In the world of real estate, there is always a demand. A common trend that is beginning to appear in real estate is the use of mixing work and residential places into one. This appeals to many people especially younger people. General articles are discussing the upcoming plans for Liang Court. There are plans in the work to revitalize Liang Court. Liang Court will become a modern place for hotel lodging, residential and commercial uses in the mixed use development plans that have been proposed.
Liang Court is a shopping mall and commercial area located on the Singapore River. The proposed plans for Liang Court do not only include the shopping mall. The Liang Court site will be completely transformed. The site will be transformed into a site including commercial spaces, housing for residents and a hotel. The completion of this project will be carried out by real estate investment companies known to invest in developments of this scale.
Three major real estate giants are joining forces to transform Liang Court into a completely different development. The end goal for Liang Court is to undergo massive changes. Liang Court will ultimately be redeveloped into a mixed use development. CapitaLand, Ascott Residence Trust and CDL are coming together with their real estate expertise and resources to take on this development project.
Liang Court has a mall, hotel and residence building. In the end this development will consist of one hundred thousand square feet. This will be a major project that has caused the investors to fund millions of dollars to turn Liang Court into a mixed use complex. The end result will consist of a development that has both a commercial and residential component to it. There will be a total of seven hundred residential units. A midscale hotel will have between 460 and 475 rooms. There will also be a 192 room building that has a hotel license. A project of this scale takes time to develop. Opening phases will begin in 2024. The new hotel is proposed to open in 2025.
The serviced residence of 192 rooms will cost an estimated three hundred million dollars. This hotel development is already facing competition from other brands. Currently, the hotel is not as modern as surrounding local competitors. A mission for this redevelopment is to aid the aging hotel to attract customers back to the business. The developers have a mission to use this hotel as an attraction for the site by modernizing it. This redevelopment will not solely update the hotel. Overall, Liang Court’s updates will transform the community with vibrancy. This development is believed to increase foot traffic and be a pedestrian friendly development for the commercial businesses.
At a time when retail is struggling this project that is costing hundreds of millions of dollars is surely needed. The retail industry is struggling to compete with the rise of online shopping. In addition, retailers are competing with other retailers due to a decrease in foot traffic and in-store sales. The redevelopment of Liang Court will allow the shopping mall to become a contender in competing with the competition from online shopping and other physical retailers. The redevelopment of this shopping mall will hopefully attract a younger audience. Creating a mix between commercial and residential offerings at Liang Court will offer the opportunity for people to become residents where they shop. Having an updated hotel will also hopefully lead to less competition amongst other more modern establishments. Having a hotel will also make this site a destination for travelers. More travelers can bring in revenue for the shops and commercial businesses on the site.
The real estate giants joining forces together are not new to collaboration. These giants have partnered before. Additionally, these giants have invested in other similar type projects. With the amount of experience and credibility CapitaLand, Ascott Residence Trust and CDL offer these companies are bound to launch a successful real estate project. This redevelopment project will be massive in time, resources and capital. There is eager excitement for the final result of what this real estate site will look like. Locals, workers and the media will be watching over the next few years as Liang Court under goes its transformation.