Located in District 6 along River Valley Road and close to Clarke Quay estate, Canninghill Piers is a new upcoming development spearheaded by City Development and CapitaLand.
The property is configured to accommodate around 700 units in two residential towers. The former site development includes the Novotel Hotel, Liang Court Mall and Somerset. Liang Court serviced residences.
In a joint statement, City Development (CDL) and CapitaLand announced that the Ascott Residence Trust (Ascott Reit) would join the consortium that will develop Canninghill Piers, which is expected to be completed in 2024. 100,263 square meters.
The planned development will include a hotel, commercial units and a residence with services after approval by the respective authorities. You enjoy the direct connection to the MRT Fort Canning. ) sold the property to CLD and CapitaLand for 50:50 development. Ascott Reit also sold a portion of its on-site assets, including Somerset Liang C.
Upon completion of the Canninghill Piers construction, CDL-CapitaLand will own the commercial and residential components, while Ascott Reit will have 192 serviced residential units and hotel licenses.CDLHT will own the 460-470 room hotel under a pre-sale agreement with CDL.
The hotel is managed by Marriott International as Moxy and the serviced residences are operated as Somerset. To renovate the Riverwalk and bring new life to the Canninghill Piers. The plans correspond to the URA master plan for 2019 to increase vitality in the region. Demand for Canninghill Piers is expected to be high due to its strategic location with easy access to amenities.