Despite the investigation, police say they are not treating the death as suspicious at this stage.

The man was last seen by a friend who dropped him off at his Bruce apartment complex about 11pm on Monday.

Police said he was reported missing by friends who had visited his apartment and found him not at home about 11am on Tuesday.

After a two-hour search, police said they found the man's body in a pond near Eardley Street, Bruce.

He was wearing a black Feltics backpack with a white stripe.

ACT Policing superintendent Brett Kidner said investigators had yet to determine the circumstances surrounding the man's death, and were attempting to track his movements in the lead-up to his death.

"At this point in time the police are conducting an open inquiry in relation to this and we're seeking assistance from members of the public that may have seen or heard anything after the man was dropped off at 11pm on Monday, September 1," Superintendent Kidner said.

They have identified the man and have notified his family.

They have appealed for any witnesses who saw or heard anything near the apartment complex on Eardley Street on Monday evening or Tuesday morning last week.

Witnesses can contact CrimeStoppers on 1800 333 000 or report it online at act.crimestoppers.com.au.

Support is available for anyone who may be distressed by phoning Lifeline 131 114; Mensline 1300 789 978; Kids Helpline 1800 551 800, SANE Helpline 1800 187 263 or beyondblue 1300 224 636.