# Canberra Drive EC site draws most bids in eight years, sets new record land price of $825 psf ppr - **Source:** EdgeProp Singapore - **Published:** 2026-10-01T11:45:20.000Z - **Author:** Ashley Lo - **Original:** https://www.edgeprop.sg/property-news/canberra-drive-ec-site-draws-most-bids-eight-years-sets-new-record-land-price-825-psf-ppr - **Topics:** Private Residential, New Launches, Government & Policy ## Featured rationale The result signals continued developer appetite for EC land, although the 128.5% bid spread and northern supply pipeline may encourage greater restraint at future tenders. ## AI summary The Canberra Drive EC tender attracted 13 bids, the strongest turnout in eight years, and set a record land price of $825 psf ppr. ## Original article A consortium comprising Santarli Realty, Heeton Holdings, Kay Lim Holdings and Sunray Group Holdings has emerged as the top bidder for an executive condominium (EC) site at Canberra Drive, with an offer of $163.9 million, or about $825 psf per plot ratio (ppr). The 99-year leasehold Government Land Sale (GLS) site attracted 13 bids when its tender closed on Oct 1 — far exceeding analysts’ expectations of three to five bids and marking the strongest turnout for an EC land tender in eight years. The top bid also sets a new benchmark for EC land prices, Huttons Asia CEO Mark Yip says. It exceeds the previous record of $794 psf ppr set by Sim Lian Group for the second EC site at Woodlands Drive 17, when that tender closed on Jan 13. Read also: URA launches tender for East Coast Road GLS site; opens applications for Serangoon North View plot The strong competition for the Canberra Drive site comes despite cooling measures announced in May that tightened several rules governing new EC purchases. The Santarli-Kay Lim-Heeton-Sunray consortium’s bid was 2.74% higher than the second-highest offer of $159.43 million, or $803 psf ppr, submitted by a joint venture between TID and Hong Leong Group. The third-highest bid stood at $798 psf ppr from a consortium comprising Apex Asia Development, BHCC Development, and HDB Development. [object Object] Other bids included $770 psf ppr from a joint venture between Chan Rong Fen Construction and BS Capital, $735 psf ppr from City Developments Ltd (CDL), and $710 psf ppr from Kheng Leong. The lowest bid, submitted by Sim Lian Group, stood at $71.72 million, or $361 psf ppr, putting the spread between the highest and lowest bids at 128.5%. Recent measures Yip attributes the wide range of bids partly to uncertainty over how recent policy changes will affect demand for new ECs. Read also: Malaysian developer Eco World tops seven bids for Lorong Puntong GLS site at $1,612 psf ppr in tender debut Measures announced on May 8 included extending the minimum occupation period for new ECs to 10 years from five, removing the Deferred Payment Scheme, and increasing the allocation priority for first-timer households. Under the revised EC framework, first-timer allocation will increase from 70% to 90%, while the priority period will extend from one month to two years. "This means that second-timer households would generally account for only 10% of the initial allocation during this period," notes Mohan Sandrasegeran, SRI head of research and data analytics. The monthly household income ceiling for EC buyers was subsequently raised to $18,000 in August, a move that some developers may have viewed as widening the pool of eligible buyers, Huttons' Yip adds. Despite the tighter rules, the tender drew more than double the bids analysts generally expected. The mix of bidders also included developers that have been less active in the EC market in recent years, alongside established EC players. Master Contract Services, for instance, previously developed The Amore EC in Punggol with Keong Hong after winning the site in 2013. The Canberra Drive tender also attracted a bid from a joint venture between Chan Rong Fen Building Construction and BS Capital Group, which appears to be making its first foray into an EC land tender. The relatively smaller scale of the Canberra Drive EC site may have given developers greater confidence in assessing the implications of the revised EC framework, says Sandrasegeran. Read also: Smaller residential GLS sites released at Lorong Puntong/Sin Ming Ave and Kitchener Link Highest bid in eight years The 13 bids are the most received for an EC site since 2018, when the Sumang Walk site in Punggol attracted a record 17 offers. Two years earlier, the Anchorvale Lane site, later developed into Rivercove Residences, drew 16 bids. The 291,235 sq ft Sumang Walk site was awarded to a joint venture between CDL and TID — a joint venture between Hong Leong Holdings and Mitsui Fudosan — for $509.37 million, or $583 psf ppr. The site was subsequently developed into the 820-unit Piermont Grand, which launched in July 2019 at an average price of about $1,080 psf, making it the first EC to launch above the $1,000 psf mark. The project was completed in 2023. The latest tender signals continued developer appetite for EC sites even as the government has sought to temper demand in the segment. Sixth EC site in the Canberra-Sembawang area The Canberra Drive site was launched for tender on May 26. Spanning 124,167 sq ft, it can yield about 185 homes, making it a relatively small EC project. The previous EC site released in the Canberra-Sembawang area was at Sembawang Road. The site, which can yield about 265 units, drew four bids when its tender closed in 2025. It was awarded in September that year to Oriental Pacific Development for $197.8 million, or $692 psf ppr. The Canberra Drive plot marks the sixth EC site to be released in the Canberra area. Completed EC projects in the neighbourhood include the 638-unit The Brownstone, launched in July 2015; the 632-unit The Visionaire, launched in April 2016; the 496-unit Parc Canberra, launched in February 2020; and the 413-unit Provence Residence, launched in May 2021. The Sembawang Road site awarded in 2025 is the fifth. The site is about a five-minute walk from Canberra MRT Station. Schools within 1km include Sembawang Primary School and Wellington Primary School. At a top bid land rate of $825 psf ppr, PropNex head of research and content Wong Siew Ying projects the average selling price of the new EC project may be around $1,900 psf. The tender for another EC plot in Admiralty Walk will close on Dec 17, and it will provide "a second reading of how the market values EC land under the new measures". The site is likely to yield about 450 units and is farther from an MRT station, notes Wong. [object Object] “The strong turnout this time does not mean caution has been thrown to the wind for future EC tenders," says Eugene Lim, ERA Singapore key executive officer. Developer participation will still likely hinge on upcoming supply and site-specific attributes, alongside the new EC rules. For instance, in the North, Wynwood Grand – alongside upcoming projects at Sembawang Road, Woodlands Drive 17, Miltonia Close, and Canberra Drive itself – could add about 1,860 units to the EC pipeline. "As such, developers are likely to keep this supply wave firmly in mind before throwing their hat in the ring for the Admiralty Walk EC site," says Lim. “Rising interest rates and a softer domestic job market could likewise dampen homebuying sentiment, which may encourage developers to exercise greater restraint at upcoming tenders.” ## Chinese translation > Translation model: grok_cli ### 坎贝拉通道（Canberra Drive）执行共管公寓地块八年内吸引最多投标，创下每平方英尺楼面面积新元825元的新地价纪录 坎贝拉通道（Canberra Drive）执行共管公寓地块吸引了13份投标——为2018年以来最多，当时Sumang Walk吸引了17份投标——并创下新的地价纪录。 由Santarli Realty、Heeton Holdings、Kay Lim Holdings及Sunray Group Holdings组成的财团，以新元1.639亿元（约合每平方英尺楼面面积新元825元，psf ppr）的出价，成为坎贝拉通道（Canberra Drive）执行共管公寓（EC）地块的最高投标者。 该幅99年租赁地契的政府售地计划（GLS）地块于10月1日截标时吸引了13份投标，远超分析师预期的三至五份，并创下八年来执行共管公寓土地招标的最强参与度。 合登亚洲（Huttons Asia）首席执行官Mark Yip表示，这一最高出价也为执行共管公寓地价树立了新基准。 该出价高于森联集团（Sim Lian Group）在兀兰通道17（Woodlands Drive 17）第二幅执行共管公寓地块所创下的每平方英尺楼面面积新元794元先前纪录，该招标于1月13日截止。 另请阅读：市区重建局（URA）为东海岸路（East Coast Road）政府售地计划地块推出招标；并开放Serangoon North View地块的申请 尽管5月公布的降温措施收紧了多项规管新执行共管公寓购买的规定，坎贝拉通道地块的竞争依然激烈。 Santarli-Kay Lim-Heeton-Sunray财团的出价，比TID与丰隆集团（Hong Leong Group）合资企业提交的次高出价新元1.5943亿元（即每平方英尺楼面面积新元803元）高出2.74%。 第三高出价为每平方英尺楼面面积新元798元，来自由Apex Asia Development、BHCC Development及HDB Development组成的财团。 [object Object] 其他出价包括Chan Rong Fen Construction与BS Capital合资企业的每平方英尺楼面面积新元770元、城市发展有限公司（CDL）的每平方英尺楼面面积新元735元，以及Kheng Leong的每平方英尺楼面面积新元710元。 最低出价由森联集团提交，为新元7,172万元，即每平方英尺楼面面积新元361元，使最高与最低出价之间的价差达到128.5%。 近期措施 Yip将出价区间较大部分归因于近期政策变化将如何影响新执行共管公寓需求的不确定性。 另请阅读：马来西亚发展商Eco World在招标首秀中，以每平方英尺楼面面积新元1,612元的出价，在Lorong Puntong政府售地计划地块的七份投标中居首 5月8日公布的措施包括：将新执行共管公寓的最低居住年限从五年延长至十年、取消延期付款计划（Deferred Payment Scheme），以及提高首次购屋家庭的分配优先权。 根据修订后的执行共管公寓框架，首次购屋家庭的分配比例将从70%提高至90%，优先期将从一个月延长至两年。“这意味着，在此期间，第二次购屋家庭通常仅占初始分配的10%。”SRI研究与数据分析主管Mohan Sandrasegeran指出。 执行共管公寓买家的家庭月收入上限随后于8月提高至新元18,000元。合登的Yip补充说，一些发展商可能将此举视为扩大了符合资格的买家群体。 尽管规则收紧，此次招标获得的投标数仍超过分析师普遍预期的两倍。 投标者中既有近年来在执行共管公寓市场较少活跃的发展商，也有成熟的执行共管公寓业者。例如，Master Contract Services曾于2013年中标后，与强鸿（Keong Hong）共同开发榜鹅的The Amore执行共管公寓。 坎贝拉通道招标还吸引了Chan Rong Fen Building Construction与BS Capital Group合资企业的一份投标，该联合体似乎是首次涉足执行共管公寓土地招标。 Sandrasegeran表示，坎贝拉通道执行共管公寓地块规模相对较小，可能让发展商在评估修订后执行共管公寓框架的影响时更有信心。 另请阅读：Lorong Puntong／新民大道（Sin Ming Ave）及Kitchener Link推出规模较小的住宅政府售地计划地块 八年来最多投标 这13份投标是2018年以来执行共管公寓地块收到的最多投标。当年，榜鹅Sumang Walk地块吸引了创纪录的17份出价。再早两年，后来开发为Rivercove Residences的Anchorvale Lane地块吸引了16份投标。 面积291,235平方英尺的Sumang Walk地块，以新元5.0937亿元（即每平方英尺楼面面积新元583元）判予城市发展有限公司（CDL）与TID的合资企业——TID是丰隆控股（Hong Leong Holdings）与三井不动产（Mitsui Fudosan）的合资企业。 该地块随后开发为拥有820个单位的Piermont Grand，于2019年7月开盘，平均价格约为每平方英尺新元1,080元，成为首个开盘价突破每平方英尺新元1,000元的执行共管公寓。该项目于2023年竣工。 尽管政府试图为该细分市场的需求降温，最新招标仍显示发展商对执行共管公寓地块的兴趣持续。 坎贝拉—三巴旺地区的第六幅执行共管公寓地块 坎贝拉通道地块于5月26日推出招标。占地124,167平方英尺，可建约185个住宅单位，属于规模相对较小的执行共管公寓项目。 坎贝拉—三巴旺地区此前推出的执行共管公寓地块位于三巴旺路（Sembawang Road）。该地块可建约265个单位，招标于2025年截止时吸引了四份投标，并于当年9月以新元1.978亿元（即每平方英尺楼面面积新元692元）判予Oriental Pacific Development。 坎贝拉通道地块是坎贝拉地区推出的第六幅执行共管公寓地块。邻里内已竣工的执行共管公寓项目包括：2015年7月开盘、共638个单位的The Brownstone；2016年4月开盘、共632个单位的The Visionaire；2020年2月开盘、共496个单位的Parc Canberra；以及2021年5月开盘、共413个单位的Provence Residence。2025年判出的三巴旺路地块为第五幅。 该地块距离坎贝拉地铁站（Canberra MRT Station）步行约五分钟。1公里范围内的学校包括三巴旺小学（Sembawang Primary School）和威灵顿小学（Wellington Primary School）。 按最高投标地价每平方英尺楼面面积新元825元计算，博纳（PropNex）研究与内容主管Wong Siew Ying预计，新执行共管公寓项目的平均售价可能在每平方英尺新元1,900元左右。 Admiralty Walk另一幅执行共管公寓地块的招标将于12月17日截止，并将提供“市场在新措施下如何为执行共管公寓土地定价的第二次解读”。Wong指出，该地块很可能可建约450个单位，且距离地铁站更远。 [object Object] “这次的踊跃参与，并不意味着未来的执行共管公寓招标就会把谨慎抛诸脑后。”ERA新加坡关键执行人员Eugene Lim表示。发展商会否参与，仍可能取决于即将推出的供应、地块自身属性，以及新的执行共管公寓规定。 例如，在北部，Wynwood Grand——连同三巴旺路、兀兰通道17、Miltonia Close以及坎贝拉通道本身即将推出的项目——可能为执行共管公寓供应管道增加约1,860个单位。“因此，发展商在竞投Admiralty Walk执行共管公寓地块之前，很可能会把这波供应牢记在心。”Lim表示。 “利率上升以及国内就业市场转弱，同样可能抑制购房情绪，这或将促使发展商在即将到来的招标中更加克制。”