Although executive condominiums rarely steal headlines, the Woodlands Drive 17 site just did, setting a new land price record and igniting a five-way tussle among heavyweight developers. City Developments Limited topped the tender at S$782 psf ppr, a new high for EC land, with a S$360.9 million bid for a plot that could yield about 420 units. The margin was razor-thin, as Sim Lian’s joint venture offered S$360.3 million, effectively neck and neck.
Woodlands Drive 17 sets EC land record as CDL edges Sim Lian by a whisker
For context, the previous EC land benchmark was S$768 psf ppr at Tampines Street 95 in 2024, so this new print nudges the bar higher, and signals stronger conviction in the segment.
The contest drew about five bids, featuring established names such as Wee Hur, EL Development, and the Hoi Hup–Sunway partnership. That breadth of interest suggests rising confidence in northern Singapore’s housing prospects, helped by limited EC supply in Woodlands and steady demand for new launches. Developers also point to market stability as a key support.
A second Woodlands Drive 17 plot, slated for the second half of 2025 and expected to produce roughly 560 units, is projected to attract three to six bidders, so the queue isn’t getting shorter. The tender closes Jan 13, 2026, giving developers time to calibrate bids against nearby supply.
The north’s appeal hinges on improving access and infrastructure. With Woodlands South MRT nearby, connectivity is already strong, and a pipeline of amenities, schools, and retail projects is adding convenience. This development trend mirrors the ongoing interest in prestigious areas like Oei Tiong Ham Park, where luxury properties continue to command premium prices in Singapore’s diverse real estate market. The project will sit within walking distance of Woodlands South MRT, strengthening everyday connectivity for residents. Repeat appearances by major developers imply strategic faith in the area’s trajectory, while active government land sales up north reflect ongoing efforts to balance housing supply across regions.
In short, momentum is shifting, gently but clearly.
Record land costs tend to ripple into launch prices, and ECs are no exception. Market watchers expect median new EC prices to cross S$1,700 psf in 2025, about 14% higher than 2024 and more than double 2015 levels.
Take-up, however, has remained resilient, with launch absorption historically ranging from 53% to 90%. Affordability may be tested, yet demand drivers remain intact.
The Woodlands Drive 17 project is targeted for a late-2026 launch after the standard cooling period. Alongside a nearby Yishun site at Miltonia Close and the second Woodlands plot, upcoming supply—about 420 and 560 units respectively—should broaden choices.
As usual for ECs, the tenure is 99 years.
