\n<\/p>\n
PropNex\u2019s head of research and content Wong Siew Ying said it appeared that the new EC measures did not deter developers.<\/p>\n
\u201cThe number of bids and top bid price for the Canberra Drive EC plot have far exceeded our expectations,\u201d she added.<\/p>\n
\u201cWe think it is possible that the tender drew livelier participation because the new EC measures were expected to make bidding more cautious, giving developers reason to take part on the chance that a more moderate bid might succeed.\u201d<\/p>\n
If the site is awarded to the top bidders, Ms Wong said it is projecting that the average selling price of this EC project may be around S$1,900 psf.<\/p>\n
The top few bids were clustered tightly. The second highest bid was S$803 psf ppr from Intrepid Investments and TID Residential, and the third was S$798 psf ppr from an Apex Asia-led consortium.<\/p>\n
When the tender was launched, PropNex had expected a top bid of around S$620 psf ppr to S$660 psf ppr.<\/p>\n
ERA Singapore\u2019s key executive officer Eugene Lim said the broad field of 13 bidders showed that developers\u2019 enthusiasm for EC land \u201cremains unabated\u201d, as they navigate through \u201cunchartered territory\u201d with the new EC rules and greater first-timer eligibility.<\/p>\n
\u201cDespite the strong turnout, the sizeable spread of 128.5 per cent between the highest and lowest bids is revealing of vastly differing outlooks for future EC reception,\u201d he added.<\/p>\n
\u201cWhile optimistic bidders likely saw upside in an expanded pool of eligible first-timers, more conservative players could have factored in greater price sensitivity from this buyer group, especially without the cushion of the Deferred Payment Scheme.\u201d<\/p>\n<\/div>\n
\n
WIDE RANGE OF BIDS PropNex\u2019s head of research and content Wong Siew Ying said it appeared that the new EC measures did not deter developers….<\/p>\n","protected":false},"author":1,"featured_media":89462,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s---THWz5z---\/c_fill,g_auto,h_676,w_1200\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2026\/05\/26\/image_2.png?itok=JuF-Auhd","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[562,4683,5424,30925,208,9074],"class_list":["post-89461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-bid","tag-developers","tag-draws","tag-recordhigh","tag-rules","tag-tender","wpcat-2-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/89461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=89461"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/89461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/89462"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}