{
  "id": 11187744,
  "title": "Canberra Drive EC site draws crowd of 13 bids; top bid from Santarli-led joint venture sets record",
  "url": "https://urgent.news/2026/10/01/canberra-drive-ec-site-draws-crowd-of-13-bids-top-bid-from-santarli",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-01T12:15:00.000Z",
  "source": {
    "name": "Straits Times",
    "slug": "straits-times",
    "url": "https://www.straitstimes.com/singapore/canberra-drive-ec-site-draws-crowd-of-13-bids-top-bid-from-santarli-led-joint-venture-sets-record"
  },
  "original_language": "en",
  "account": "A consortium led by Santarli Realty, Heeton Holdings and Kay Lim has set a new record for executive condominium (EC) land prices, winning a bid for a small Canberra Drive site in a state tender that closed on October 1. The bid of $163.9 million, or $825 per square foot per plot ratio (psf ppr), is significantly higher than the previously forecasted range of $630 to $750 psf ppr. This bid is approximately 3.9% above the previous high of $794 psf ppr and 19.2% above the $692 psf ppr paid for the last EC site sold in Sembawang in 2025.\n\nThe Canberra Drive site, located in Sembawang, spans 11,535 square meters with a gross floor area of 18,457 square meters. The 99-year leasehold site is expected to yield around 185 homes. Thirteen bids were submitted for the site, far exceeding the analysts' expectations of three to six bids. Other major bidders included Intrepid Investments and TID Residential, with a bid of $159.4 million, and Apex Asia, BHCC Development, and HSB Developments, with a bid of $158.6 million.",
  "summary": "The top offer exceeds analysts’ forecasts for first EC land tender since new rules kicked in.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}