Woodlands Drive 17 (EC) – Government Land Sale (GLS) Site Analysis

This article has been updated on 13 January 2025 to reflect the tender results of the Woodlands Drive 17 (2H 2025) site.

The tender for the two Government Land Sale (GLS) sites at Woodlands Drive 17 has closed. The first   site, Woodlands Drive 17 (1H 2025) was launched in April 2025, and the tender closed on 5 August 2025. It drew interest from five bidders, with the top bid of $360.9million (or $782 psf ppr). It was submitted by CDL Divine Pte. Ltd.

The second site, Woodlands Drive 17 (2H 2025) was launched in October 2025 and the tender closed on 13 January 2025. Interest was more measured, with 3 bidders, but had a higher top bid of $484.0 million (or $794 psf ppr), put in by a Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd.

1. Site details and bids

Source: URA, ERA Research and Market Intelligence

2. Locational Attributes 

Both EC sites are located within 5 minutes’ walking distance from Woodlands South MRT on the Thomson-East Coast line, which is just one stop away from Woodlands interchange, providing a transit option to the North-South line and a bus interchange. Through the TEL, residents can reach Orchard in just under 35 minutes, and the CBD in about 45 minutes.

These sites will also be easily accessible to the Seletar Expressway (SLE), which will grant residents a direct commute to the city through the connecting Central Expressway (CTE) in around 30 minutes.

Woodlands regional centre is also undergoing transformation into a new lifestyle and commercial hub, housing a range of office spaces, retail malls, and entertainment options just one stop away. These include existing points of interest such as Causeway Point shopping centre and Woodlands Civic Centre, alongside future developments to come.

Additionally, the area holds strong growth potential, supported by the ongoing North Coast Innovation Corridor and Woodlands Regional Centre development.

3. Price and Market Trends

Between 4Q 2020 and 4Q 2025, the median price psf of ECs in Woodlands, District 25, and OCR have increased across the board.

Table 2: All Sale Prices of Executive Condominiums

Source: URA as of 5 Jan 2026, ERA Research and Market Intelligence

ECs in Woodlands have seen considerable price growth compared to the rest of the RCR. This could influence buyer demand for the future projects at Woodlands Drive 17 and possibly compel developers to bid more aggressively for the site.

4. ECs are a popular choice amongst HDB upgraders

ECs have consistently been a popular choice among HDB upgraders. This is due to their more accessible pricing compared to private condos. In 2025, new homes in the OCR saw a 42% difference in median prices between ECs ($1,592 psf) and private condos ($2,254 psf). This gap highlights the value proposition of ECs, particularly for HDB upgraders who meet the income ceiling of $16,000. Hence, buyers, particularly HDB upgraders, see value in ECs. 

Apart from commanding lower prices than new private condos in the OCR, homebuyers have the additional flexibility of not needing to dispose of their existing home, prior to purchasing an EC. This is on top of the added benefit of ABSD remission for Singaporean purchasers. 

Moreover, EC buyers may opt for the Deferred Payment Scheme (DPS), whereby they will only need to pay a deposit and defer their EC loan till after it has been completed. In this way, the buyers will not need to service two mortgages while waiting for their new home.

With no ABSD payable and the availability of the DPS, HDB owners will find it easier to upgrade to new ECs.

5. Potential Demand

Demand for this future EC development will come primarily from HDB upgraders in Woodlands, although we could see interest from upgraders coming from nearby towns in the North, such as Sembawang and Yishun.

Between 2026-2029 itself, we will see over 1,800 (4-room and larger) flats fulfil their Minimum Occupation Period in Woodlands, with a further almost 3,500 of such MOP flats in Yishun and Sembawang. This should create a healthy supply of potential upgraders for the launch of the future project.

There is a pent-up demand for new homes in Woodlands, which can be seen from the performance of Norwood Grand, located 5-minutes away from this GLS site. To date, the project has sold all of its 1-, 2-, and 3-bedroom units, selling 87% of its total stock at $2,078 psf. This shows a strong demand in the north for affordably priced private property, which should encourage developers to bid for the site.

6. New EC supply

Presently (as of 13 January 2025), all existing EC developments are fully sold. However, there are five new ECs in the pipeline, set to launch in 2026. 

However, 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. This strong competition for EC buyers, in view of the growing EC supply pipeline in the North Region.

Table 4: EC units in the pipeline

Source: URA, ERA Research and Market Intelligence *Pending award

Popularity of ECs among developers

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. The lower upfront cost also present less risk than other private sites. 

However, they will have to be cautious because of buyers’ affordability. Due to the income ceiling of $16,000, as well as the Mortgage Servicing Ratio (MSR) and Total Debt Servicing Ratio (TDSR), the maximum loan a buyer can borrow is approximately $1.01 million. Amid rising EC prices, and a cap in loan quantum, EC buyers will now have to satisfy a larger initial cash outlay.

This may potentially deter upgraders to enter the EC market, instead opting for full private condominiums. Although they come with a higher price tag, buyers may only need to put a lower downpayment. Moreover, they can take a larger loan as private properties are only subjected to only the TDSR, and not the MSR. 

Rising EC Land Cost

The continued strong demand for new ECs has resulted in developers increasingly aggressive bidding strategy. Between 2015 and 2025, the average EC land costs have risen 172%, from $287 psf ppr to $782 psf ppr. To illustrate a recent example, the Jalan Loyang Besar site in Pasir Ris, subsequently launched as Coastal Cabana, was awarded to a joint venture between Qingjian Realty, Forsea Holdings and ZACD Group at $729 psf ppr in August 2024. It is expected to launch early this year starting from approximately $1,639 psr ppr.

As such, we could see new benchmark prices for ECs. Prices will be a far cry from Northwave, the last EC sold in Woodlands which was tendered for a land cost of $566 psf ppr in 2015. 

Conclusion

Developers have shown considerable interest in these Woodlands Drive 17 EC sites, given limited competition due to the scarcity of fresh EC supply in the immediate vicinity. Woodlands South is a burgeoning estate seeing continued development with the presence of new BTO flats and Woodlands Health Hub, creating essential amenities that will help improve liveability in the area and drive future demand for the project.

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, as of 13 January 2026, 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.