Why Should I Invest in Canninghill Piers?
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.
CapitaLand is one of the largest developers in Asia and the world. They have commercial, industrial, residential, and retail properties in more than 220 cities and 30 countries. The majority of their assets are in Singapore and China. Their assets are worth over S$134.7 billion. CapitaLand also holds numerous awards and honors like Best Overall Investor Relations, Most Outstanding Real Estate Company in Singapore, Best Serviced Residence Brand, and more.
City Developments Limited
Ascott Residence Trust
ART is the biggest hospitality trust in the Asian Pacific region. Their assets total up to S$7.6 billion. They have over 16,000 units in over 39 cities across 15 countries. ART owns multiple brands for its properties. These brands include Somerset, Quest, Citadines, and Ascott The Residence. Some of their notable projects include Ascott Orchard Singapore and LYF One-North.