The Housing & Development Board (HDB) launched a public tender for an executive condominium (EC) site at Admiralty Walk on June 30.
The 99-year leasehold EC site, which can potentially yield about 460 units, is among nine sites on the Confirmed List of the 1H2026 government land sales (GLS) programme, says the Urban Redevelopment Authority (URA).
The tender will close on Dec 17.
Developers’ interest to be tested
Located in the Sembawang planning area, the 12,892 sqm site will be subject to changes to EC sales introduced in May, such as the removal of the Deferred Payment Scheme (DPS).
Aside from the Admiralty Walk EC site, other EC sites also subject to the new rules are situated at Canberra Drive and Jurong East Ave 1. The latter is on the 2H2026 Confirmed List and is expected to be launched in December.
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Eugene Lim, key executive officer at ERA Singapore, says developers will “likely be guided by the bidding response to the earlier Canberra Drive site”, which was launched on May 26 and marked the first EC GLS site released after the government tightened EC purchase rules on May 8.
“Given a possible overlap in buyers, both plots [are expected to] draw from the same pool of EC first-time [buyers] and HDB upgraders living nearby,” adds Lim.
As a result, developers’ interest is likely to be “more measured as compared to the Canberra [Drive] site”, owing to the relative lack of nearby amenities around the Admiralty Walk EC site, says Lim.
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Developers may also factor in the upcoming Jurong East Ave 1 EC site under the 2H2026 GLS programme, says Mohan Sandrasegeran, head of research and data analytics at Singapore Realtors Inc (SRI). “The site marks the return of EC housing to Jurong East after almost three decades, with the last EC project in the area, Westmere, launched in 1996.”
Still, the [Admiralty Walk] site is not without merits, says Wong Siew Ying, head of research and content at PropNex. “A key highlight is its proximity to several schools, including the adjacent Northoaks Primary School. Other primary schools within 1km from the plot are Endeavour Primary School and Canberra Primary School.”
Wong also notes that a nearby plot at Admiralty Lane has also been zoned “Commercial and Residential” under URA’s Master Plan 2025, which could provide more amenities to future residents when it is developed. In the longer term, the redevelopment of the Sembawang Shipyard into a mixed-use waterfront precinct may also help enliven the neighbourhood, she adds.
Meanwhile, the lower EC supply y-o-y may “help buoy interest”, adds ERA’s Lim. An estimated 1,370 units across three EC sites are expected to be launched this year, compared to 1,970 units across five EC sites in 2025.
“The tighter pipeline could keep competition alive as developers with an appetite for EC plots will have fewer tender opportunities,” adds Lim.
Buyers’ demand
On potential buyers’ demand for this site, Lim notes that the slew of upcoming EC launches in the North could dilute demand.
Upcoming EC launches in the North this year include the Woodlands Drive 17 and the Sembawang Road sites, which can potentially yield 420 and 265 units, respectively, and are slated for preview in 4Q2026, according to ERA.
“GLS sites at Woodlands Drive 17, Miltonia Close, Canberra Drive and Admiralty Walk could add another 1,625 units to the North’s EC pipeline. Incoming supply of this volume could dilute buyer demand across upcoming launches in the North,” says Lim.
Huttons Asia CEO Mark Yip points to weaker-than-expected demand in the surrounding area, noting that application rates for the four recent Build-to-Order (BTO) projects in the Sembawang North precinct have been relatively muted. This suggests “buyers’ interest in the upcoming precinct is lukewarm”, he adds.
Yip says the revised EC policy, which reserves 90% of units for first-time buyers and extends their priority booking period from one month to two years, could also slow the pace of sales for future projects.
“As a result, developers are likely to be more selective about the tenders they participate in,” he says, forecasting that the site could attract up to three bidders, with the top bid ranging between $530 and $630 psf per plot ratio (ppr).
Table: ERA Singapore
Read about this year's GLS tenders:
URA launches Lorong Puntong GLS site, first Thomson‑Bishan plot in a decade (June)
Sunway MCL, CSC Land JV tops four bids for River Valley Green (Parcel C) GLS site at $1,730 psf ppr (June)
URA launches Berlayar Drive and New Upper Changi Road GLS sites (May)
Holland Plain GLS site in D10 draws sole bid from Sim Lian (May)
Dunearn Road GLS site draws six bids; Wing Tai-Metro consortium on top with $1,625 psf ppr bid (April)
River Valley Green (Parcel C) GLS site in popular Great World area could ‘pique developer interest’ (April)
Peck Hay Road GLS site in Newton could draw up to eight bids: analysts (April)
Frasers Property-Mitsubishi Estate JV tops four bids for Kallang Close GLS site at $1,415 psf ppr (April)
Large 5.74ha Bayshore Drive mixed-use GLS site could draw $2 bil top bid: analysts (March)
Qingjian Realty, joint venture partners top Dover Drive GLS bid with $1,556 psf ppr (March)
URA launches GLS site at Holland Plain, with up to six bidders expected (February)
CDL-Woh Hup JV places top bid for Tanjong Rhu GLS site, beating out four others (February)
