# EC site at Admiralty Walk launched for sale

- **Source:** EdgeProp Singapore
- **Published:** 2026-06-30T04:40:29.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/ec-site-admiralty-walk-launched-sale
- **Topics:** HDB & Public Housing, Private Residential, Commercial & Industrial

## Featured rationale

Its distance from the MRT, revised EC rules and expanding northern supply may temper developer confidence, with analysts expecting up to three measured bids.

## AI summary

HDB launched the 138,782 sq ft Admiralty Walk EC site for tender, offering a 99-year lease and potential yield of about 450 homes.

## Original article

HDB has launched an executive condo (EC) site at Admiralty Walk in Sembawang for sale by public tender. The 99-year leasehold Government Land Sale (GLS) site measures 138,782 sq ft and can potentially yield about 450 residential units.

This is the second EC land parcel to be launched for tender under the new EC framework, observes Mohan Sandrasegeran, head of research and data analytics at SRI.

On May 8, the government announced new restrictions on the EC market, including extending the minimum occupation period to 10 years, removing the Deferred Payment Scheme, and increasing first-timer priority at new EC launches.

Explore comprehensive data about all ECs, including the average profit at 5 and 10 years

The first EC site tender after the announcement was a plot at Canberra Drive. The tender, which launched on May 26, will close on Oct 1. “As the first site to be offered under the revised framework, the Canberra Drive tender is expected to provide an important gauge of developers' appetite, pricing expectations and overall confidence in the EC market when it closes,” notes Sandrasegeran.

Eugene Lim, key executive officer at ERA Singapore, expects the Admiralty Walk site tender to be guided by the bidding response to the Canberra Drive site due to a possible overlap in buyers. “Both plots are located in the Sembawang planning area, and could draw from the same pool of EC first-timers and HDB upgraders living nearby,” he observes.

Still, Lim predicts offers for the Admiralty Walk site could be more measured compared to the Canberra Drive plot, given the former's location further away from an MRT station and major amenities. “With Sembawang MRT Station about 20 to 30 minutes away on foot, buyer interest could be tempered until future upgrades improve accessibility," he explains.

Lim also points out that buyer demand for the future project may be diluted due to the "sizeable pipeline" of EC launches in the North. These include upcoming projects on sites at Woodlands Drive 17 and Sembawang Road awarded last year that can yield an estimated 685 EC units. Two more EC sites sold this year — another plot at Woodlands Drive 17 and a plot at Miltonia Close — will introduce a further 990 EC units in the future.

“Given the expanding EC pipeline in the North, developers are likely to assess Admiralty Walk more selectively against other available GLS opportunities,” says Lim. ERA is estimating the site to receive up to three bids, with offers between $600 to $700 psf per plot ratio (psf ppr).

Meanwhile, Mark Yip, CEO of Huttons Asia, also expects up to three bidders for the plot, with a top bid between $530 to $630 psf ppr.

Read also: EC rules have changed — here’s what your financial plan needs to catch up on

He notes that while the Admiralty Walk site has advantages, such as its location adjacent to Northoaks Primary School, muted application rates for Build-to-Order projects launched thus far in the Sembawang North area point to “lukewarm” buyer interest in the precinct.

“This may lead to a longer time to sell out the [EC project on the Admiralty Walk site], given the new EC policy that allocates 90% of units to first-timers and lengthens the priority period for first-timers to two years,” he adds.

The tender for the Admiralty Walk site will close at noon on Dec 17.

## Chinese translation

> Translation model: grok

### 海军部径执行共管公寓（EC）地段公开招标

三巴旺这幅99年地契地段预计可建约450个住宅单位。

建屋发展局（HDB）已就三巴旺海军部径（Admiralty Walk）一幅执行共管公寓（EC）地段公开招标出售。该幅政府售地（GLS）为99年地契，面积138,782平方英尺，预计可建约450个住宅单位。

SRI研究与数据分析主管Mohan Sandrasegeran指出，这是新EC框架下第二幅公开招标的EC地段。

5月8日，政府公布对EC市场的新限制，包括将最低居住年限延长至10年、取消延期付款计划，以及提高新EC发售中首次购屋者的优先比例。

探索所有EC的综合数据，包括5年与10年平均利润

新规公布后首幅招标的EC地段位于坎贝拉道（Canberra Drive）。该招标于5月26日启动，将于10月1日截止。Sandrasegeran指出：“作为修订框架下推出的首幅地段，坎贝拉道招标结果将是衡量发展商兴趣、定价预期以及对EC市场整体信心的重要指标。”

ERA新加坡首席执行官林毓伟（Eugene Lim）预计，海军部径地段的投标将受坎贝拉道地段竞标反应引导，因两者买家群可能重叠。“两幅地段均位于三巴旺规划区，可能吸引同一批附近的EC首次购屋者与组屋升级客，”他观察到。

不过，林氏预测海军部径的出价可能比坎贝拉道更谨慎，因前者距地铁站与主要配套更远。“三巴旺地铁站步行约需20至30分钟，在未来提升可达性之前，买家兴趣可能受到抑制，”他解释道。

林氏还指出，北部EC供应管线庞大，未来项目的买家需求或被稀释。其中包括去年中标的兀兰大道17段与三巴旺路地段，预计可建约685个EC单位。今年另售出的两幅EC地段——另一幅兀兰大道17段与密尔托尼亚园（Miltonia Close）——未来将再带来约990个EC单位。

“鉴于北部EC供应管线扩大，发展商很可能更有选择性地评估海军部径，并与其他GLS机会比较，”林氏说。ERA估计该地段最多收到三份标书，出价约每平方英尺容积率600至700新元（psf ppr）。

与此同时，合登亚洲（Huttons Asia）首席执行官叶国荣（Mark Yip）亦预计最多三位竞标者，最高出价约每平方英尺容积率530至630新元。

另请阅读：EC规则已变——你的财务规划需要跟上什么

他指出，海军部径地段虽有优势，例如毗邻北橡小学（Northoaks Primary School），但三巴旺北迄今预购组屋（BTO）申请率平淡，显示该片区买家兴趣“偏冷”。

“在新EC政策将90%单位分配给首次购屋者、并将首次购屋者优先期延长至两年的背景下，这可能导致海军部径EC项目售罄时间更长，”他补充道。

海军部径地段招标将于12月17日中午截止。