Liang Court was built in 1980 by developer Wuthelam Group which is owned by the businessman Goh Cheng Lia. This property is addressed at 177 River Valley Road. It includes several service apartments and is shared by a space that is proposed to be Liang Court Shopping Centre and Hotel New Otani.
The switching of this EN Bloc to several owners including Pidemco Land bought 58.9% stake of Liang Court Holdings and took ownership of the regency apartments and the mall in 1999. The company was renamed to Somerset Holdings upon its takeover. After a year, a union between Somerset Holdings and DBS Land’s Ascott known as Ascott group emerged. They sold the Liang Court Mall in 2006 which was bought by Asian Retial Mall Fund II.
The complex ownership history of Liang Court proves its high potential. The present owner of this property is PGIM Real Estate, which entered an agreement with City Developments (CDL) and CapitaLand for a $400 million sale. The new development will be called Canninghill Square and the developer is CDL
The Ascott Residence Trust and CDL Hospitality Trust has already owned the service residence and Novotel, & there might be a joint development from these developers for the site.
The Liang Court is established in an ideal area. The place has different towering buildings surrounded by greenery including the Fort Canning Park. This property offers amazing opportunities to its residential locality. It has a long list of establishments including the Amped Trampoline Park at River Valley, Funan Mall, Victoria Theatre, Excelsior Shopping Centre, Robertson Walk and many more. Outdoor entertainment facilities like Singapore cricket club and Esplanade Park are around the corner. It offers an excellent environment to break the busy vibes of city life.
The area offers convenient transportation modes for connectivity with the neighboring districts. MRT stations like City hall MRT, Clarke Quay MRT and Fort Canning MRT are easily reachable.
Another great feature of this location is the availability of renowned schools in the neighboring area. Schools like Nanyang Institute of Management are just a stone’s throw away. To ensure better standards, international schools such as Asia Pacific International Academy are just a few meters away.
The Liang Court is planned to be redeveloped into a mixed-used building. The gross floor area is measured to be 100,263 square meters upon the approval of authorities. The suggested new site will consist of a commercial complex, service residences and a hotel. This joint venture of CDL and CapitaLand will make them the owners of commercial and residential part of the development that will be comprised of 700 units.
The vibrancy of area will also boost up in line for the URA’s 2019 Draft Master Plan. This will improve the pedestrian and football accessibility near the Singapore River.
The redevelopment project is expected to start its first phase in the year of 2024. According to the declared joint statement of CDL and CapitaLand this new redevelopment project will be joined by Ascott Reit, which will sell a few of its parts in Somerset Liang Court.