Last Updated: 28th October 2021
Canning Hill Piers jointly developed by City Developments Limited (CDL), CapitaLand Limited (CapitaLand) and Ascott Residence Trust (Ascott Reit). They have joined up to redevelop the Liang Court site into an integrated advancement taking after the proposed deal by CDL Hospitality Trusts (CDLHT) of its add up to interest in Novotel Singapore Clarke Quay, subject to the approval of CDLHT’s unitholders to the 50:50 CDL-CapitaLand joint wander substances and CDL. Concurrently, Ascott Reit will offer portion of its interest in Somerset Liang Court Singapore2 to CDL.
The location comprises of Liang Court shopping center, midscale hotel Novotel Singapore Clarke Quay and serviced residences Somerset Liang Court Singapore. Ascott Reit said during its recording that it’ll utilize its net proceeds from offering portion of its interest in Somerset Liang Court Singapore to develop the serviced home, from the held 13,034 sqm of GFA. The land’s lease tenure will be refreshed from 57 a long time to 99 a long time. Upon completion, the project development will cost an estimate amount of $300 million
Canning Hill Piers with the redevelopment in place, the consortium plans to restore the waterway promenade flanking the property which is in line with the Urban Redevelopment Authority’s Draft Masterplan 2019 to upgrade the area’s dynamic quality. This is often anticipated to create social activities around the proposed integrated development and improve pedestrian accessibility along the Singapore River situated within the heart of Clarke Quay – Singapore’s most prevalent riverfront lifestyle and entertainment region – and on the periphery of Singapore’s Central Business District, the proposed direct link is connected to the Central Expressway through River Valley Street. It enjoys excellent network to open transport with direct connection t to Fot Canning MRT Station on the Downtown Line and could be a brief walk from Clarke Quay MRT Station on the North East Line. The property is additionally linked to an overhead pedestrian bride that gives access get to to Fort Canning With the future plans of Greater Southern Waterfront & CBD incentive scheme in place coupled with this strategic location, Canning Hill Piers will be the latest focal point. Enjoy unrivalled connectivity and convenience when you call Canning Hill Piers your home. With Tanjong Pagar Plaza, Chinatown Point, 100AM Shopping malls near vicinity and you’re a few minutes walk away from Tanjong Pagar MRT lines. With such exceptional attributes, Canning Hill Piers is destined to create a distinctive & and captivating landmark that will serve as the core for the whole Tanjong Pagar area.
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Canning Hill Piers is the latest luxury integrated development jointly collaborated by 3 of the well known & reputable developers mainly CDL, Capitaland & Ascott Residence Trust. Canning Hill Piers raises the bar transforming River Valley into a well balance vibrant mixed used lifestyle. Living close to the city has a lot of benefits to the residents of Canning Hill Piers. Located in the vicinity of luxury hotels, commercial, schools, MRT the 325 residences at Canning Hill Piers have been conceived as the perfect abode for the well-heeled and well-travelled. The proposed extend will contain two private towers with some 700 private units, a commercial component, an “upper midscale” hotel with 460 to 475 rooms, and a 192-unit serviced home with a hotel licensed. Upon completion, the 50:50 CDL-CapitaLand joint venture will own the private and commercial components whereas Ascott Reit will claim the 192-unit serviced residence with a hotel permit. The redevelopment of Liang Court marks another collaboration between CDL and CapitaLand taking after final year’s fruitful joint offered to create a commercial and private location in Sengkang Central on Buangkok MRT station. The proposed integrated development is focused on to open in stages from 2024.
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