Canberra Drive EC site launched as first tender after new rules

Analysts expect cautious bidding as developers assess the impact of tighter EC ownership and financing rules.

HDB has launched an executive condominium (EC) site at Canberra Drive for sale by public tender, marking the first EC site offered after recent changes to the EC Housing Scheme.

The site can potentially yield about 185 residential units and is one of nine Confirmed List sites under the Government Land Sales Programme for the first half of 2026. The tender will close at 12 noon on 1 October 2026.

The future project will be subject to the new EC measures announced on 8 May, including a 10-year minimum occupation period, the removal of the Deferred Payment Scheme, and enhanced priority for first-time buyers.

Analysts expect the site to draw fair to healthy interest, supported by the relative affordability of ECs compared with new private condominiums and the site’s location near key amenities.

The Canberra Drive site is close to Canberra MRT station, Bukit Canberra, Sembawang Shopping Centre, and Canberra Plaza. PropNex also noted that Sembawang Primary School and Wellington Primary School are within 1 km of the site.

Realion said the site is more attractive than the earlier Sembawang Road EC plot as it is closer to amenities. The Sembawang Road site was awarded in September 2025 at $692 per square foot per plot ratio (psf ppr) after drawing four bids.

However, analysts said developers are likely to bid more conservatively as they assess how the new EC measures could affect demand.

PropNex said the 90% priority allocation for first-time buyers over two years could slow initial take-up, as second-time buyers had previously accounted for up to 30% of sales within the first month of an EC launch. The longer minimum occupation period may also make buyers more selective.

PropNex expects the site to draw two to four bids, with a top bid of around $620 to $660 psf ppr. Realion expects three to four bidders and a highest bid of $600 to $700 psf ppr.

Analysts said longer-term plans for the area, including more public housing in Sembawang North and the future transformation of Sembawang Shipyard into a mixed-use waterfront district, could support demand for the future project.

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