538 out of 696 CanningHill Piers units were sold over its launch weekend on 20 to 21 Nov 2021, including its $48 million penthouse. Source: CDL
CanningHill Piers along River Valley Road sold 538 units, or 77% of its 696 units, at an average selling price of about $3,000 per sq ft (psf) during its launch over the weekend.
This includes its sole penthouse unit, which spans 8,956 sq ft and offers panoramic views of the city and the Singapore River. The penthouse unit was snapped for $48 million or $5,360 psf.
With this, the project achieved a total sales of over $1.18 billion as of 6.00pm on Sunday (21 November).
Singaporeans accounted for 81% of the buyers, while the remaining 19% were permanent residents and foreigners from mainly China, Indonesia, Malaysia, Australia, South Korea, the UK and the US, said CanningHill Piers’ joint developers City Developments Limited (CDL) and CapitaLand Development.
Units at the development ranged in size from 409 sq ft for a one-bedder, 1,313 sq ft for a three-bedroom premium unit to 2,788 sq ft for a five-bedder.
All unit types were well-received, with selected stacks fully sold, said the developers.
“We are heartened by the overwhelming response and the phenomenal success during this launch weekend. The positive take-up is a testament to the combined strength of both CDL and our JV partner, CapitaLand,” said CDL Group CEO Sherman Kwek.
“Encouraged by the trust and confidence that buyers have placed in us, we are excited to bring our vision of this architectural icon to fruition,” he shared.
“As the tallest residential development along the Singapore River, 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.”
Meanwhile, CapitaLand Development CEO Jason Leow is confident that “the project’s iconic status, well-appointed homes and excellent connectivity will continue to attract robust interest from prospective homebuyers”.
Set to be completed in 2025, CanningHill Piers forms part of an integrated development that includes a 475-room hotel, a 192-unit serviced residence as well as CanningHill Square that comes with food and beverage (F&B) and retail outlets.
The CanningHill Piers sales gallery is located along Merchant Road and is open daily from 10.00am to 7.00pm, by appointment only.
Looking for a property in Singapore? Visit PropertyGuru’s Listings, Project Reviews and Guides.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
