year, when Oriental Pacific Holdings submitted the highest of four bids at $692 psf per plot ratio (ppr), or $198 million, to secure the EC site at Sembawang Road.

“Given the highly attractive location of this Canberra Drive site, which is relatively closer to amenities than the earlier plot, we expect developer interest for this site to be healthy,” notes Quek.

He predicts three to four bidders for the site, and expects the top bid to come in at around $600 to $700 psf ppr.

Meanwhile, Huttons Asia’s Yip anticipates up to five bids for the Canberra Drive site, noting that its “bite-size quantum” could offer lower risk to developers. He estimates the highest bid price to range between $630 to $700 psf ppr.

The tender for the EC site at Canberra Drive will close on Oct 1, 2026.