One Pearl Bank penthouse has been sold. It is now 100% sold
CapitaLand bought the Pearl Bank Apartments (a 99-year Leasehold) in an en-bloc deal worth $728 million back in February 2018. The company is building an even taller landmark on Pearl’s Hill than the former Pearl Bank Apartments.
One Pearl Bank’s 178m height will make it the tallest residence in the Outram Chinatown District in Central Singapore.
One Pearl Bank has achieved an average of $2,753 for its total sales. The units sold were within a range of $2430 to $3009 psf.
Singaporeans made up 76.8%. 16.4% of buyers were PRs. 6.8% were foreigners. In July of 2019, the project was launched. It took around 51 months to complete. The entire development or 160 units was sold at 25% during the launch.
One Pearl Bank has sold out, as evidenced by the recent sales of its final penthouse. The development includes four penthouses. The last one, a spacious 2,788 sf residence on the third floor, was sold at $7.1 million ($2,547 per sf).
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This penthouse’s buyer is a Singaporean. This reflects the strong domestic interest in this property.
The twin-39 story, 774 unit development is designed by Serie+Multiply. It’s a joint venture of London-based Serie Architects with Singapore-based Multiply Architects.
The curved front of the two buildings pays homage to original horseshoe form of the former Pearl Bank Apartments. This was Singapore’s tallest residential tower when it opened in 1976.
The project will be located just five minutes away from the Outram Park MRT Station. CapitaLand has built a shelter to guard against rainy weather.
Outram Park MRT Station is now an interchange station for the Thomson-East Coast Line, East-West Line, and North-East Line. This will increase accessibility.
CapitaLand presented J’den, a redevelopment JCube shopping mall into a new 40-storey building with commercial space in the first two levels and 368 residential apartments on the 38 uppermost floors. The showflat was visited by more than 7,500 people on the first weekend.