Canninghill Square Integrated Development Condo at River Valley Road
Liang Court Canninghill Square preview was constructed by Wuthelam Group in 1980. Goh Cheng Lia, a businessman, owns the property. The address of this property is 177 River Valley Road. It has several service apartments. The space is being shared with Liang Court Shopping Centre, and Hotel New Otani.
Pidemco Land purchased a 58.9% share of Liang Court Holdings, and in 1999 took over the regency apartments as well as the mall. After its takeover, the company was renamed Somerset Holdings. After one year, the Ascott group was formed from Somerset Holdings’ Ascott and DBS Lands Ascott. In 2006, they sold the Liang Court Mall to Asian Retial Mall Fund II.
Liang Court’s complex ownership history demonstrates its potential. PGIM Real Estate is the current owner of this property. They have entered into an agreement with City Developments and CapitaLand to sell it for $400 million. Canninghill Square will be the new development and CDL will be its developer.
Ascott Residence Trust and CDL Hospitality Trust have already acquired the Novotel and service residence. It is possible that these developers will develop the site together.
The Liang Court has been established in a prime location. There are many towering buildings, including Fort Canning Park, that surround the area. The property provides incredible opportunities for its residents. There are many establishments in the area, including Funan Mall, Victoria Theatre and Excelsior Shopping Centre, Robertson Walk, Robertson Walk, and Amped Trampoline park at River Valley. You can find outdoor entertainment options like Esplanade Park and the Singapore cricket club right around the corner. This is a great place to escape the hustle and bustle of city life.
It is easy to connect with neighboring areas via convenient transportation options. It is easy to reach MRT stations such as Clarke Quay MRT, City hall MRT, and Fort Canning MRT.
Another advantage of this location are the many renowned schools that are located in the nearby area. Nanyang Institute of Management is just a stones throw away. International schools like Asia Pacific International Academy can be found just a few metres away. They provide better education and are known for their high standards.
The Liang Court will be converted into a mixed-use building. After approval by authorities, the gross floor area will be 100.263 square meters. The proposed new site will include a commercial complex, service apartments and a hotel. CDL and CapitaLand will jointly own 700 units of the commercial and residential parts of the development.
In line with the 2019 Draft Master Plan of URA, the area’s vibrancy will increase. This will increase pedestrian and football access near the Singapore River.
It is expected that the first phase of the redevelopment project will begin in 2024. Ascott Reit will join the new redevelopment project, according to the joint declaration of CapitaLand and CDL. It will sell parts to Somerset Liang Court.