City Developments Limited (CDL), CapitaLand Limited and Ascott Residence Trust (Ascott Reit - a member of CapitaLand) have teamed up to redevelop the Liang Court site into an integrated development. It is targeted to open in phases from 2024.
Subject to approval from the relevant authorities, the proposed development with a total gross floor area of 100,263 sq m will comprise two residential towers offering around 700 apartment units, a commercial component, a hotel and a serviced residence with a hotel licence.
Upon completion, the 50:50 CDL-CapitaLand joint venture entities will own the residential and commercial components while Ascott Reit will own the 192-unit serviced residence with a hotel licence. CDL Hospitality Trusts (CDLHT) will own the hotel, which will have about 460 to 475 rooms.
The consortium also plans to rejuvenate the river promenade flanking the property - in line with Singapore’s Draft Master Plan 2019 by the Urban Redevelopment Authority to enhance the area’s vibrancy. This is expected to generate social activities around the new development, increase footfall and improve pedestrian accessibility along the Singapore River.
The Singapore River planning area is a vibrant local and international icon – home to a myriad of cultural, heritage and lifestyle offerings. Situated in the heart of Clarke Quay – Singapore’s most popular riverfront lifestyle and entertainment precinct – and on the fringe of Singapore’s Central Business District, the proposed development is linked to the Central Expressway via River Valley Road.
“With multiple frontages, breathtaking views and convenient access to Fort Canning MRT Station, the Liang Court site has outstanding locational attributes for an integrated development comprising residential, commercial, hotel and serviced residence components. By harnessing the strengths and capabilities of all the partners involved, we plan to transform the site into an iconic landmark along the Singapore River,” said Sherman Kwek, group CEO of CDL.
“The commercial component of the integrated development will be seamlessly connected to Clarke Quay, offering residents the convenience of top-notch F&B and retail offerings right on their doorstep,” said Jason Leow, president for Singapore & International at CapitaLand Group. “Drawing on CapitaLand’s extensive experience in creating award-winning integrated developments, we will harness our partnership with CDL to shape the property into a fresh focal point along the Singapore River for local and international visitors of all ages.”
The redevelopment of Liang Court marks another collaboration between CDL and CapitaLand following last year’s successful joint bid to develop a commercial and residential site in Sengkang Central atop Buangkok MRT station.