Second Woodlands Drive 17 Gls Site Launched Tender
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An executive condominium (EC) site in Woodlands Drive 17 has been put up for sale in the latest Government Land Sales (GLS) programme. With an estimated size of 290,412 sq ft, the site is expected to yield around 560 EC units. This new launch comes after the sale of another EC site in Woodlands Drive 17 on August 5, according to Wong Siew Ying, head of research and content at PropNex Realty. The first site received five bids, with City Developments (CDL) submitting the top bid of $360.9 million, setting a new record price per sq ft for an EC site.
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Wong believes that the high land price achieved for the first Woodlands Drive 17 EC site could serve as a benchmark for the second plot. However, she also warns that developers should be cautious in their bidding, as an excessively high land bid price could have an impact on the future selling price and affordability of the EC units.
Given the site’s close proximity to Woodlands South MRT Station, Eugene Lim, key executive officer at ERA Singapore, expects it to attract strong interest from developers. The station is just one stop away from Woodlands Regional Centre and two stops from the Johor-Singapore SEZ and the upcoming RTS Link. These developments are expected to be completed by 2026. Lim also adds that the new EC development is likely to attract families with children, as it is within 1km of several schools, including Innova Primary School and Woodlands Ring Primary School.
In addition to its location, PropNex Realty’s Wong believes that the Woodlands Drive 17 EC site will garner strong interest due to the high pent-up demand for EC units in the area. The last EC plot awarded in the Woodlands planning area was in 2015, which was later developed into the 358-unit Northwave by Hao Yuan Investment. Before that, the 561-unit Bellewoods was launched in December 2014.
Lim predicts that the demand for the new EC development will come from HDB upgraders in Woodlands and nearby northern towns such as Sembawang and Yishun. Over 1,800 four- and five-room flats in Woodlands will reach their MOP between 2026 and 2029, which could further boost the number of potential upgrades in the EC market.
Wong expects four to six bids for the latest Woodlands Drive 17 EC site, with the top bid coming in at around $770 to $780 psf ppr. Huttons’ Yip predicts a similar number of bidders, with the highest bid price ranging from $700 to $800 psf ppr. He also adds that the bid prices for EC sites have been relatively stable, and he expects the second site to hover around the same price.
The tender for the Woodlands Drive 17 site will close on January 13, 2026.