A Bold Move By City Developments Limited and CapitaLand
The iconic 403-room Novotel Singapore Clarke Quay along the historical stretch of Clarke Quay river is all set to be re-imagined. In late November 2019, CapitaLand, City Developments Limited, Ascott Reit announced their plans to redevelop Liang Court into mixed-use project.
The hotel will be sold to a consortium led by City Developments Limited and CapitaLand. The Liang Court site for redevelopment together with the Novotel Singapore Clarke Quay is priced at SGD 375.9 million (approx. USD 275.6 million). The group also plans to make an up-to-$475 million forward purchase of a new hotel that will be part of the new integrated development. In addition, CDLHT said it will also purchase W Singapore hotel at Sentosa Cove for SGD 324 million (approx. USD 238 million). Situated at River Valley Road, the site offers a gross floor area (GFA) of 34,909 square metres with a lease expiring on 1 May 2077. In fact, just across the other side sits Boat Quay – a historical site developed in 1823; wherein its heyday witnessed immense commerce and trade where warehouses and godowns would be filled with goods up-river, in fact, along the banks of Clarke Quay and Robertson Quay.
Subject to approval from Singapore’s authorities, the Liang Court site will be turned into an integrated development with total GFA of 100,263 square metres. Life will be more enlivened once the integrated development materialises; it will offer something for everyone all thanks to a raft of retail, lifestyle, F&B, hospitality, and entertainment options. Read more about what to do in the Clarke Quay and Robertson Quay area here.