What was the Canberra Drive EC tender result?
The tender closed at 12 noon on 1 October 2026 with 13 bids. As reported by The Business Times, the highest was S$163.9 million, or S$825 per square foot per plot ratio (psf ppr), from a consortium led by Santarli Realty with Heeton Holdings and Kay Lim. HDB has not yet announced the award. This is the price of the land, not of a home.
Source of the bid figures: The Business Times, published 1 October 2026. Gaps, percentages and comparisons below are our arithmetic from those figures. Sections headed "our reading" are inference, not reported fact. Last checked 1 October 2026.
Every bid reported so far
| Bidder | Bid | psf ppr | Below top bid |
|---|---|---|---|
| 1. Santarli Realty, Heeton Holdings and Kay Lim | S$163.9 million | S$825 | Highest bid |
| 2. Intrepid Investments and TID Residential | S$159.4 million | about S$803 | S$4.5 million (2.7%) |
| 3. Apex Asia, BHCC Development and HSB Developments | S$158.6 million | about S$798 | S$5.3 million (3.3%) |
| 4. CRF Land | Not reported | S$770 | S$55 psf ppr (6.7%) |
| 5. Entity linked to City Developments Ltd | Not reported | S$735 | S$90 psf ppr (10.9%) |
| Sim Lian | Not reported | about S$361 (reported as the lowest) | Treated as an outlier below |
| EL Development | Not reported | Not reported | Not reported |
| JBE Capital | Not reported | Not reported | Not reported |
Eight of the 13 bids have been named in published reporting, two of them (EL Development and JBE Capital) without amounts. The other five have not been itemised. This page will carry the full table when HDB publishes it. Until then, nothing here guesses at who the remaining bidders are.
How tight was the bidding?
| Comparison | Difference |
|---|---|
| Top bid vs second bid | S$4.5 million, S$22 psf ppr, 2.7% |
| Top bid vs third bid | S$5.3 million, S$27 psf ppr, 3.3% |
| Top bid vs fourth bid (CRF Land) | S$55 psf ppr, 6.7% |
| Top bid vs fifth bid (City Developments-linked) | S$90 psf ppr, 10.9% |
| Top bid vs analysts' range of S$630 to S$750 | S$75 psf ppr above the upper end, 10% |
| Top bid vs previous EC record (Woodlands, January 2026, S$794) | S$31 psf ppr higher, 3.9% |
| Top bid vs last Sembawang EC site (2025, S$692) | S$133 psf ppr higher, 19.2% |
The top three bids sit within S$27 psf ppr of each other, a 3.3% band. The winning consortium cleared the runner-up by S$4.5 million on a S$163.9 million bid. After the third bid the field drops away: the fourth is 6.7% lower and the fifth 10.9% lower.
One reported figure does not fit. Sim Lian is described as holding the previous record of S$794 psf ppr for its Woodlands EC bid in January 2026, and also as the lowest bidder here at about S$361 psf ppr. A bid that far below the field may be a reporting error or a deliberate placeholder bid. We have left it out of the spread calculations above, and will correct this page when HDB's figures are out.
Our reading: what 13 bids suggests
Everything in this section is inference from the figures above. It is not reported fact.
- Developer appetite survived the tougher rules. Analysts expected three to six bids. The site was bid for 13 times despite the 10-year minimum occupation period, the end of the Deferred Payment Scheme and the 90% first-timer quota. The last Sembawang EC site, awarded in 2025, drew four bids.
- The small size probably widened the field. About 185 homes means a smaller cheque than a typical EC site, which tends to let consortia and mid-sized developers compete. The top three bids were all consortia.
- Developers priced the site much alike at the top. Three bidders within 3.3% suggests similar cost and demand assumptions, and that the winner paid a modest premium over the next best bid.
- The land price is a record for an EC, but bids are not buyer demand. The Business Times noted that demand under the new rules is yet to be tested. Developers have bet on it; buyers have not yet answered.
What the number does not tell you
- It is not a home price. A land bid is one cost among construction, financing, marketing and margin. This page does not estimate a launch price, because any figure published before the developer's own costing would be a guess.
- It is not yet an award. HDB has not announced the award at the time of writing, so the developer is confirmed only when it does.
- It rests on one published source. The figures are from The Business Times, and we have not independently verified them against HDB's tender documents.
Where the bid sits against earlier EC sites
What happens next
- HDB evaluates the bids and announces the award.
- The developer is confirmed and begins design and approvals.
- Sales launch, with the showflat, price list, site plan and floor plans.
That typically runs several quarters from tender close to launch. Follow each step on the updates page, see what is known about cost in price and payment, and check how the rules apply to you in eligibility.
Tender questions
How many bids did the Canberra Drive EC tender receive?
13. The tender closed at 12 noon on 1 October 2026, and as reported by The Business Times, 13 bids is far more than the three to six analysts expected. The highest was S$825 psf ppr (S$163.9 million). The last Sembawang EC site, awarded in 2025, drew four bids. See the full breakdown on the tender result page.
Who bid for the Canberra Drive EC site?
As reported by The Business Times: a consortium led by Santarli Realty with Heeton Holdings and Kay Lim (highest, S$825 psf ppr); Intrepid Investments with TID Residential (about S$803); Apex Asia, BHCC Development and HSB Developments (about S$798); CRF Land (S$770); a City Developments-linked entity (S$735); and Sim Lian, EL Development and JBE Capital. Five of the 13 bids have not yet been itemised.
Who is the developer of Canberra Drive EC?
Not confirmed yet. The tender closed at 12 noon on 1 October 2026. as reported by The Business Times, the highest bid, S$825 psf ppr (S$163.9 million), came from a consortium led by Santarli Realty with Heeton Holdings and Kay Lim. HDB announces the award after evaluating the bids, and the developer is only confirmed then.
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What is the price of Canberra Drive EC?
No home prices exist yet. The top land bid was S$825 per square foot per plot ratio (S$163.9 million), as reported by The Business Times, above the S$630 to S$750 analysts had forecast. That is the price of the land, not of a home. Launch prices come from the developer, and only at launch.
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