HDB's Canberra Drive EC tender closed on 1 October 2026 with 13 bids. The top bid was reported at $163.9 million, or $825 per square foot per plot ratio, a record for an EC site and well above analysts' $600 to $700 range. The award was still provisional at the time of the reports.
What was reported
- The 99-year leasehold site in the Sembawang area (Canberra Drive, District 27) covers 11,535.4 sq m, about 124,167 sq ft.
- It is the first EC site to close since the 8 May 2026 rule changes. See the new EC rules.
- Four agencies had forecast 2 to 5 bids at $600 to $700 psf ppr, according to Tribe SG.
- The previous EC land-rate high was $794 psf ppr, bid by Sim Lian for the Woodlands Drive 17 site in January 2026.
- Plot ratio is 1.6, among the lowest for an EC site, so the site yields few homes.
- The tender closed after the 24 Aug 2026 rise in the EC household income ceiling, so buyers of this EC will face a ceiling of S$18,000 (S$16,000 for older sites).
What it means for buyers
Our reading, not a forecast: a land cost of $825 psf ppr points to a launch price well above the current EC resale average nearby. Analysts quoted by Tribe SG put the average at about $1,900 psf (PropNex) or a median of $1,850 to $1,920 psf (Nicholas Mak), which Tribe SG says would be 20% to 36% above resale ECs nearby. The new rules (10-year MOP, no DPS) did not discourage bidders, which suggests developers still expect strong demand. Whether buyers agree will only be known at launch.
Track the result on our launch tracker. Check whether you qualify with the EC eligibility calculator.
Sources to check
Frequently asked questions
How many bids did the Canberra Drive EC site get?
13 bids, according to Tribe SG and as cited by Stacked Homes. Confirm with the official HDB result.