CANNINGHILL PIERS DEVELOPER
Canninghill Piers Developer
Jointly developed by 2 powerhouse developers, CanningHill Piers is a unique one-of-a-kind integrated development in Clarke Quay. For City Development Limited and CapitaLand who have collaborated to develop Sengkang Grand Residences, the duo is no stranger to integrated developments.
City Development Limited
City Development Limited (CDL), a well-established brand name in Singapore rose from very humble beginnings in a rented office with 8 employees. In 1965, the company achieved a significant milestone by delivering its first residential project ‘Fresh Breezes’ in Johor Bahru and it also pioneered the concept of a ‘show flat’ for marketing real estate. In the same year, this CanningHill Piers Developer also brought forth its first high-rise residential development, City Towers in Singapore. Following City Towers, the company also developed Clementi Park, which is its first full condominium.
In 1972 the company underwent a transformation as Hong Leong Group acquired controlling interests in CDL and began to diversify into an investment property. Under the leadership of late Mr. Kwek Hong Png, CDL advanced its position as a leading real estate developer in Singapore. By the 1980s the company had established an impressive track record of launching 21 residential developments and City House in Central Business District which became CDL’s headquarters.
As of 31 December 2020, CanningHill Piers Developer has reported total assets worth $23.7 billion which includes $9.4 billion in property development, $6.8 billion in investment property, and $5.8 billion in hotel operations. In terms of floor area, this would translate to a staggering 24 million square feet of gross floor area in residential, commercial, and hospitality properties worldwide. In addition, the company owns an impressive global land bank with an estimated 3.4 million square feet of land area. And for the fiscal year 2020, the developer achieved $1.8 billion worth of sales through the sale of 1,318 residential units in Singapore.
Holding a proven track record of over 50 years in property development, CanningHill Piers Developer has built over 46,000 homes and presently distinguishes itself as a pioneer in developing sustainable spaces. Bearing the motto of ‘conserve as we construct’, the company invests and pushes boundaries to set new benchmarks for sustainable living spaces.
And their effort has led to many prestigious awards in Singapore such as BCA’s Green Mark Platinum Award 2019 and Award for Leadership in Sustainable Design and Performance in the Residential category for 2019, which is conferred by the Singapore Green Building Council and the Building Construction Authority (BCA). In addition, the CanningHill Piers Developer is also well recognized by the industry worldwide and this has helped them garnered reputable awards overseas.
With CDL as CanningHill Piers Developer, we can look forward to a quality development with an exceptional living experience! Other reputable developments by CDL include premium luxury residences such as Boulevard 88 and Nouvel 18, high-end residences with Amber Park and Haus on Handy, Executive Condominium development with Piermont Grand, and Sengkang Grand Residences which is an integrated development at Buangkok MRT station.
CanningHill Piers Developer, CapitaLand Group, is one of Asia’s largest real estate organizations with an impressive track record. Formed in 2000 from the merger of Pidemco Land and DBS Land, CapitaLand has constantly reinvented itself to stay ahead of the market over the past two decades. As of September 2021, the Group implemented the strategy to privatize its property development arm (CapitaLand Development) and listing its fund-management and property-investment business, CapitaLand Investment. As such, CapitaLand will now operate as 2 distinct entities. This was implemented so that individual businesses can better focus on the necessary growth strategies.
With its headquarter in Singapore, the CanningHill Piers Developer has a presence in over 250 cities and 30 countries. CapitaLand Development is the development business of CapitaLand Group which is responsible for a portfolio worth approximately S$22.0 billion as of 30 June 2021. The Group’s primary markets are Singapore and China while it continues its expansion into markets in Asia such as India, Vietnam, and markets in Australia, Europe, and the USA.
The company owns a very diversified portfolio that includes integrated developments, offices, retail malls, residential developments, serviced residences, business parks, industrial developments, logistics, and data centers. Their strength is in master planning, land development, and project execution and these have earned the company numerous awards such as the Building and Construction Authority Quality Excellence Award and FIABCI Prix d’Excellence Award.
As markets in Singapore and China rebounded this year, CapitaLand reported an impressive half-year net profit of S$922.15 million as of June 30, 2021. And this first-half performance is almost 10 times the S$96.6 million reported in the first half of FY2020. The Group’s revenue for H1 FY2021 increased 34.7% year-on-year to S$2.73 billion, due to the higher handover of residential units in China and progressive revenue recognition from new developments in Singapore. The group is looking forward to further growth for the next six months as countries boost their vaccination efforts.
For its residential business, the CanningHill Piers Developer reported that the total sales value and number of units achieved in H1 2021 in Singapore was almost six times that of H1 2020. This strong performance is due to the improved economic outlook. Correspondingly, the company also saw strong sales in China as 2,625 residential units were transacted in the first half of 2021 which is equivalent to an estimated 48.4% increase year-on-year while sales revenue jumped by 43.3% to over eight billion yuan (S$1.7 billion).
Meanwhile, the company also handed over 1,453 units that have a value of 4.95 billion yuan. This uptrend will continue as 6,700 units in China will be handed over from Q3 and this is worth an astounding value of about 14.1 billion yuan.
BOOK APPOINTMENT AND GET DIRECT DEVELOPER PRICE
CanningHill Piers is part of a new integrated development that includes includes a commercial podium CanningHill Square with F&B and retail outlets, a 475-room hotel operated under the Moxy brand by Marriott International and a 192-unit serviced residence managed by The Ascott Limited.
CanningHill Piers is located at Singapore’s favourite lifestyle hub Clarke Quay. This new development is seated along River Valley road, between the historical Fort Canning Hill and the iconic Singapore River in prime District 6.
CanningHill Square which is located within the integrated development offers a wide variety of F&B and retail shops for the convenience of the residents. In addition, residents can also access many quality shopping malls close to the development such as The Central at Clarke Quay MRT, Chinatown Point at Chinatown MRT, Marina Bay Sands Shoppes at Bayfront MRT, Raffles City Shopping Centre at City Hall MRT, Bugis Junction at Bugis MRT and Suntec City at Promenade MRT.
In addition to shopping malls, CanningHill Piers is located at one of Singapore’s famous is close to many exciting recreational venues such Fort Canning Park, Gardens by the Bay, Marina Barrage, Marina Bay Sands and Chinatown.
CanningHill Piers offer many choice schools close to the development which includes River Valley Primary at River Valley Close, Stamford Primary at Victoria Lane, Cantonment Primary at Cantonment Close and Outram Secondary at York Hill. In addition, with the convenience of Fort Canning MRT and the Downtown line, students can commute directly to many prestigious schools such as Anglo Chinese School at Newton MRT, Singapore Chinese Girls School at Stevens MRT, Hwa Chong Institution and Nanyang Girls at Tan Kah Kee MRT.
CanningHill Piers is directly linked to Fort Canning MRT on the Downtown line and it is an estimated 8-minute walk to Clarke Quay MRT on the North East line. In addition, there are major bus services right in front of the development and for drivers, major expressways such as MCE, ECP and AYE are within close proximity.
The expected TOP date for CanningHill Piers is 30 June 2027.