Canberra Drive EC site draws crowd of 13 bids; top bid from Santarli-led joint venture sets record

The site spanning 11,535 sq m, with a gross floor area of 18,457 sq m, can yield about 185 residential units. The 99-year leasehold site is expected to yield some 185 homes.

ST PHOTO: MARK CHEONG

Published Oct 01, 2026, 08:15 PM

Updated Oct 01, 2026, 08:15 PM

SINGAPORE – A consortium led by Santarli Realty, Heeton Holdings and Kay Lim has set a fresh benchmark for executive condominium (EC) land prices, with its bid for a small Canberra Drive site beating out 12 other bidders in a state tender that closed on Oct 1.

At $163.9 million, the bid translates to $825 per square foot per plot ratio (psf ppr), surpassing the $630 to $750 psf ppr forecast by analysts.

The bid is about 3.9 per cent above the previous high of $794 psf ppr set by Sim Lian’s winning offer for a Woodlands EC project in January. It is also about 19.2 per cent above the $692 psf ppr that JBE-owned Oriental Pacific Development paid for the last EC site sold in Sembawang in 2025.

At Thursday’s tender closing, a consortium comprising Intrepid Investments and TID Residential came in second with its bid of $159.4 million or about $803 psf ppr – just a shade below the top bid.

A consortium comprising Apex Asia, BHCC Development and HSB Developments was the third-highest bidder with $158.6 million or $798 psf ppr.

Also bidding was CRF Land with $770 psf ppr. An entity linked to City Developments Ltd offered $735 psf ppr for the site.

The lowest bid, from Sim Lian, came in at about $361 psf ppr.

Thirteen bids were submitted in total – far exceeding the three to six expected by analysts polled. Other bidders included EL Development and JBE Capital.

Located in Sembawang, the Canberra Drive site is 11,535 sq m in size, with a gross floor area of 18,457 sq m. The 99-year leasehold site is expected to yield some 185 homes.

Ahead of the tender close, analysts had expected developers to be cautious about pricing, as demand is yet to be tested under the new EC rules.

In May, the minimum occupation period for ECs was extended to 10 years, the deferred payment scheme was removed, and the proportion of units reserved for first-time buyers in the first two years of launch was raised to 90 per cent.

The Government later raised the monthly household income ceiling for ECs from $16,000 to $18,000.

Analysts had reckoned that the higher income ceiling could broaden the buyer pool, but said the longer occupation period and earlier mortgage repayments could dampen demand. The expanded first-timer reservation could also constrain pricing. THE BUSINESS TIMES

该地块占地11,535平方米，总建筑面积18,457平方米，可建造约185套住宅单元。这块99年租赁地块预计将建成约185套住宅。

《海峡时报》照片：张马克

发布于 2026 年 10 月 1 日晚上 8:15

更新于2026年10月1日晚上8:15

新加坡——由 Santarli Realty、Heeton Holdings 和 Kay Lim 牵头的财团为执行共管公寓 (EC) 土地价格设定了新的基准，其对堪培拉大道一处小型地块的竞标在 10 月 1 日结束的州政府招标中击败了其他 12 个竞标者。

该报价为 1.639 亿美元，相当于每平方英尺容积率 825 美元，超过了分析师预测的每平方英尺容积率 630 至 750 美元。

此次出价较此前由Sim Lian在今年1月竞得兀兰EC项目时创下的每平方英尺794新元的最高纪录高出约3.9%。同时，也比JBE旗下的东方太平洋发展公司在2025年为三巴旺售出的最后一个EC地块支付的每平方英尺692新元的价格高出约19.2%。

在周四的投标截止日，由 Intrepid Investments 和 TID Residential 组成的财团以 1.594 亿美元（约合每平方英尺 803 美元）的报价位列第二，仅比最高报价略低。

由 Apex Asia、BHCC Development 和 HSB Developments 组成的财团以 1.586 亿美元（每平方英尺 798 美元）的报价位列第三。

CRF Land也参与了竞标，出价为每平方英尺770美元。一家与城市发展有限公司有关联的实体则出价每平方英尺735美元。

Sim Lian 的最低报价约为每平方英尺 361 美元。

总共收到13份投标书，远超分析师此前预测的3到6份。其他投标者包括EL Development和JBE Capital。

位于三巴旺的堪培拉大道地块面积为 11,535 平方米，总建筑面积为 18,457 平方米。该地块为 99 年租赁地契，预计将建成约 185 套住宅。

在招标截止前，分析师们预计开发商会在定价方面保持谨慎，因为在新欧盟规则下，市场需求尚未得到检验。

5 月，执行共管公寓的最低居住年限延长至 10 年，延期付款计划被取消，首两年内预留给首次购房者的单位比例提高至 90%。

政府后来将执行共管公寓的每月家庭收入上限从 16,000 美元提高到 18,000 美元。

分析师认为，提高收入上限可能会扩大购房者群体，但延长居住期限和提前偿还抵押贷款可能会抑制需求。扩大首次购房者预留名额也可能限制房价。《商业时报》