A ‘super penthouse’ in Singapore's Central Area sold for S$48 million
The unit is the sole penthouse at newly launched development CanningHill Piers. In total, the development recorded over S$1.18 billion in sales value during its launch weekend.
A ‘super penthouse’ measuring 8,956 sq ft in the Central Area of Singapore has sold for S$48 million, or S$5,360 psf.
The unit is the sole penthouse at CanningHill Piers, a project by City Developments Limited (CDL) and CapitaLand Development (CLD). Located on the 48th floor of the development, it boasts panoramic views of the city and the Singapore River. The buyer is believed to be a Singaporean businessman, EdgeProp reported.
The penthouse was among 538 units that were snapped up during CanningHill Piers' launch weekend. Sales of the project kicked off on Nov 20.
A total of 77 per cent of units were sold at an average selling price (ASP) of around S$3,000 psf, with total sales value of over S$1.18 billion. This makes CanningHill Piers the best-selling project launch in the Central Area this year.
Singaporeans made up 81 per cent of buyers, with the remaining 19 per cent comprising Permanent Residents and foreigners mainly from China, Malaysia, Indonesia, Australia, South Korea, the US, UK and others, the developers said in a press release.
CanningHill Piers is one of Singapore’s most anticipated project launches this year. Designed by Danish architecture firm Bjarke Ingels Group (BIG), the project’s facade is draped in a geometric lattice that unifies the entire integrated development with a sculptural form.
The 48-storey residential tower facing the riverside will be the tallest residential development along the Singapore River, while the 24-storey residential tower overlooks Fort Canning Hill. The two towers are connected by a sky bridge on Level 24, which will also feature an infinity pool.
Residents at CanningHill Piers will enjoy easy access via a direct link to Fort Canning MRT station. Clarke Quay MRT station is a short walk away.
Units come in a wide range of sizes from 409 sq ft for a one-bedroom, 1,313 sq ft for a three-bedroom premium to 2,788 sq ft for a five-bedroom premium. All unit types were well-received, with selected stacks fully sold.
“We are heartened by the overwhelming response and the phenomenal success during this launch weekend,” said Sherman Kwek, group chief executive officer of CDL. “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.”
Jason Leow, chief executive officer of CapitaLand Development, attributed strong sales to the project’s “distinctive design”. “We are confident that the project’s iconic status, well-appointed homes and excellent connectivity will continue to attract robust interest from prospective homebuyers," Leow said.
CanningHill Piers is a redevelopment of the former Liang Court. Scheduled for completion in 2025, it is part of an integrated development that includes CanningHill Square mall with F&B and retail outlets, a 475-room hotel and a 192-unit serviced residence.