How significant is the opening of Singapore’s second Executive Condominium site at Woodlands Drive 17 for the northern residential property market?
The launch under the 2H2025 Government Land Sales Programme represents a critical supply injection in an area that has not seen new EC sites in nearly a decade, with the most recent developments being Northwave in 2015 and Bellewoods in 2013.
The 99-year leasehold site, spanning 26,979.9 square metres, is expected to yield approximately 560 residential units, with tender closing scheduled for 13 January 2026.
Market fundamentals suggest robust developer interest, with industry forecasts from PropNex, Huttons, and Realion projecting three to six bidders competing for the site.
Industry analysts anticipate strong competition with three to six developers expected to bid for the Woodlands Executive Condominium site.
This anticipated participation follows the adjacent EC site tender in August 2025, which established a benchmark record bid of $782 psf ppr for 420 units, drawing five competitive offers.
Analysts expect bidding for the current site to range between $700 and $800 psf ppr, with CDL emerging as a likely contender after securing both the adjacent Woodlands Drive 17 site and the Senja Close plot earlier in 2025. CDL’s aggressive bidding strategy was also evident in their recent Lakeside Drive acquisition where they outbid competitors by $57 million with a $1,132 psf ppr offer.
The site’s strategic location offers compelling connectivity advantages, positioned within walking distance of Woodlands South MRT station on the Thomson-East Coast Line, providing direct access to Orchard and the Central Business District.
Moreover, the location sits one stop from Woodlands Regional Centre and two stops from the future Rapid Transit System Link to Johor Bahru, operational in 2027, while nearby amenities include Woodlands Health Campus and several educational institutions.
Within a 1-kilometre radius, residents will have access to up to 3 schools, including Innova and Woodgrove Primary.
Demand indicators remain strong despite affordability constraints, with a substantial upgrader base of 6,500 HDB flats completed between 2016 and 2018 in the vicinity.
New EC prices reached $1,700-plus psf in 2025, representing a 14% increase from 2024 and effectively doubling since 2015.
However, government-imposed restrictions, including the 30% Mortgage Servicing Ratio and $16,000 household income ceiling, will necessitate pricing discipline from developers steering through pent-up demand against affordability thresholds in this transforming northern corridor. With limited supply currently available from Otto Place and the recent sell-out of North Gaia, the region faces a supply-demand imbalance that may intensify competition for the new site.
