Commentary on the Closing of the Tender for the EC Land Parcel at Woodlands Drive 17

SINGAPORE, 13 January 2026 - "The tight margin of just 0.4% between Sim Lian, the top bidder for the site and the consortium comprising CNQC Realty, Forsea Residence and Jianan Realty signals developers’ confidence in the site. This comes amid robust take-up of ECs this year, including Aurelle at Tampines and Otto Place, underscoring sustained buyer interest and resilient demand in the segment. As such, we could see similarly strong interest among homebuyers for future ECs.”

“This GLS exercise drew the highest bid ever recorded for an EC site, with the top bid at $794 psf ppr, surpassing the previous high of $782 psf ppr for the nearby Woodlands Drive 17 EC site which was awarded in August 2025. The narrow price gap between the top two bids signals strong developer confidence in Woodlands’ long-term growth, anchored by its transformation into a regional hub. The area is poised to benefit from enhanced transport connectivity, including the future RTS Link to Johor Bahru, as well as the continued rollout of new amenities.” Eugene Lim, Key Executive Officer, ERA Singapore said. 

“A mid-sized EC development of up to 560 units offers an attractive entry into the EC market for developers. With a palatable size and a price quantum of less than $500 million, it presents developers with a more measured level of risks.” 

“This marks the first time that we have seen just three bidders since the Anchorvale Crescent site was sold in 2015, which is now Treasure Crest. ECs have traditionally been popular among developers due to their relatively smaller capital outlay and consistently strong demand, as they remain one of the more affordable housing options for buyers. has seen evergreen demand from buyers, being an affordable housing type. However, the more measured response is understandable considering that there is strong competition for EC buyers, in view of the growing EC supply pipeline in the North Region.”

“The site also offers key attributes that appeal to homebuyers, particularly its proximity to a nearby MRT station. Additionally, the area holds strong growth potential, supported by the ongoing North Coast Innovation Corridor and Woodlands Regional Centre development. These factors are to have strengthened developer interest, as they seek to meet the evolving needs of the growing town.”

“Factoring in the 15-month wait-out period, the project is expected to be launched in early to mid-2027. This could bring the total number of EC launches in the North to as many as three in 2027, collectively adding about 1,245 units to the market. More broadly, the North is poised to see a flurry of EC launches between end-2026 to 2028. To date, two EC sites in Woodlands and one in Sembawang have been made available, while the tender for the Miltonia Close (Yishun) site is set to close in April 2026. Moreover, the 1H 2026 GLS Confirmed List features two more EC sites in the North, located at Canberra Drive and Sembawang Drive.”

Buyer Demand

“EC remains to be a compelling option for buyers who meet the income ceiling of $16,000, being a more affordable option than private homes.

Demand for this future EC development is expected to be driven primarily by HDB upgraders in Woodlands. Between 2022-2026 alone, a total of 1,411 four-room and larger flats in the area will reach their Minimum Occupation Period (MOP). As such, a sizeable proportion of these HDB upgraders are likely to factor the upcoming development into their upgrading plans.

With strong competition expected from a similar pool of buyers, and many of these projects sharing comparable location attributes, developers will need to differentiate their offerings and carve out a clear niche to stand out and attract buyers.” 

Outlook

“Singapore’s residential market is entering a renewed phase of optimism, underpinned by the exceptional sales performance of 2025’s launches. We expect more developers to proactively replenish their land banks, positioning themselves well to capture the next wave of buyer demand.

Currently, there are another six private and two EC sites open for tender. 1H 2026 will see a further seven private and two EC sites available for developers. The unsuccessful bidders this round may pivot to other opportunities for EC sites at Miltonia Close, or the upcoming sites at Canberra Drive and Sembawang Drive." 

For media enquiries, please contact:

Lisha Rodney

Public Relations Manager, ERA Singapore

Email: Lisha.Rodney@era.com.sg

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