CanningHill Piers sells 77% of its 696 units, including $48m penthouse

Canninghill Piers condo

CanningHill Piers sells 77%

SINGAPORE – CanningHill Piers’ sole penthouse, which brags panoramic perspectives of the city and the Singapore River, was sold for $48 million during the development’s dispatch toward the end of the week.

It was among 538 units of the undertaking by City Developments Limited (CDL) and CapitaLand Development (CLD) that were gobbled up.

The 696-unit, 99-year leasehold extravagance condominium is essential for an integrated development coming up on the site of the former Liang Court shopping mall, Novotel Singapore Clarke Quay lodging, and Somerset Liang Court.

The normal selling cost was about $3,000 per sq ft (psf), with the 8,956 sq ft penthouse going for $5,360 psf.

Apartments went in size from 409 sq ft for a one-bedroom unit to 1,313 sq ft for a three-bedder and 2,788 sq ft for a five-bedroom premium.

Canninghill Piers condo
CanningHill Piers sells 77%

All unit types were generally welcomed, with chosen stacks completely sold, the companies said in a joint delivery on Sunday (Nov 21).

CanningHill Piers sells 77% Including Penthouse

Singaporeans made up 81% of purchasers, with the remaining 19% comprising permanent inhabitants and outsiders from mainly China, Malaysia, Indonesia, Australia, South Korea, the United States, and the United Kingdom, they added.

The strong deals make CanningHill Piers the top-selling project dispatch in the focal region this year.

Last Friday, Jervois Mansion condominium in the same River Valley region sold the remainder of its 105 units, after 100 units were reserved during the freehold undertaking’s dispatch in October. They went at costs averaging $2,548 psf.

Defying the Covid-19 pandemic, deals of new private homes in the initial 10 months of 2021 – at 10,918 units – have outperformed entire year deals in the past three years.

Read: Condo Resale Price Up

Examiners are predicting that the market will end on an eight-year high of around 12,000 to 13,000 new deals. The past record was 14,948 units in 2013.

CanningHill Piers’ 48-story pinnacle will be the tallest private development by the Singapore River, while a second, 24-story pinnacle will neglect Fort Canning Hill. They will be linked by a 24th-level sky span with an infinity pool.

Mr. Sherman Kwek, the bunch CEO of CDL, said: “The venture is arranged on an uncommon and notorious site that will set another benchmark for integrated metropolitan living at the core of Singapore’s premier entertainment and way of life area.”

CLD CEO Jason Leow said home purchasers were drawn in by the venture’s “distinctive plan” by Danish design firm Bjarke Ingels Group, known for its honor-winning works like Lego House in Denmark.

The development likewise has an immediate link to Fort Canning MRT station and is within a short stroll to Clarke Quay MRT station.

CanningHill Piers Showflat is essential for an integrated development that will include CanningHill Square mall, a 475-room lodging, and a 192-unit overhauled home.

The undertaking will be the biggest integrated development in the focal region when completed in 2025.


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