Healthy interest expected for Canberra Link EC site

Ms. Tay Huey Ying, Head of Research and Consultancy, Singapore 郑惠匀, 研究与咨询部主管 (新加坡)

May 16, 2019

The Housing & Development Board (HDB) launched an Executive Condominium (EC) site at Canberra Link for sale by public tender today, under the Confirmed List of the First Half 2019 Government Land Sales (GLS) Programme. The tender for this site will close on 3 July 2019, similar to that for a private residential site at Clementi Avenue 1 launched by the Urban Redevelopment Authority in February 2019.

While we expect healthy interest for the Canberra Link EC site launched for tender today, we are ruling out a repeat of the high double-digit bidding volume seen for the Sumang Walk site in February 2018.

Although the stock of launched but unsold EC units continue to fall to record lows, the launch pipeline of EC units is slowly being replenished with four EC sites sold between March 2018 and January 2019. This, coupled with cooling prices in the private home market following the additional market cooling measures has taken some heat off the EC land market. Biddings at EC sites following the Sumang Walk tender saw seven to nine bidders.

Moreover, this is the second EC site launched by HDB along Canberra Link in less than a year. The previous Canberra Link EC site, which is located just next to the current site, was launched in June 2018. That site was awarded to a joint venture between Hoi Hup Realty and Sunway Developments in September 2018. They offered the highest price of SGD 271 million (or SGD 558 per sq ft per plot ratio) out of nine bidders.

Healthy demand for the current Canberra Link EC site will be underpinned by its fairly attractive location sandwiched between two MRT stations, namely the existing Sembawang MRT station and the Canberra MRT station, which is slated to open by the end of 2019. Across the road is the upcoming Bukit Canberra, a 12-hectare integrated sport and community hub comprising a polyclinic, a senior care centre, a sports centre and a hawker centre in a park-like environment. The project is being developed by Sport Singapore (SportSG) and is expected to complete in 1H 2020.

Executive Condominium Government Land Sales Sites Awarded Since March 2018

Project Name

Street Name


Estimated No. of Units

Piermont Grand

Sumang Walk

City Developments



Canberra Link

Hoi Hup Realty & Sunway Developments



Anchorvale Crescent

Evia Real Estate & Gamuda



Tampines Avenue 10

Hoi Hup Realty & Sunway Developments


Source : JLL Research/HDB/URA

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