Built on the site of the former CDLHT hotel Novotel Singapore Clarke Quay, Liang Court shopping mall and serviced apartment Somerset Liang Court Singapore, the 21-storey Moxy Singapore Clarke Quay is currently being built as part of CanningHill Piers, a mixed-use project by a joint venture between CapitaLand and City Developments.
CDLHT first announced the divestment of Novotel Singapore Clarke Quay to the developers in November 2019, when it also revealed a forward-purchase agreement for Moxy Singapore Clarke Quay.
CDLHT will pay the lower of either $475 million or 110% of development costs. With 475 rooms expected, this essentially works out to about “a million a key”, says Yeo in a media briefing for CDLHT’s results for FY2025 ended Dec 31, 2025.
According to Yeo, the average daily rate (ADR) of Moxy Singapore Clarke Quay will be “at least at the $250 mark” on a stabilised basis.
See also: REITs vs private funds? The more options, the better, says Cushman & Wakefield head
Moxy Singapore Clarke Quay will enter the market amid a slew of luxury hotel openings next year. According to CDLHT, the 808-room Mövenpick Singapore will open in 1Q2027 at Hoe Chiang Road near the CBD, followed by the 200-key Avani Singapore in Tanjong Pagar the following quarter.
CDLHT’s new hotel, however, is targeting a “mid-tier” or “upper-mid-scale” segment, according to its November 2019 filing.
See also: Sasseur REIT turns down offer by sponsor to acquire a mall in Xi'an
The filing also shows that room sizes at the Moxy Singapore Clarke Quay will range between 16.5 and 22.9 sqm, with the “majority expected to be around 16.5 to 17.5 sqm”.
Following the acquisition, CDLHT’s number of hotel rooms in Singapore will increase from 2,555 to 3,030. CDLHT currently owns six hotels in Singapore: Orchard Hotel, Grand Copthorne Waterfront Hotel, M Hotel, Copthorne King’s Hotel, Studio M Hotel and W Singapore – Sentosa Cove.
Photos: CDLHT
Read also:
CDLHT’s FY2025 DPS down by 9.8% y-o-y to 4.8 cents
Analysts upgrade CDLHT on strong FY2025 results; Citi unchanged at ‘sell’
