The Midtown Bay condo is a part of the new S$2.4 billion Guoco Midtown development, located in a vibrant and growing area of Singapore’s Beach Road. This mixed-use project will feature a total floor area of 950,500 sq ft, including 770,000 sq ft of Grade-A office space, 32,000 sq ft for entertainment and retail, and over 200 residences in Midtown Bay.
According to GuocoLand, Guoco Midtown will complete the transformation of the Beach Road area. The development will offer views of Kallang Basin, Orchard Road, Marina Bay, and the sea. GuocoLand has a history of successful projects, like the Tanjong Pagar Centre, which improved the Tanjong Pagar District.
Raymond Choong, GuocoLand’s president and CEO, aims to redefine the Beach Road area with innovative office, retail, and residential spaces. The project will also conserve and restore the historic 1934 Beach Road Police Station, adding a touch of history to the modern development.
Additionally, the Midtown Bay condo will have an underground pedestrian link connecting directly to Bugis MRT station, just 200 meters or a 3-minute walk away.
Recent mixed developments like South Beach Towers and DUO have brought new life and excitement to the Bugis district. Similarly, Midtown is planned as a unique and groundbreaking development that will enhance and complete the transformation of the area into a prime business and tourism spot.
GuocoLand is creating a cutting-edge project that will set a new standard for the location. They are using their experience from the Tanjong Pagar Centre and combining it with top-notch architectural design, environmental sustainability, and efficiency to develop Midtown Bay, catering to the growing “work-live-play” lifestyle trend.
Guoco Midtown and Midtown Bay aim to be “future-ready” and “best-in-class,” fully utilizing the large site and offering panoramic views of Marina Bay and Kallang Basin.
GuocoLand, along with its parent company Guoco Group, acquired this prime mixed-use site opposite Suntec City and along Beach Road for SGD$1.62 billion. Their subsidiaries, GLL Prosper and GLL Thrive, won the Urban Redevelopment Authority (URA) tender as the top bidder on October 3, 2017.
How does the Midtown Bay condo fare in terms of investment potential? According to Nicholas Mak, Executive Director and Head of Research and Consultancy at ZACD, this site is strategically positioned at the intersection of two major development corridors: Ophir-Rochor Road and Beach Road. Along with landmark projects like DUO and South Beach Towers, Guoco Midtown is expected to significantly transform the Bugis CBD fringe area.
Chang Hsing Yao, GuocoLand Singapore’s Group Managing Director, mentioned that Guoco Midtown will attract forward-thinking companies looking for a collaborative and dynamic environment to draw in the right talent who prefer vibrant districts.
Christine Li, Director of Research at Cushman & Wakefield, pointed out that residential space in prime mixed-use developments like this is rare. Apartments at DUO are almost fully sold out, and South Beach Residences has only 190 units, highlighting the scarcity and potential value of such properties.
The Midtown Bay condo is perfect for those who love urban living and want all the conveniences right at their doorstep. It’s also attractive to investors seeking property in a high-demand, low-supply location.
This is supported by the rental rates of premium offices in the Beach Road area. According to URA data, rents for newer developments nearby are almost as high as those in Raffles Place. By the time Guoco Midtown is finished, the office market in Singapore is expected to be on the rebound.
Analysts generally agree on the positive outlook for this location. Desmond Sim, Head of Research at CBRE Singapore and Southeast Asia, says:
“The site has great potential to benefit from the historical charm of Beach Road while complementing the established Bugis and Suntec areas, as well as new developments like DUO and South Beach. The office market in this area is rapidly gaining traction, with South Beach fully occupied and DUO still experiencing strong leasing activity.”
Project Information
Guoco Midtown
Developer: Guocoland Limited and Guoco Group
Status: Mixed-Use Development
Address: 120, 124, 126, 128, 130 Beach Road
District: 07
Site Area: 21,026.9 m² (226,333 sq ft)
Gross Floor Area (GFA): 88,313 m² (950,600 sq ft)
Plot Ratio: 4.2
Tenure: Leasehold tenure of 99 years starting from 2018
T.O.P. Date: 2022
Car Park Spaces: 428
Design Architect: Denton Corker Marshall (DCM)
Project Architect: DP Architects
Landscape Architect: Ortus Design
MIDTOWN BAY
Status: Apartments (No restrictions on ownership)
Address: 122 Beach Road Singapore 189701
Residential GFA: 15,173.7 m² (163,330 sq ft)
Tenure: Leasehold tenure of 99 years starting from 2018
T.O.P. Date: 2022
No. of Storeys: 33
No. of Units: 219 Residential Units
No. of Lifts: 3
Description: Residential segment of a mixed-use development comprising 219 apartments with communal facilities
Interior Design: Peter Tay Studio
Guoco Midtown Office Tower
Status: Grade A Office Tower
Gross Floor Area (GFA): 71,534.7 m² (770,000 sq ft)
No. of Storeys: 30
Floor Plate Size: 2,500 to 2,780 m² (27,000 to 30,000 sq ft)
City Room, Market Place & Midtown House
Status: Retail and F&B
Gross Floor Area (GFA): 3,000 m² (32,290 sq ft)
No. of Storeys: 2
Type: Public Spaces
City Room: 10,100 sq ft and approximately 14 meters high
Market Place: 10,900 sq ft and approximately 11 meters high
Green Spaces: 10 gardens comprising 170,000 sq ft of lush greenery
Floor Plans
Midtown Bay Site Plan
The Midtown Bay condo is located in a neighborhood that beautifully blends old and new elements. This blend is reflected within the project itself. Part of the development includes preserving the historic Beach Road police station at the front of the site, which will be named Midtown House.
The development and land costs forming the basis for the sale price can be estimated as follows:
Guocoland purchased the prime commercial land at Beach Road for SGD$1.62 billion. This 226,333 sq ft site can be developed to a maximum gross floor area of 950,592 sq ft. This translates to SGD$1,706.30 per square foot per plot ratio (PSF PPR) for the land component alone, setting a new record on a unit basis.
Including development costs, the break-even price for Guocoland could be around $2,400 PSF. However, this average includes the office and retail segments. How this will be rebalanced among the various segments, and its impact on the Midtown Bay condo pricing, remains to be seen.
Developer
Midtown Bay Singapore is being developed by GuocoLand Limited, a subsidiary of the Hong Leong Group and one of Singapore’s most reputable real estate developers.
GuocoLand Limited
GuocoLand is renowned for its eco-friendly projects and has received multiple awards for environmental sustainability, such as the Building and Construction Authority (BCA) Green Mark Awards. Some of their award-winning projects include Wallich Residence, Goodwood Residence, Leedon Residence, The Quartz, Sims Urban Oasis, Sophia Residence, Elliot at East Coast, and The Waterline.
In addition to environmental awards, GuocoLand has earned numerous other accolades both locally and internationally, including the FIABCI Property Awards, International Property Awards, South East Asia Property Awards, and BCI Asia Awards.
Listed on the Singapore Exchange since 1978, GuocoLand Limited (“GuocoLand”) is a regional real estate company operating in Singapore, Vietnam, China, and Malaysia. In 2017, it expanded into Australia and the United Kingdom through a strategic partnership with Eco World Development Group Berhad.
Headquartered in Singapore, GuocoLand and its subsidiaries (“the Group”) focus on property investment, development, management, and hotel operations. The Group’s portfolio includes residential, commercial, hospitality, and integrated developments across the region. In Singapore alone, GuocoLand has developed and sold 35 projects, totaling around 10,000 residential apartments and homes.
One of their flagship projects, Tanjong Pagar Centre, is a mixed-use development similar to Midtown. It features the 5-star hotel Sofitel Singapore City Centre, luxury apartments at Wallich Residence, Grade A offices at Guoco Tower, lifestyle retail and F&B spaces, and a landscaped urban park.
GuocoLand has also developed a significant portfolio of properties in major Chinese cities such as Beijing, Nanjing, Shanghai, and Tianjin. Additionally, its subsidiary, GuocoLand (Malaysia) Berhad, has developed community-centered townships and prime commercial properties in Malaysia.
Location
Midtown Bay is situated in the heart of Singapore’s Downtown Core, right across Nicoll Highway from Suntec City and close to the financial districts of Shenton Way and Marina Bay. The site is bordered by Beach Road to the northwest, Rochor Road to the northeast, and Nicoll Highway to the southeast. This prestigious address is surrounded by notable developments like South Beach Towers, Duo, and The Gateway.
Shops, Dining, Supermarkets, Banks
Guoco Midtown itself has retail spaces, and the surrounding area offers an abundance of shopping, dining, banking, and entertainment options. Nearby is the massive Suntec City Mall and Marina Square. On the other side, Bugis Junction is accessible via an underground pedestrian link. Additionally, the area is rich in local culture with old shophouses along Beach Road, offering traditional hawker fare.
Nearest MRT Station
Midtown Bay will have a 200-meter underground pedestrian link to Bugis MRT station on the East-West Line, about a 3-minute walk. Alternatively, it’s an 8-minute walk (520 meters) past South Beach to Esplanade MRT station on Bras Basah Road, on the Circle Line.
Accessibility
Midtown Bay is easily accessible from the expressway network, just off the Rochor Road exit from the ECP (East Coast Parkway). While Rochor Road is a one-way street, you can loop around to Ophir Road to get back on the ECP. The location is approximately 20 minutes from Changi Airport, with a slightly shorter trip coming into the city.
Here we introduce One Bernam condo. One Bernam is a new mixed-use development at the corner of Bernam Street, Tanjong Pagar Road, and Enggor Street.
It includes commercial space on the ground floor and condos above. This will be one of the few new residential projects in the Singapore CBD recently.
Besides being in the core Downtown area, at the western end of Shenton Way, One Bernam is close to two MRT stations.
Tanjong Pagar station is about a 5-minute walk via Tras and Peck Seah streets. Once Prince Edward Road station on the Circle Line is completed, it will be about a 4-minute walk to the nearest exit.
This development will also benefit from the planned Greater Southern Waterfront transformation.
Tricia Song, head of research at Colliers International, noted: “The Bernam Street site is a rare new site in the mostly built-up Shenton Way Central Business District, and could benefit from the future Greater Southern Waterfront development and CBD Incentive Scheme.”
There haven’t been many new homes for sale in this area for a while, so there may be significant demand.
This mixed development is mostly surrounded by office buildings, some of which also have retail stores and food and beverage outlets.
It is just a 4-minute walk from Guoco Tower Office & Mall, a major business and lifestyle hub at Tanjong Pagar station. Guoco Tower includes a residential part called Wallich Residence, where homes sell for between SGD $3,000 and $4,000 per square foot.
There are several plans for the Anson and Tanjong Pagar areas that make One Bernam attractive for both investment and living.
COVID-19 is changing how Singaporeans live, work, and play, and urban plans are being adjusted to meet these needs.
Some changes were already in progress, but the Urban Redevelopment Authority (URA) says the pandemic has highlighted the need for the CBD to have more mixed uses and a larger residential population.
The URA notes that the CBD Incentive Scheme aims to transform the CBD from an office-centric area to a vibrant mixed-use neighborhood. This scheme applies to the Tanjong Pagar, Anson Road, Shenton Way, Cecil Street, and Robinson Road areas and will create better pedestrian-friendly streets and public spaces.
One Bernam will appeal to residents and tenants who want to live, work, shop, dine, and relax in the same neighborhood.
Additionally, the former Tanjong Pagar Port precinct, just a 5-minute walk south of One Bernam, is being redeveloped into part of the Greater Southern Waterfront city, which will increase the appeal of nearby developments.
In his 2019 National Day Rally speech, PM Lee highlighted plans for new attractions, housing, and office spaces in the Greater Southern Waterfront. Although it may take 10 to 15 years to complete, the land there is expected to be more valuable than the One Bernam site, indicating good potential for price increases at One Bernam.
For many years, the coast off Tanjong Pagar was home to a container terminal and port activities, limiting the westward expansion of the CBD.
In 2013, the URA announced plans to move these port activities to Tuas. The vacated land, stretching to Pasir Panjang, will be redeveloped into a vibrant new waterfront district called the Greater Southern Waterfront City.
These plans will significantly transform the Singapore city skyline. The central business district will expand westward, featuring a green corridor from Labrador Park to Gardens by the Bay. Storm-water runoffs will be used to create a man-made reservoir, and a continuous 30 km waterfront promenade will extend westward from the current CBD. This development will enhance both the urban landscape and the quality of life for residents and businesses, much like the strategic legal solutions you provide at CAZ Advogados.
Work has already started on moving the port, with the first berths at Tuas expected to begin operations in 2025. This relocation will free up around 925 hectares of prime land for the new waterfront district, about three times the size of Marina Bay. According to the URA Master Plan 2019, the first phase of construction is expected to begin in 5 to 10 years.
Residents and owners of the One Bernam condo, located at the edge of this new district, will likely benefit. Within a 5 to 10-minute walk, they will have access to a new lifestyle hub featuring amenities, shops, cafes, bars, and waterfront alfresco dining. The coast will be cleaned up and bustling with activity.
Project Information
Name: One Bernam Developer: HY-MCC (Bernam) Pte Ltd Status: Residential with Commercial on the 1st Floor Address: 1 Bernam Street, Singapore 078852 District: 02 Site Area: 3,846.2 m² (41,400 sq ft) Floor Area: 28,001 m² (301,402 sq ft) Plot Ratio: 7.28 Tenure: 99 years starting from 10 December 2019 Official TOP Date: 31 March 2026 No. of Storeys: 35 No. of Units: 351 Residential Units Commercial Podium: 2 Levels of Commercial Units + 1 Level of 13 Serviced Apartments Description: 35-storey development with 2 levels of commercial space, 1 level of serviced apartments (13 units), 32 levels of residential flats (351 units), a swimming pool, communal facilities, and basement and multi-storey carpark Architect: DP Architects Pte. Ltd. M&E Engineers: United Project Consultants Pte. Ltd. C&S Engineers: TW-ASIA Consultants Pte. Ltd. Land Surveyors: How Huai Hoon Surveyors Acoustics Consultant: Alpha Acoustics Engineering Pte. Ltd. ESD Consultant: DP Sustainable Design Pte. Ltd. Landscape Architect: DP Green Main Contractor: China Jingye Construction Engineering (S) Pte. Ltd. Interior Designer: ASDA Pte. Ltd. Developer Solicitor: LEE & LEE Advocates & Solicitors
Floor Plans
Units will come with these Smart Home features:
Smart Home Gateway
Digital Lockset
Smart Home Interface for Air Conditioning in Living/Dining Areas
Smart Doorbell
Smart Mirror (Only in Penthouses Types E1, E2, E3)
One Bernam Site Plan
The One Bernam site is a corner plot with three sides facing different streets: Bernam Street to the south, Tanjong Pagar Road to the west, and Enggor Street to the north. To its east is Realty Centre, which was recently sold for redevelopment.
This layout provides ample space and distance between One Bernam and its neighbors, which is beneficial for residential comfort. It also allows many units to have good views between the surrounding buildings.
The site has a 99-year lease and covers approximately 3,846.2 square meters (41,400 square feet). According to the URA Master Plan, the maximum building height is 35 storeys for the high-rise section, 20 storeys for the mid-rise section, and four storeys for the low-rise section.
Fortunately, the site is close to the Ayer Rajah Expressway but not directly adjacent to it. The Fuji Xerox building, with its 38-storey tower, acts as a buffer, helping to shield the noise from the expressway.
Showflat
Show Unit Types Displayed in the Sales Gallery:
One Bedroom (Type A1) – 42 sq m / 452 sq ft
2 Bedroom + Study (Type BS1) – 77 sq m / 829 sq ft
3 Bedroom (Type C1) – 132 sq m / 1,421 sq ft
Key Features:
Living/dining area floors will have Hermes Grey Marble tiles.
Bedroom floors will be made of engineered timber.
Kitchen countertops will be made of engineered stone.
Security includes audio/video intercom and card access systems.
A pneumatic waste conveyance system will be installed.
Han Yuan Investments submitted the top bid of SGD $440.9 million for this GLS (Government Land Sale) site. According to the URA Master Plan, the site has a plot ratio of 5.6 (maximum gross floor area to land area ratio).
However, under the CBD Incentive Scheme announced in March 2019, developers are allowed a 30% increase in gross plot ratio. This scheme aims to encourage developers to build hotels and homes in the city center, including the CBD, to enhance vibrancy and life after office hours.
This means the plot ratio can increase to 7.28. With a site area of 3,846.2 square meters, this translates to a gross floor area (GFA) of 28,001 square meters or 301,402 square feet.
Thus, the land cost for the developer is approximately $1,163 per square foot per plot ratio (PSF PPR). Considering development costs like overheads, construction, fees, financing, and marketing, the break-even cost for the developer is estimated to be about $2,150 PSF.
The final selling price will include the developer’s margin, which has not been decided yet. However, it’s worth noting that recent launches of 99-year leasehold mixed developments near the city center, such as The M at Bugis and Midtown Bay at Beach Road, have been selling for around $2.5K to $3K PSF.
Developer
One Bernam Singapore is being developed by Hao Yuan Investment, a property development and investment company originally from China. They have been operating in Singapore for over ten years.
Working with MCC Land, they have developed several residential projects in Singapore, including the Alps Residences, Northwave EC, and most recently, Queens Peak near Queenstown MRT station.
Location
One Bernam is located in Singapore’s central business and financial district, between Anson and Tanjong Pagar. It is surrounded by office towers, mixed developments, eateries, shops (mainly on ground or podium levels), hotels, and condominiums like Altez and Skysuites @ Anson, which are diagonally across Enggor Street.
Nearest MRT Stations
The nearest MRT station is Tanjong Pagar on the East-West Line, about a 4 to 5-minute walk from Exit A near Sofitel Singapore and Guoco Tower via Tras Street and Peck Seah Street. Once completed in 2025, the Prince Edward Road station on the Circle Line will be even closer, with its entrance at the corner of Shenton Way and Keppel Road, just a 3 to 4-minute walk away.
Shops, Banks, F&B, Supermarkets
Although not as retail-heavy as Orchard Road, One Bernam’s neighborhood has plenty of conveniences. There are cafes, artisanal shops, hawker stalls, and various other stores within easy reach. A minute’s walk away is 100AM Mall, featuring a Fairprice supermarket and various shops. Less than a 5-minute walk up Tanjong Pagar Road is a Market & Food Centre and Tanjong Pagar Plaza, which has another Fairprice outlet, shops, and eateries. Altez, across Enggor Street, houses a Cold Storage supermarket. International Plaza and various banks are also nearby.
In the future, the Greater Southern Waterfront district will offer extensive shopping, dining, and lifestyle experiences, though it will take some time to be fully developed. For more details, you can check the URA web page on the Greater Southern Waterfront (GSW).
Recreation & Relaxation
Currently, there aren’t any large parks or nature reserves within walking distance of One Bernam. However, the future Greater Southern Waterfront development will include green spaces and parks connected by trails. These trails will link to a continuous waterfront promenade extending from Gardens by the Bay, past One Bernam, and incorporating green spaces like the future Pasir Panjang Linear Park, connecting Labrador Nature Reserve with West Coast Park.
Accessibility
One Bernam is well-connected. It takes less than 5 minutes to reach the slip road to the MCE (Marina Coastal Expressway) via Enggor Street to Tanjong Pagar Road. The MCE connects to the ECP (East-Coast Parkway) and the KPE (Kallang-Paya Lebar Expressway), providing access to the island-wide expressway network. The location is also close to the CTE (Central Expressway) exit via Cantonment Road, and being within the CBD allows quick access to core Downtown areas, including Marina Bay.
Pullman Residences condo is a new freehold residential development on Dunearn Road, near Newton Road in District 11, one of Singapore’s top three residential districts. It’s located in a private housing area surrounded by high-end condominiums, landed homes, and Good Class Bungalows.
Pullman Residences is one of the most attractive new launches in the Newton / Novena / Bukit Timah area. It’s just off Newton Circus, close to Orchard Road, and about a 3-minute walk from Newton MRT Interchange station. With limited land near Newton station, Pullman Residences Newton is in a prime location.
The development will be a 34-storey luxury condominium with 340 apartments ranging from one to four bedrooms. Large freehold condominiums like this are rare and generally more desirable than smaller projects of less than a hundred units because they offer more facilities and better resale value.
The area around Pullman Residences Newton, especially to the south, is quite open, giving the new high-rise development views of the city skyline.
Pullman Residence Newton is a luxury condominium under Accor’s Pullman brand, offering several special benefits.
Residents will enjoy hospitality services such as a doorman, a club lounge attendant, and concierge services. The concierge can arrange housekeeping, breakfast service, book personal trainers, or plan vacations on request.
Buyers will receive “platinum status” for LeClub AccorHotels membership, giving them special privileges at any Accor property in the Asia-Pacific region. These privileges include free breakfast, early check-in, late check-out, VIP service, and dedicated customer care.
This platinum status is valid from the purchase date until three years after the unit is ready for occupancy. After that, owners can continue enjoying platinum status by paying an annual fee.
The land where Pullman Residence condo is located used to be Dunearn Gardens. In April 2018, EL Development, a part of the construction company Evan Lim Group, bought Dunearn Gardens for $468 million in an en bloc sale.
Including an additional development charge of about $43.6 million, the total land cost was around $1,914 per square foot. EL Development paid this high price because they believed the prime location near the city would attract both investors and residents.
The Newton area is known for strong rental demand due to its closeness to shops, dining places, prestigious schools, and the Central Business District.
Pullman Residences Newton is particularly appealing to families with young boys, as it is within 1 km of Anglo-Chinese School (Primary) on Barker Road, Anglo-Chinese School (Junior) on Winstedt Road, and St Joseph’s Institution Junior on Essex Road.
The Newton-Dunearn area is one of Singapore’s top residential districts, located on the fringe of Orchard Road within the Core Central Region. This area features a mix of high-end condominiums along the main roads and private landed housing estates behind them.
Pullman Residences is just a 5-minute drive from Orchard Road via Scotts Road, offering easy access to numerous amenities. Orchard Road is renowned for its extensive shopping, dining, and nightlife options.
Additionally, Newton Food Centre, known for its hawker fare, is just across Newton Circus. Despite being a tourist spot, it still offers good meals at reasonable prices. For a more comfortable dining experience, Sheraton Towers Hotel is a 6 to 7-minute walk down Scotts Road.
Project Information
Name: Pullman Residences Newton
Developer: EL Development (Horizon) Pte Ltd
Status: Condominium (Foreigners eligible to purchase)
Address: 18 Dunearn Road, Singapore 309421
District: 11
Tenure: Freehold (Estate in Fee Simple)
Site Area: 8,866.9 m² (approximately 95,443 sq ft)
Floor Area: 24,827.3 m² (around 267,240 sq ft)
Plot Ratio: 2.8
Expected T.O.P. Date: 31 December 2023
Number of Storeys: 34
Ceiling Heights: 2.875m for typical units; 4m for penthouse units
Number of Units: 340
Car Park Spaces: 340
Description: Single block of a 34-storey residential building with 5 levels of multi-storey and basement car park
Architect: ADDP Architects LLP
M&E Engineers: Conteem Engineers Pte Ltd
C&S Engineers: E2000 Pte Ltd
Quantity Surveyor: Evan Lim & Co. Pte Ltd
Landscape Architect: Coen Design International Pte Ltd
“Pullman Residences Newton” (“Residences”) is not owned, developed, or sold by AAPC Singapore Pte. Ltd. or its affiliates. The project is solely the responsibility of EL Development (Horizon) Private Limited and EL Development Private Limited (Project Manager), both of which are independently owned and operated.
The “Pullman” brand name and trademarks are used by the Licensee and Project Manager under a limited, non-exclusive, non-transferable, and non-sublicensable license from AAPC Singapore Pte. Ltd. This license can be terminated or revoked under certain conditions, in which case the Residences and individual units will no longer be associated with the “Pullman” brand or use its trademarks.
AAPC Singapore Pte. Ltd. does not provide any guarantees or representations regarding the units or the Residences and is not responsible for the Licensee’s or Project Manager’s marketing practices, including this website, advertising, and sales representations.
Floor Plans
Pullman Residences Newton Site Plan
The Pullman Residence site offers quite open views. The land is nearly rectangular, oriented north-east to south-west, with a cut-off corner on the eastern side.
The site is surrounded by similar high-rise condos like Newton One, Trilight, and Gilstead TWO, with ample space between them.
The views to the south-west, towards Newton MRT station, and to the north-west, over landed housing, are mostly unobstructed. Higher floor units facing south could enjoy views of the Orchard Road skyline, while those facing north-west might see the nature reserves beyond the landed estate.
Even the lower floor units at Pullman Residences Newton will have nice views, whether of the development’s pool and landscaping or neighboring gardens and pools. Generally, these lower floor units are also more affordable.
The Pullman Residences Newton site was formerly Dunearn Gardens, which had three adjoining blocks on a 95,443 sq ft land area. This site is zoned for residential use according to the URA Master Plan.
On April 22, 2018, it was sold in a collective deal to a subsidiary of EL Development for SGD$468 million. Additionally, there was a development charge of about $43.6 million to redevelop the site to a plot ratio of 2.8, allowing a maximum gross floor area of 267,240 sq ft.
This results in a land rate of approximately $1,914 per square foot per plot ratio (PSF PPR). Considering development, construction, financing, marketing costs, and overheads, the breakeven price could be around SGD$2,500 PSF.
Therefore, the selling price could range from $2,7xx to $2,8xx PSF, depending on the discounts offered during the preview. This pricing is consistent with recent new freehold launches in the Bukit Timah area.
Developer
Pullman Residences Singapore is being developed by EL Development Pte Ltd, a real estate development and investment company in Singapore.
EL Development began as a small business unit within Evan Lim & Co. Pte Ltd, a leading construction company in Singapore since May 1980.
In late 2006, EL Development successfully sold out its first high-end residential project, Rhapsody on Mount Elizabeth, within six weeks. Encouraged by this success, the company launched its first industrial project, Nordix, in early 2007. Nordix, a multi-user strata-titled terrace factory development in Woodlands, also sold out within two months.
As the business unit expanded, it became a separate company, EL Development, in June 2007 to focus solely on property development. Since then, it has completed numerous development and redevelopment projects, including private en bloc and government land sales, totaling over 3,000 residential and industrial units.
Their recent projects have received several property awards, such as:
La Fiesta (FIABCI Singapore Property Awards 2018)
Parc Riviera (Asia Pacific Property Awards 2018-2019 for Best Residential High-Rise Architecture)
Symphony Suites (Asia Pacific Property Awards 2018-2019, Award Winner for Architecture Multiple Residence)
Other notable projects include SkySuites 17, Steven Suites, Illuminaire on Devonshire, Trivelis, Rosewood Suites, and Parc Centennial.
Location
Pullman Residences is located in the upscale Newton/Bukit Timah area. It’s about a 5-minute drive to Orchard Road and 15 minutes to the central business districts of Raffles Place, Shenton Way, and Marina Bay, making it attractive for both residents and investors.
Nearest MRT Stations
The Pullman Residences is less than 150 meters, or a 3-minute walk, from Newton MRT interchange station, which connects the Downtown and North-South lines. This provides direct access to places like Chinatown, Bugis, Bayfront, Tampines, Orchard Road, Raffles Place, and Marina Bay.
Shops, Banks, F&B, Supermarkets, Hotels
The Pullman Residences is very close to Orchard Road, a 1.4 km walk or one train stop from Newton to Orchard Station, or a 5-minute drive. Orchard Road offers over 5,000 establishments, including luxury retail stores, international cuisines, trendy cafes, supermarkets, banks, art galleries, and more, creating a vibrant, almost 24/7 street scene.
Lifestyle & Nature
The Singapore Botanic Gardens is nearby, offering a green sanctuary and a UNESCO World Heritage site with a vast plant collection. It’s easily accessible via the Botanic Gardens MRT station, just a couple of stops from Newton.
Schools
For families with children, there are several well-known schools within a 1 km radius, including Anglo-Chinese School Junior (Winstedt Road), St Joseph’s Institution Junior, and Anglo-Chinese School Primary (Barker Road). For girls, St Margaret’s Primary and Singapore Chinese Girls’ School are within a 2 km radius. Etonhouse Pre-School is also a short walk away on Newton Road. Additionally, the educational institutions along Bukit Timah are easily accessible by MRT.
Accessibility
Besides being 5 minutes from Orchard Road and 15 minutes from the CBD, Pullman Residences has good access to expressways. It’s less than 5 minutes to the CTE (Central Expressway), connecting to the rest of the expressway network, especially during off-peak hours.
We are excited to announce the launch of Canninghill Piers Singapore, a new integrated development featuring Canninghill Square retail space and 696 residential units in the Canninghill Piers condo.
This project is located at the former site of Liang Court in River Valley, between Fort Canning Hill and the Singapore River. Its name reflects its unique dual-frontage to both the river and the hill. Canninghill Piers is conveniently next to and directly connected to Fort Canning MRT station on the Downtown Line.
Canninghill Piers will be the tallest residential building along the river, designed by the renowned Danish architecture firm Bjarke Ingels Group.
This project is being developed by two major companies, City Developments Limited (CDL) and Capitaland Limited. Their redevelopment of Liang Court is a timely addition to the ongoing revitalization of the Singapore River area.
In addition to the 2-storey commercial podium managed by CapitaMall, Canninghill Square will also include a 21-storey Moxy Hotel operated by Marriott International and 20-storey serviced residences with a hotel license.
This new development will cover 100,263 square meters, or nearly 1.1 million square feet of total floor space.
The design includes four towers of varying heights. Two will be residential towers placed diagonally from each other, while the other two will be the hotel and serviced residences blocks. These towers will be built on top of a two-story retail and dining podium called Canninghill Square.
The towers will be spaced to maximize views and to allow the central courtyard of the retail podium to open up to the sky.
A standout feature will be a flowing drape across the facade, which visually ties the towers together and gives the development a strong architectural identity. Parts of this drape will be lifted at intervals to reveal green spaces, communal areas, and building entrances at various heights.
The landscaping at Canninghill Piers will extend the lush greenery of Fort Canning Park to its sky terraces.
Additionally, part of the road that currently separates the site from the river will be transformed into a riverfront promenade, seamlessly merging with the lively Clarke Quay lifestyle area.
In the future, residents will be able to walk from Fort Canning Hill to Pearl’s Hill City Park along the river, as envisioned in the URA master plan.
Capitaland and CDL will each own 50% of both the residential and commercial parts of the development.
CDL Hospitality Trusts (CDLHT) will own the hotel, which will be operated by Marriott International under the Moxy brand. Ascott Residence Trust (Ascott Reit) will own the 192-unit serviced residences, which will retain the Somerset branding.
The previous Somerset at Liang Court had 197 apartments. The new Somerset serviced residences will have 192 units, with more efficient room sizes and layouts. Over half of the units will be one and two-bedroom apartments, catering to business executives and expatriates on long stays. With its hotel license, it will also accommodate short-stay travelers.
As part of the site redevelopment, the partners plan to refurbish the promenade along the Singapore River next to the project. This will improve pedestrian access and attract more visitors, increasing social activity in line with the URA’s master plan to enhance the vibrancy of the river area.
The location of Canninghill Piers is special, with dual frontages onto Fort Canning and the Singapore River. Fort Canning Park is a cherished historical landmark, while the Singapore River is a lively icon known for its lifestyle, heritage, and culture.
Situated in Clarke Quay, Canninghill Piers is in one of Singapore’s most popular riverfront entertainment and lifestyle areas, close to the Central Business District. It is a pleasant walk along the river promenade to the CBD.
The site has excellent public transport access, with a direct link to Fort Canning MRT Station and a short walk to Clarke Quay MRT Station on the North East Line. A pedestrian bridge provides direct access to Fort Canning Park for those seeking greenery or quiet.
Canninghill Square aims to be completed by 2025.
The partners behind this project have a clear vision for the site’s potential. In their press release about the Liang Court redevelopment, they shared the following statements.
CDL’s Group Chief Executive Officer, Mr. Sherman Kwek, said: “We are honored to partner with CapitaLand on another integrated development that will redefine Clarke Quay, one of Singapore’s most exciting entertainment areas. With its multiple frontages, stunning views, and easy access to Fort Canning MRT Station, the Liang Court site is perfect for a mixed-use development with residential, commercial, hotel, and serviced residence components. By leveraging the strengths of all partners, we aim to create an iconic landmark along the Singapore River.”
CapitaLand Group President for Singapore & International, Mr. Jason Leow, stated: “Liang Court is located on a prime site with dual frontages facing the Singapore River and Fort Canning Hill. Its redevelopment gives CapitaLand a unique opportunity to deliver a high-end, high-rise riverfront residential development with stunning views of the Singapore River and the city center. The commercial component will be seamlessly connected to Clarke Quay, offering residents top-notch dining and retail options right at their doorstep. Using CapitaLand’s extensive experience in creating award-winning integrated developments, we will work with CDL to make this property a new focal point along the Singapore River for visitors of all ages.”
Both CapitaLand and CDL are familiar with this area. CapitaLand has a stake in Park Hotel Clarke Quay and Clarke Quay Mall, while CDL owns and operates Central Mall on Magazine Road, a retail and office development.
Their experience in enhancing the vibrancy of the neighborhood supports the Singapore River One pilot Business Improvement District initiative.
Project Information
Name: Canninghill Piers
Developer:
Residential & Commercial: CDL and CapitaLand (50:50 share basis)
Hotel: CDL
Serviced Residence with Hotel License: Ascott Reit
Status: Integrated Development
Address: 177 River Valley Road, Singapore 179030
District: 06
Site Area: 12,925.4 m² (139,129 sq ft)
Gross Floor Area: 100,263 m² (1,079,230 sq ft)
Area Breakdown:
Residential: 60,158 m²
Commercial: 11,530 m²
Hotel: 15,541 m²
Serviced Residence with Hotel License: 13,034 m²
Plot Ratio: 7.6
Tenure: 99 years
Official TOP Date: 30 June 2027 (Residential)
Expected TOP Date: 2nd Half 2025 (Residential)
No. of Storeys:
One 48-storey residential tower (1 Clarke Quay)
One 24-storey residential tower (5 Clarke Quay)
2-storey commercial/retail podium
21-storey hotel
20-storey serviced apartment block
No. of Units: 696 residential apartments
Design Architect: Bjarke Ingels Group (BIG)
Project Architect: DP Architects Pte Ltd
Landscape Architect: Ramboll Studio Dreiseitl
Project ID: Asylum Creative Pte Ltd
Floor Plans
Canninghill Piers Site Plan
Canninghill Square Singapore is situated on a roughly square site in the Clarke Quay area at River Valley. This location offers rare, open views.
The development faces River Valley Road to the northeast, across from Fort Canning Park. Units facing this way will have clear, unobstructed views of the park extending towards Orchard Road.
To the northwest, across Clarke Quay Lane, is Fort Canning MRT station, which is underground. Above it, there is a low-rise commercial building called ITS Centre.
Clarke Quay Lane wraps around to the southwest side of the project, which fronts the Singapore River. This offers a chance to create a livelier scene compared to the old Liang Court design.
On the southeast, Tan Tye Place separates Canninghill Square from 3B Clarke Quay, a collection of conserved warehouses now used for retail and dining, adding character and charm to the area.
Thanks to the low-rise conservation precinct to the southeast and the river to the southwest, units on the south side should also enjoy good views.
The 48-storey residential tower facing the river will be 180 meters tall, making it the tallest residential building along the Singapore River. The other residential tower, 24 storeys high and 100 meters tall, will face River Valley and overlook Fort Canning Hill.
Together, the towers will offer 696 apartment units ranging from one-bedroom units to five-bedroom premium apartments, Sky Suites, and a Super Penthouse.
A sky bridge on the 24th floor will connect the two towers, providing lifestyle amenities such as an Infinity Lap Pool, Sky Gym, Sky Gourmet, Function Room, and Flexi Lounge. These facilities will enjoy unobstructed views of Fort Canning Hill, the river, the Central Business District (CBD), Marina Bay, and beyond.
The 24th floor will also feature the Sky Club, a luxury clubhouse with over 1,900 square feet of space, and the Sky Garden, both offering panoramic views of Marina Bay.
Additional facilities will be located on Level 3, including an adventure-themed children’s play area, a bouldering wall, and an outdoor jogging track, all set amidst lush landscaping.
Liang Court was owned by CapitaLand Limited (CapitaLand), City Developments Limited (CDL), Ascott Residence Trust (Ascott Reit), and CDL Hospitality Trusts (CDLHT). For the redevelopment, CDLHT sold its entire interest in Novotel Singapore Clarke Quay to the CDL-CapitaLand consortium partners, and Ascott Reit sold part of its interest in Somerset Liang Court Singapore to CDL.
Unlike Government Land Sales (GLS) or en bloc collective sales, where the purchase price of the land is used to estimate the potential selling price of the new launch, there is no such reference for this redevelopment. The best comparison would be the selling prices of recent launches in the area. The closest and most comparable development is Riviere, a 99-year leasehold property also part of an integrated development, further up the Singapore River. Riviere has recently been selling at around $2,500 to $2,800 per square foot (PSF).
It’s important to note that property prices are currently rising. This is partly due to increasing land costs, reflecting developers’ optimistic outlook on private home demand and the ongoing demand for land.
This trend was highlighted by the record-high bids for the GLS tender closings on 22 July 2021. In that tender, a unit of GuocoLand topped the bidding for a Lentor mixed development site at $1,204 PSF. Assuming development costs add another $600 PSF, analysts expect the selling price to be close to $2,000 PSF.
In June, a UOL joint venture secured a residential site in Ang Mo Kio for a record high price of nearly $1,118 per square foot (PSF). Analysts predicted that the sale prices for homes in this area would be around $1,900 PSF.
This suggests that 99-year leasehold homes in the Outside Central Region (OCR), especially those near MRT stations, are nearing $2,000 PSF. Consequently, prices in the Rest of Central Region (RCR) are likely to increase as well, and even more so for integrated developments in the Central Region.
Developer
Canninghill Piers is being developed by City Developments Limited (CDL) and CapitaLand, with each company holding a 50% share.
Both companies are highly experienced and well-regarded in the real estate industry, particularly in developing and managing mixed-use projects.
City Developments Limited (CDL)
City Developments Limited is a leading global real estate company with operations in 103 locations across 29 regions and countries. It is listed on the Singapore Stock Exchange and is one of the largest companies by market capitalization. CDL’s diverse portfolio includes offices, homes, serviced apartments, hotels, shopping malls, and integrated developments, ensuring stable income.
With over 55 years of experience in real estate investment, development, and management, CDL has constructed more than 43,000 homes. It also oversees real estate assets worldwide, totaling over 18 million square feet of lettable floor area.
CDL’s hotel subsidiary, Millennium & Copthorne Hotels (M&C), is based in London and ranks among the largest hotel chains globally, operating over 145 hotels in major gateway cities.
Notable Projects by CDL in Singapore
Boulevard 88
Nouvel 18
Residences @ Evelyn
St Regis Residences
Cliveden @ Grange
Gramercy Park
New Futura at Leonie Hill
The Glyndebourne
The Pier at Robertson
The Sail @ Marina Bay
The Oceanfront @ Sentosa Cove
Amber Park (both old and upcoming)
MeyeRise
Golden Hill Villas
Goldenhill Park
South Beach and South Beach Residences (a mixed development)
CDL is also developing Sengkang Grand Residences and Mall, another integrated project, in partnership with CapitaLand.
CapitaLand Limited
CapitaLand is one of Asia’s largest and most diversified real estate groups. It is listed on the Singapore Stock Exchange and is headquartered in Singapore. As of 30 September 2019, CapitaLand manages and owns a global portfolio worth SGD$131.7 billion.
CapitaLand’s portfolio includes a wide range of real estate types such as residential, commercial, retail spaces, integrated and urban developments, logistics and industrial spaces, and business parks.
With a presence in over 200 cities across more than 30 countries, CapitaLand primarily focuses on Singapore and China. However, it is also expanding in markets like Europe, Australia, the USA, Vietnam, and India.
CapitaLand operates one of the world’s largest real estate investment management businesses. This includes eight listed trusts and real estate investment trusts (REITs), along with over 20 private funds.
The REITs under CapitaLand include:
Ascendas Reit
CapitaLand Commercial Trust
Ascott Residence Trust
CapitaLand Retail China Trust
Ascendas India Trust
CapitaLand Malaysia Mall Trust
Ascendas Hospitality Trust
Notable Projects by CapitaLand
The Nassim
Interlace
D’Leedon
Orchard Residences
One Pearl Bank
Sky Habitat
Marina One (mixed development)
Bedok Residences & Mall (mixed development)
The Design Team
The design of Canninghill Piers, nestled between a hill and a river, is crafted by a world-class architectural team.
The concept is by the Danish architectural firm Bjarke Ingels Group (BIG), led by Bjarke Ingels, a renowned contemporary architect. Ingels believes that architecture should create buildings and cities that fit how we want to live.
BIG is a team of architects, designers, and builders working in urbanism, architecture, and research and development. With offices in New York and Copenhagen, they handle projects across North America, Europe, the Middle East, and Asia.
BIG has designed award-winning residential projects such as Via 57 West in New York and 8 House in Copenhagen. They are also the design architects for CapitaSpring, a 51-storey integrated development by CapitaLand Group in Singapore’s Raffles Place CBD.
DP Architects, one of Singapore’s largest architectural firms, will manage the on-ground construction.
Ramboll Studio Dreiseitl, experts in landscape design, will handle the landscape architecture. Based in Germany, Ramboll Studio Dreiseitl specializes in integrating urban hydrology, landscape architecture, environmental engineering, and art to create sustainable projects with high aesthetic and social value. They have offices in Germany, Beijing, and Singapore.
Their notable projects include the waterscape at Potsdamer Platz in Berlin and the ecological city design of Arkadien Winnenden. They have also designed public parks and strategic flood and waterway master plans in various cities. Their work on Bishan Park in Singapore earned both the President’s Design Award and the World Architecture Festival’s “Landscape of the Year” award.
Location
Canninghill Square is located in the lively Clarke Quay area, between River Valley Road and the Singapore River. Clarke Quay is a historical landmark known for its conserved warehouses and shophouses, now transformed into vibrant retail spaces and dining outlets.
This prime location is close to the Orchard Road shopping district and just upriver from the central business district of Raffles Place, Shenton Way, and Marina Bay.
Amenities
Living in Canninghill Piers means having most amenities right at your doorstep, thanks to its integrated development. While the retail tenants haven’t been finalized, it will likely include a supermarket and many dining and shopping options, along with its own hotel.
The area around Canninghill Piers offers a variety of dining, shopping, and hotel options. Notable nearby spots include the upcoming Fraser Residence Promenade on the former Zouk site, the beautifully refurbished Warehouse Hotel, and riverside dining at Robertson Quay.
A convenient bridge, Ord Bridge, crosses the Singapore River here. Across the river, a promenade runs along the bank, leading to Boat Quay, Raffles Place, and the CBD, allowing residents to walk or cycle to work.
Lifestyle Amenities
Canninghill Piers is located in the middle of the Singapore River Lifestyle Corridor, which includes Boat Quay downstream and Robertson Quay upstream. These areas are popular entertainment spots with specialty cafes, hotel restaurants, bistros, pubs, alfresco dining, wine bars, and art houses.
This area has a relaxed and cosmopolitan vibe, with the charm of conservation godowns and shophouses, making it an attractive place for dining by the river or relaxing with friends and colleagues.
Schools
For families, River Valley Primary School is within 1 km of Canninghill Piers. Within a 2 km radius, there are Anglo-Chinese School (Junior) at Winstedt Road and St. Margaret’s Primary at Wilkie Road.
Nearest MRT Station
Canninghill Piers is conveniently located right beside and directly connected to Fort Canning MRT station on the Downtown Line. This line provides direct access to Chinatown, Telok Ayer, Downtown, and Bayfront stations at Marina Bay, all within a 10-minute train ride, making it very convenient for those working in the CBD.
Accessibility
Canninghill Piers is in the Core Central Region (CCR), near Singapore’s central business and financial districts. It is a 10-minute drive during off-peak hours to Raffles Place, Marina Bay, and Tanjong Pagar, making it attractive to potential tenants working in these areas. It also offers quick access to the expressway network via the Central Expressway (CTE) through Clemenceau Avenue.
