The Urban Redevelopment Authority and Housing & Development Board has just launched the tender for an executive condominium (EC) site at Canberra Drive. The site can yield about 185 residential units.

This site is well-located and enjoys convenient access to amenities nearby, such as the Canberra MRT Station, Bukit Canberra, Sembawang Shopping Centre, and Canberra Plaza, which will serve the daily needs of residents here. Numerous schools are also located near the site, bringing added convenience to families with school-going children.

The last EC site sold in the area was the site Sembawang Road, which was awarded in September 2025 at a land rate of S$692 psf ppr. There were four bids submitted for that site, which can yield around 265 units. 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. With some time since the last EC was launched in the area, there may be pent-up demand for EC units in Sembawang too.

However, the recent EC cooling measures announced on 8 May 2026 may moderate interest in the site. With the removal of the Deferred Payment Scheme, a longer MOP period, and increased quota for first-timers, developers may relook their bidding strategies to ensure that buying interest remains strong amidst affordability concerns. This will be the first site to be released under the new policies, and developers may also wait to assess the impact of these measures.

We expect three to four bidders for this site, at a highest bid price of S$600 to S$700 psf ppr.