AN ICONIC DEVELOPMENT WITH DUAL-FRONTAGE
CanningHill Piers is an upcoming integrated luxury residential development that is located between the historic Fort Canning Hill and iconic Singapore River in District 9. The proposed development, once approved by the respective authorities, will feature a hotel, commercial units, and a serviced residence. The redevelopment of the site comes after CDL Hospitality Trusts (CDLHT) sold the property to CLD and CapitaLand to be developed on a 50:50 ratio. Ascott Reit has also sold some of its assets on the site including Somerset Liang Court to CDL. Upon completion of Canninghill Piers, CDL-CapitaLand will own the commercial and residential components while 192 units of serviced residence with a hotel license will be under Ascott Reit. CDLHT is set to own the hotel featuring between 460 and 470 rooms on a forward purchase agreement with CDL. The hotel will be run by Marriott International operating as Moxy, and the serviced residences will operate as Somerset. The three leading developers in Singapore also plan to revamp the river promenade to add new life to Canninghill Piers. The plans agree with URA’s 2019 Master Plan of increasing vibrancy in the area. The demand for Canninghill Piers is expected to be high because of its strategic location with easy access to amenities. The three heavy weight developers behind Canninghill Piers are CDL, CapitaLand and Ascott Reit. The residential and commercial units are shared between CapitaLand and CDL on a 50:50 basis, the hotel is under CDL, while Ascott Reit takes the serviced apartments with a hotel license. These Singapore-based developers are not new in the real estate scene and completed high performing past projects designed to surpass the industry’s standards. Project Name: Canninghill Piers (Former Liang Court) 康宁河湾
Prime district of Singapore
Developer: City Developments Limited (CDL), CapitaLand Limited (CapitaLand) and Ascott Residence Trust (Ascott Reit)
Address 177 River Valley Road Singapore 179030
Showflat Location River Valley Road (Click here for more)
Tenure 99 years leasehold
An integrated development comprising: Two residential towers comprising around 700 apartments
· Commercial component
· Hotel
· Serviced residence with a hotel licence
· Basement car park
No of Units Integrated development with 700 residential apartments
Expected TOP Phased completion from 2024
Land Area 12,925.4 sq m
Gross Floor Area · Residential 60,158 sq m
· Commercial 11,530 sq m
· Hotel 15,541 sq m
· Serviced residence 13,034 sqm (with a hotel licence)
· Total 100,263 sq m
