Luxury development CanningHill Piers, by Singapore’s two giant developers, CapitaLand Development and City Developments , previewed on Nov 5. (Photo: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) -- New luxury development CanningHill Piers, by Singapore’s two giant developers, CapitaLand Development and City Developments Ltd (CDL), previewed on Nov 5.
Read also: CanningHill Piers to start sales preview on Nov 5; prices start from $1.16 mil for one-bedroom unit
The 696-unit residential tower is part of an integrated development that includes CanningHill Square with F&B and retail outlets, a 475-room hotel to be operated by Moxy under Marriott International, as well as a 192-unit serviced residence under the Somerset brand, managed by The Ascott.
The project is a redevelopment of a former integrated development with Liang Court shopping mall, Novotel Singapore Clarke Quay hotel and Somerset Liang Court. The new development, which will have a gross floor area (GFA) of 1.1 million sq ft, will be the largest integrated development in Singapore’s Central area when completed in 2025, according to the developers.
The luxury residences of the 99-year leasehold CanningHill Piers will have units that enjoy dual frontage views of Fort Canning Hill and the Singapore River.
The project is designed by Danish architecture firm Bjarke Ingels Group (BIG), which is known for its award-winning works such as VIA 57 West Apartments in New York City, the M/S Maritime Museum of Denmark and Lego House in Denmark.
Singapore-American Brian Yang, a partner at BIG who is now based in Copenhagen, grew up in Singapore. He remembers visiting the former Liang Court as a child together with his family.
According to Yang, one of the unique opportunities with the rejuvenation of the area around Singapore River and the redevelopment of the former Liang Court site was “to rethink the relationship between the building and Fort Canning Hill and the Singapore River, and how everything works together as part of a vibrant waterfront community”. He adds: “We wanted to restore not just the visual connectivity, but also the physical connectivity between the hill and the river.”
CanningHill Piers is BIG’s first residential project in Singapore and Asia, says Yang. BIG was also involved in the design of CapitaLand’s CapitaSpring, an integrated development with a 280m-high office tower at Market Street in Singapore’s CBD and Google’s headquarters in California.
The residential units of CanningHill Piers will be spread across two towers: a 48-storey high-rise tower and a 24-storey tower, which are linked by a sky bridge spanning the 24th level.
The units are a mix of one-bedroom to five-bedroom apartments with sizes from 409 to 2,788 sq ft, as well as sky suites from 2,874 sq ft and a sole super penthouse of 8,956 sq ft.
Indicative prices for the apartments start from $1.16 million ($2,836 psf), with four-bedroom units from $5.22 million, and five-bedroom premium units from the 25th floor upwards of $8.1 million. The super penthouse on the 48th level has an indicative price of $50 million or $5,583 psf.
According to Chia Ngiang Hong, group general manager of CDL, the penthouse is “unique, the only one in the development”, hence the price tag of $50 million.
One- and two-bedroom units make up more than three-quarters of the units in the development. Amid the work-from-home (WFH) trend, there is strong demand for the smaller units from young people who want to move out of their parental homes, says Lee Mei Ling, CDL executive vice president and head of property development. “They prefer to buy the smaller units so they can have their own private space with this new WFH lifestyle,” she adds.
Within the development, there is the CanningHill Club at level 24, which features several pools, including an infinity pool overlooking the city, as well as recreational facilities like a yoga deck, meditation room and two gyms.
To cater to those working from home, the club also offers a co-working space as well as pods when more privacy is required, says Lee.
On level 45 is a private club, CanningHill Sky, which overlooks the city skyline with two lounges for hosting private parties. It has a well-equipped kitchenette as well as an island counter that can be transformed into a bar.
“The project is set to become the next icon in the Clarke Quay area, simply being by the river, by the hill, by the city and by itself,” says CDL’s Lee. The project is scheduled for completion in 2025.
Being located within an integrated development means having the convenience of amenities and facilities within easy access, says Dominic Lee, PropNex head of luxury team. “CanningHill Piers is like a self-contained project, with F&B outlets, MarketPlace supermarket within the development, as well as the amenities of Clarke Quay and UE Square nearby,” he adds.
Located at the fringe of the CBD, CanningHill Piers has a direct link to Fort Canning MRT Station on the Downtown Line, and is within walking distance of Clarke Quay MRT Station on the North-East Line. “It’s within the Central region and surrounded by amenities,” PropNex’s Lee points out.
Given the significance of the development, it has attracted a lot of interest, primarily from investors, particularly for the one- and two-bedroom apartments, notes Lee. He reckons the average price of the project could be $3,100 to $3,200 psf.
Ken Low, managing partner of SRI, sees CanningHill Piers attracting not just singles but families too. There is a promenade from Merchant Loop that links to Pearl’s Hill, and also to the Canning Hill Park all the way to Istana Park. “CanningHill Piers is probably the only integrated development downtown that falls within a green lung,” he says.
Mark Yip, CEO of Huttons Asia, sees CanningHill Piers as “a lifetime opportunity to own an iconic, integrated development by the Singapore River and Fort Canning Hill”. What’s more, it will be the tallest development by the Singapore River, hence, the views will be “magnificent”, he remarks.
As an integrated development, the apartments will be able to command a premium in terms of rental and selling prices in the future, making it a further draw for investors, adds Yip. — with additional reporting by Cecilia Chow
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