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Thread: Canninghill Piers (D9, 99 years leasehold, City Developments Ltd (CDL) / CapitaLand)

  1. #1
    Join Date
    Jul 2013

    Default Canninghill Piers (D9, 99 years leasehold, City Developments Ltd (CDL) / CapitaLand)

    Canninghill Piers is a rare integrated development in the heart of district 9, Singapore.. With a total of 700 residential units ranging from 1 bedroom to 3 bedrooms, with penthouses for those exclusive few, It promises a comfortable residence coupled with city living, warm and friendly condo facilities and community spirit.

    For More Information Contact AG
    Property Asset Progression Consultant

  2. #2
    Join Date
    Dec 2020

    Default Clarke Quay Latest Development

    Latest project by renowned developers to be jointly developed in prestigious district 9. Name of the project is Canninghill Piers in Clarke quay. Will be an integrated development.

  3. #3
    Join Date
    May 2021

    Default Clarke Quay Upcoming Development

    This Clarke Quay upcoming Project is jointly developed by CDL and Capitaland
    Project tenure 99 years with Project name Canninghill Piers
    This project amenities consist of restaurants, F&B outlets and alfresco dining along the Singapore River in Clarke Quay providing much convenience.
    minutes walk to Clarke Quay mrt, excellent public commuting network and infrastructure.
    Canninghill Piers location has all the excellent, convenient, efficient public commuting

  4. #4
    Join Date
    Dec 2020

    Default Joint Development in D9

    New condo by CDL andCapitaland, a joint development
    99 years leasehold in district of prestige, D9
    new condo name is Canninghill Piers
    Opposite Fort Canning, along Clarke Quay
    Highly convenient with all the riverside amenities
    Canninghill Piers location much sought after also because it is minuteswalk to Clarke Quay MRT station
    Minutes to Orchard locality for all the vibes andhappenings.

  5. #5
    Join Date
    May 2021

    Default CDL and Capitaland D9 Joint Development along River Valley

    new condo in an integrated development - joint development by CDL and Capitaland
    Opposite Fort Canning Park and along Singapore River in Clarke Quay
    Project name is Canninghill Piers
    Minutes to all parts of Singapore via mrt with the Clarke Quay mrt station minutes walk away.
    Canninghill Piers location much sought after with all the conveniences provided by the surrounding amenities
    Many restaurants, F&B outlets and alfresco dining along the SIngapore River
    Minutes drive to Central Business District, Orchard Road, Vivocity and Sentosa

  6. #6
    Join Date
    May 2021

    Default new condo launch by CDL and Capitaland in D9

    Canninghill Piers by CDL and Capitaland.
    Along Clarke Quay in District 9
    Opposite Fort Canning with all the greenery from nature
    Many good amenities - restaurants, F&B outlets for alfresco dining
    Minutes walk to Clarke Quay MRT
    Minutes drive to Central Business District, upcoming Greater Southern Waterfront
    Canninghill Piers location is excellent
    Canninghill Piers price update available during preview

  7. #7
    Join Date
    Jun 2009

    Default CanningHill Piers to start sales preview on Nov 5; prices start from $1.16 mil

    CanningHill Piers to start sales preview on Nov 5; prices start from $1.16 mil for one-bedroom unit

    SINGAPORE (EDGEPROP) - CanningHill Piers, the new luxury residence located between Fort Canning Hill and the Singapore River, will commence its sales gallery preview on Nov 5.

    The 99-year leasehold development is developed jointly by CapitaLand Development (CLD) and City Developments Ltd (CDL).
    The site has a total of 696 units spanning across a 48-storey tower and 24-storey tower. The towers are linked by a sky bridge on level 24.
    The units comprise one-bedroom apartments to five-bedroom apartments of 409 sq ft to 2,788 sq ft, as well as Sky Suites that measure from 2,874 sq ft and a single super penthouse sized at 8,956 sq ft.
    Indicative prices for the apartments start from $1.16 million for a one-bedder.
    Prices for four-bedders will start from $5.22 million, while a five-bedroom premium unit on the 25th floor will be priced from $8.1 million.
    The development’s super penthouse, on level 48, has an indicative price of $50 million, which translates to $5,582.84 psf.
    According to Chia Ngiang Hong, group general manager at CDL, the penthouse is a unique one, being the only one in the development.
    Hence, “[we are] not shy to look at $50 million. However, the final price is not fixed yet,” he said at a media briefing.
    CanningHill Piers is part of an integrated development that includes CanningHill Square with food & beverage (F&B) and retail outlets, a 475-room hotel operated by Moxy under Marriott International, as well as a 192-unit serviced residence under the Somerset brand, managed by The Ascott Ltd.
    The site formerly housed Liang Court, Novotel Singapore Clarke Quay and Somerset Liang Court, and has a gross floor area (GFA) of 1.1 million sq ft.
    Its size makes the upcoming integrated development one of the largest in Singapore’s central area.
    The development is scheduled for completion in 2025.
    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 Lee Mei Ling, CDL’s executive vice president and head of property development.
    The development is located at the fringe of the CBD, and has direct access to Fort Canning MRT Station on the Downtown Line. It is also within walking distance to Clarke Quay MRT Station on the North-East Line.
    “The transformation of the former Liang Court site into a new riverside landmark at the heart of a vibrant lifestyle hub augments the planned rejuvenation of the Singapore River precinct. Beyond creating a new architectural icon for Singapore’s city centre, we have reimagined this sizeable, rare site and unlocked its potential as an anchor of the Fort Canning and Clarke Quay area,” says Sherman Kwek, CDL Group CEO.
    “The residential component, CanningHill Piers, marks a new paradigm for integrated urban living at a much sought-after waterfront location. This transformative project — one of the largest redevelopment initiatives in the Central Area — is part of CDL’s strategy to unlock latent value,” Kwek adds.
    “From Funan in the Civic District to CapitaSpring at Raffles Place, CapitaLand has played a key role in rejuvenating Singapore’s city centre to enhance its attractiveness and keep up with evolving lifestyle trends. We are pleased to partner with CDL to create an integrated development on the former Liang Court site that is in line with the Urban Redevelopment Authority’s Master Plan 2019 to create vibrant live-in communities in Singapore’s Central Area and further enliven the spaces along the Singapore River,” says Jason Leow, CEO at CLD.
    “The redevelopment is one of CapitaLand’s precinct-level projects, whereby we inject holistic work-live-play elements to activate a precinct and maximise the synergy among the Group’s properties within it. Thoughtfully designed to cater to city dwellers’ aspirations for style, wellness and connectivity, CanningHill Piers offers residents direct access to three levels of F&B and retail amenities in CanningHill Square as well as more options in Clarke Quay along Singapore River. With many winning attributes, we are confident that CanningHill Piers will be well-received by discerning homeowners,” Leow adds.

    Bookings will commence on Nov 20.

    By Appointment only

    The Best Time to buy Property is Yesterday.
    If you lose Money it because you sell on a wrong Day.

    You don't Buy others will Buy.
    You don't Sell, others will Sell.

  8. #8
    Join Date
    Jun 2009

  9. #9
    Join Date
    Oct 2011

    Default New landmark CanningHill Piers debuts at prices from $2,836 psf

    New landmark CanningHill Piers debuts at prices from $2,836 psf

    EdgeProp Singapore

    November 12, 2021

    SINGAPORE (EDGEPROP) -- New luxury development CanningHill Piers, by Singapore’s two giant developers, CapitaLand Development and City Developments Ltd (CDL), previewed on Nov 5.

    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.

    Read more at:

  10. #10
    Join Date
    Oct 2011

    Default Re: Canninghill Piers

    CanningHill Piers' S$1.18b of sales in one weekend underscore hot demand for luxury condos

    Nov 21, 2021

    A SPRAWLING penthouse unit atop the luxury residential condominium CanningHill Piers fetched S$48 million during its launch weekend, a testament to the red-hot demand for high-end real estate in Singapore.

    The price tag for the 8,956 square foot apartment - set to be the highest unit atop the tallest residential development along the Singapore River - translates to about S$5,360 per square foot (psf).

    Homebuyers snapped up a total of 538 units - or 77 per cent - out of the 696 units at an average selling price of around S$3,000 psf, according to a statement from City Developments Ltd and CapitaLand Development, the joint developers of this project. Total sales hit over S$1.18 billion.

    All unit types - from smaller 409 sq ft one-bedroom apartments to 2,788 sq ft five-bedroom apartments - were well received, with selected stacks fully sold, the companies said in a joint statement. The 99-year leasehold condominium, part of the integrated redevelopment on the former Liang Court site, is now the best-selling project launch in the Central Area this year.

    The majority - or 81 per cent - of buyers were Singaporeans, while the remaining 19 per cent were permanent residents and foreigners from China, Malaysia, Indonesia, Australia, South Korea, USA, UK, among others.

    Singapore private home prices have been rising despite the pandemic. Sales of new private homes in the third quarter rose at a faster rate amid tightened Covid-19 restrictions, fuelled by demand from citizens looking to upgrade their homes and an improving economy.

    Sherman Kwek, chief executive of City Developments Ltd, said that the positive take-up is a "testament to the combined strength of both CDL and our JV partner, CapitaLand".

    "The project is situated on a rare and iconic site that will set a new benchmark for integrated urban living at the heart of Singapore’s premier entertainment and lifestyle district," he added.

    CanningHill Piers is situated in the heart of Clarke Quay - a lifestyle and entertainment precinct, and is within walking distance to Clarke Quay and Fort Canning MRT stations.

    Jason Leow, chief executive of CapitaLand Development, said homebuyers were attracted to CanningHill Piers' "distinctive design" by the Danish architecture firm Bjarke Ingels Group, known for the Toyota Woven City in Japan.

    "We are confident that the project's iconic status, well-appointed homes and excellent connectivity will continue to attract robust interest from prospective homebuyers," said Leow.

  11. #11
    Join Date
    Oct 2011

    Default Re: Canninghill Piers

    [UPDATE] CanningHill Piers chalks up 77% sales worth over $1.18 bil

    EdgeProp Singapore

    November 21, 2021

    SINGAPORE (EDGEPROP) - City Developments Ltd (CDL) and CapitaLand Development, joint developers of CanningHill Piers announced that 538 out of a total of 696 units in the project were sold by the close of 6pm today. This brings the sales rate to 77%, with total sales valued at over $1.18 billion. Average selling prices achieved was around $3,000 psf.

    The sole super penthouse of 8,955 sq ft was sold for $48 million ($5,360 psf), just 4% below the $50 million ($$5,583 psf) price tag. The buyer is believed to be a Singaporean businessman, although the developer declined to comment. The deal is brokered by PropNex. The super penthouse is located on the topmost level of the 48-storey residential tower and is said to have “unmatched panoramic views of the city and the riverfront”.

    “The robust sales make CanningHill Piers the best-selling project launch in the Central Area this year,” according to the developers in a joint statement. All unit types were said to be “well received, with selected stacks fully sold”.

    Read more at:

  12. #12
    Join Date
    Aug 2020

    Default Re: Canninghill Piers

    Canninghill Piers sales linked to money laundering suspect stuck in limbo as probe continues

    Status of uncompleted transactions and payments is in doubt, with properties frozen by court order

    Sep 08, 2023

    Updated Sep 11, 2023

    INVESTIGATIONS into a wide-reaching money laundering syndicate have thrown partially paid transactions for 10 Canninghill Piers luxury properties into a state of limbo, including payments collected by developers so far.

    With the police probe uncovering new information by the day, more uncompleted properties may soon be caught in the web. The value of seized assets has gone up from an initial S$1 billion reported on Aug 16 to S$1.8 billion on Sep 5.

    One of the 10 suspects caught in the massive police dragnet, Vang Shuiming, has been verified in court documents to have financed the purchase of 10 residential units at Canninghill Piers. The project is a luxury integrated development coming up on the former Liang Court site in River Valley. The 10 properties identified in court have been issued with prohibition-of-disposal orders by the police.

    One issue arising is whether the developers, City Developments (CDL) and CapitaLand Development, will be able to keep part of the sizeable funds collected so far in payment for these units. As the project is still under construction, payments would have been made according to a standard progressive-payment schedule.

    It is also unclear if the developers will be able to recover the units now frozen by court order to eventually resell them.

    “After payment is made to a developer pursuant to a sale-and-purchase agreement, the money belongs to the developer. Therefore, consideration must be from the perspective of the developer, and, given the circumstances of each case, how much knowledge the developer had surrounding the proceeds they have received,” said Denise Teo, director of disputes resolution practice group at Yuen Law.

    “The procedure is such that once property (in this case, the payments for the property) is seized (or simply frozen by a prohibition order, if not physically taken), it is likely to remain seized until the conclusion of the criminal case, when the court will make an order on how the property is to be dealt with,” she added.

    When a confiscation order is made by the court, the bank or developer must hand over monies collected to the authorities, Teo said.

    In response to queries from The Business Times (BT), CDL and CapitaLand Development said they were unable to comment as investigations are ongoing.

    According to the standard payment schedule for uncompleted properties, an initial 20 per cent would have been paid upfront when the sale-and-purchase agreement was signed.

    The balance is paid progressively, in line with stages of construction of the project. The final payments, totalling 40 per cent of the purchase price, are made when the development receives its temporary occupation permit (TOP) and certificate of statutory completion.

    In the case of the 10 Canninghill Piers units now confirmed to be under probe, Vang would have paid possibly 30 per cent to 40 per cent of the purchase price for these units since the purchase, with a significant balance yet to be collected by the developers.

    Canninghill Piers was launched for sale in November 2021. Prices ranged from S$1.16 million for a one-bedroom unit to over S$8 million for five-bedroom units, to S$50 million for a penthouse. Based on estimates, the 10 units linked to Vang, who was arrested on Aug 15, could have cost a total sum of between S$30 million and S$50 million.

    Vang is also named in connection with an uncompleted property in Park Nova, a high-end freehold project on Tomlinson Road being built by Hong Kong developer Shun Tak. Launched in May 2021, Park Nova apartments were sold at between S$6.8 million and S$34.4 million during the month, according to BT’s checks on caveats data.

    Under the Housing Developers Rules, a developer can treat the sale-and-purchase agreement as repudiated by the purchaser if any part of payment is unpaid for more than 14 days after it is due.

    The developer is then entitled to annul the agreement. It has the right to resell the property and keep 20 per cent of the amount paid, refunding the balance to the purchaser.

    With police investigations ongoing, these contract terms are now in doubt and any outcome will depend on court orders, said Tris Xavier, associate director of integrated property practice group at Yuen Law.

    New guidelines for developers to combat money laundering and terrorism financing in the Singapore property market kicked in on Jun 28, 2023. The guidelines, issued by the Urban Redevelopment Authority (URA), require developers to conduct checks on prospective buyers. They also spell out high-risk scenarios – such as unusually large transactions – that should be flagged to the authorities.

    URA’s guidelines further require ongoing monitoring of transactions. “Developers must, before issuing the notice of payment for TOP and for completion of sale, review the adequacy of the information and documents obtained” as a result of customer due diligence checks, to take into account new information on the buyer, their income, risk profile and source of funds.

    BT understands that since the new guidelines took effect on Jun 28, the Canninghill Piers transactions now under investigation may not have been subject to requirements.

    Previous media reports have said that a single buyer from Fujian, China, had purchased 20 units at Canninghill Piers for more than S$85 million.

    It is believed that the current prohibition orders cover 10 of those units.

    According to previous reports, the 20 apartments sold to a single buyer included 10 three-room units priced between S$3.1 million and S$3.3 million; the rest were four-room units priced between S$5.3 million and S$5.6 million.

    Latest caveats data as at Sep 8 shows that 680 units – or 98 per cent of the project – have been sold. The most recent sales lodged for Canninghill Piers over the last three months were for two five-room units transacted at about S$8.6 million each.

    Over the 99-year leasehold project’s launch weekend in November 2021, 538 units were sold at an average price of around S$3,000 per square foot.

    Joint developers CDL and CapitaLand Development chalked up total sales of S$1.18 billion over that weekend, and moved 77 per cent of the project’s 696 units.

    The project is expected to be completed in 2025.
    Last edited by New Reporter; 11-09-23 at 14:13.

  13. #13
    Join Date
    Aug 2020

    Default Re: Canninghill Piers

    Suspect’s seized assets in money laundering case include 10 Canninghill Piers units; those charged to be remanded further

    Sep 08, 2023

    THE 10 foreign nationals charged with their alleged involvement in the high-profile money laundering case – which involves assets of some S$1.8 billion now – will remain in police custody until their next court dates, amid ongoing investigations.

    In court on Wednesday (Sep 6), the prosecution brought up affidavits filed by investigating officers, which said the accused should not be granted bail as the offences committed were serious.

    There was also a risk of collusion among the accused and witnesses – these include family members of the accused and other persons who are currently overseas.

    Deputy Public Prosecutor (DPP) Foo Shi Hao said one of the persons on the run – referred to as Subject Y – was a cousin of an accused, Chinese national Wang Baosen. More than S$100 million belonging to Subject Y has been frozen.

    DPP Foo argued that granting the accused bail would raise a risk of collusion and witness tampering.

    Wang Baosen’s counsel, Adrian Wee of Lighthouse Law, argued for him to be out on bail. He said his client was specifically handed two charges involving assets or cash worth S$396,000, which, although serious, “does not cross the threshold to deny (the accused) bail”.

    He also said his client was not a flight risk, as his two passports were seized by the police and his assets of S$18 million have been frozen.

    DPP Foo refuted these statements, pointing out that S$396,000 was not a small amount, and that the offences would result in a “serious custodial sentence”.

    In the case of Cypriot national Su Haijin, who was injured while allegedly evading arrest, DPP Ng Jean Ting asked for him to be remanded for eight days as the police had been unable to take statements from him for six to seven days.

    He was also slapped with a money laundering charge, which referenced about S$4 million in a UOB bank account gained through unlawful remote gambling.

    District Judge Brenda Tan granted the prosecution’s remand request, to make up for “lost time”. She also ordered for him to be moved to Changi Medical Centre upon discharge. He will return to court on Sep 13.

    DPP Ng noted that Su Haijin and another accused, Cambodian national Su Baolin, possibly have “close financial dealings” as they acquired assets together.

    These assets include two properties on Beach Road in Su Haijin’s name, worth S$2.2 million, as well as a yacht bought by both accused and two individuals, and registered to a fifth.

    The three other unnamed individuals left Singapore just before or soon after investigations began, said DPP Ng.

    These were revealed during the investigating officers’ separate investigations, as Su Baolin was “reticent” with providing information, said the prosecutor. Su Baolin claimed through a Mandarin interpreter that he had been cooperative.

    Su Baolin’s lawyer, Sunil Sudheesan of Quahe Woo & Palmer, argued that the possibility of collusion between Su Haijin and Su Baolin was overstated by the prosecution.

    He added that Su Baolin was not a flight risk, as his immediate family had settled in Singapore.

    Another person named in Su Baolin’s case was Wang Qiming, who is purported to be an ex-employee of Citibank. Su Baolin and Wang Qiming had allegedly worked together to forge a document to cheat Standard Chartered Bank.

    Wang Qiming has been under investigation since 2021, noted Sudheesan, but no charges have been levied against him.

    DPP Ng countered that the evidence of Wang Qiming and Su Baolin’s conspiracy related to this case was only recently revealed.

    A Citi spokesperson said the individual has not been employed by the bank since April 2022. “We do not comment on matters that are before the courts,” the spokesperson added.

    District Judge Tan denied bail to both Wang Baosen and Su Baolin, as she was satisfied there was a “real and high flight risk” in both cases, due to both accused having the means to abscond. Both will return to court on Oct 4.

    Turkish national Vang Shuiming is scheduled to return to court on Sep 14, after his High Court bid to be released on bail on Tuesday was dismissed.

    On Tuesday, it was found that he had around S$128.2 million parked with four financial institutions – Julius Baer, Credit Suisse, RHB and UOB Kay Hian. The sum has since been seized.

    He also had assets worth about S$200 million in Singapore, including four properties and three vehicles valued at around S$29 million collectively, S$962,000 in cash and 11 units in condominiums still under construction.

    These condominium units refer to 10 at Canninghill Piers in Clarke Quay and one at Park Nova on Tomlinson Road.

    Meanwhile, the remaining six accused will return to court on Oct 18 for bail review.

    Some lawyers made requests to allow the family members of the accused to visit or make phone calls. They were directed to write to the prosecution.

    One accused, Chinese national Zhang Ruijin, requested to see a psychiatrist, as he told the court he had anxiety and could only sleep one to two hours each night.

    “I feel pain all over my body,” he said in Mandarin.

    His counsel, Loo Choon Chiaw of Loo & Partners, said Zhang has clinical depression.

    District Judge Tan said he could seek medical help from the prison doctor, and further aid would be provided if needed.

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