The Canninghill Piers project is a joint development by CapitaLand & City Developments Limited. The serviced condominium will be operated under a hotel licence by Ascott Residence Trust (Ascott Reit).
Originally, CapitaLand and City Developments Limited (CDL) were the owners. Ascott Reit joined ownership later.
They have shared the assets of the new Canninghill Piers among themselves. CDL and CapitaLand share the commercial and residential units equally (50:50). On the other hand, Ascott Reit will own the serviced apartments and a hotel license.
Both CapitaLand and CDL are major real estate developers from Singapore with local and global projects.