The Housing & Development Board has closed the land tenders for two Executive Condominium (EC) sites at Senja Close and Woodlands Drive 17, which were launched under the Confirmed List of the 1H2025 Government Land Sales (GLS) programme. The Senja Close site can yield about 295 residential units, while the Woodlands Drive 17 site can yield around 420 residential units.

Both sites saw healthy interest despite having the tender closing on the same day. ECs remain a popular housing option for eligible HDB upgraders in light of their affordability, and the larger-than-usual supply of ECs in the entire 2025 has not dampened participation in GLS tenders. Recent new EC launches have sold well, bolstering confidence in the EC market on the whole.

Senja Close

There were five bids received for this plot, which was slightly above our expectations. The highest bid was from CDL Constellation Pte. Ltd. at a bid price of S$252,899,000 or around S$771 psf ppr. The highest bid price exceeded our initial expectations, and is around 6.3 per cent higher than the next highest bid from TID Residential Pte. Ltd., which may indicate some confidence in this site.

           
The attractiveness of this site may have come from the 1km proximity to various schools including Greenridge Primary School, West Spring Primary School, West View Primary School, West Spring Secondary School, and Zhenghua Secondary School. Daily needs may also be met nearby as the project is just a short walk away from Senja Hawker Centre and Greenridge Shopping Centre. Jelapang LRT station will connect future residents here to the wider transport network, and is two stops away from Bukit Panjang MRT station on the Downtown Line. These may make the future project here attractive to HDB upgraders.

           
With almost 9,000 4-room and 5-room flats having met their Minimum Occupation Period in the nearby HDB towns of Bukit Panjang and Choa Chu Kang from 2019 to 2021, there may be healthy demand base of potential upgraders for this project, supported by the growth of HDB resale prices. Moreover, there has not been an EC site launched for sale in Bukit Panjang since Blossom Residences in 2011, which may contribute to pent-up demand for an EC here. This may have resulted in keen interest in the tender exercise.

Woodlands Drive 17

There were five bids received for this plot, which was within our expectations. The highest bid was from CDL Divine Pte. Ltd. at a bid price of S$360,899,000 or around S$782 psf ppr. The highest bid price exceeded our initial expectations, and is around 0.2 per cent higher than the next highest bid from Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd. The land rate submitted for this site is the new highest recorded EC land rate, above the previous record of S$768 psf ppr submitted for the EC site at Tampines Street 95.

We anticipate strong demand for the future project here, given the unique attributes of the site. The EC site is well located, within 1km of primary schools such as Innova Primary School, Woodgrove Primary School and Si Ling Primary School. It is also near Secondary Schools like Christ Church Secondary School, and Woodgrove Secondary School. Hence, it may be popular with families.

The site is also within walking distance of the Woodlands South MRT Station which is on the Thomson-East Coast Line (TEL). The future development of the Woodlands Regional Centre into the largest economic hub in Singapore’s North Region would also make the future project enticing for those working or planning to work there. Commuters can also travel to Orchard via the TEL and the ride is slightly over half an hour. Therefore, residents will find the site accessible and well-connected to many parts of the island. As the site is near the upcoming Johor Bahru-Singapore Rapid Transit System (RTS) via the TEL, there may be keen demand for the project in the future from foreigners after the EC is privatised.

Home supply in the area for both ECs and private homes have remain relatively scarce. The previous time an EC land parcel was awarded in Woodlands was in 2015, which is now the EC Northwave. However, a short distance away from this current site was a private condominium plot at Champions Way, which was awarded in September 2023. It is now the project Norwood Grand, which saw healthy take-up during its launch weekend. With a long time since the last EC was launched in the area, there may be pent-up demand from HDB upgraders here. Another EC site, just located a stone’s throw away from this current site, will be released for sale in October 2025, but we expect both developer interest and homebuyer demand to remain strong for both these projects.