CapitaLand One Pearl Bank Review | Pearl Bank En Bloc

One Pearl Bank Review

CapitaLand New Launch

Former Pearl Bank Apartments En Bloc Site

Strong Response is Expected if Launch
One Pearl Bank Condo New Launch Sale

Singapore’s Chinatown which is known for its vibrancy is all set to welcome the latest jewel in its already impressive crown.

The latest jewel is a pearl with CapitaLand’s One Pearl Bank expected to open to bookings in July this year.

The developer recently unveiled the design of the 39-storey twin-tower would have 774 units and once completed would be the most desired address in Chinatown.

The apartment sizes would range between 430 sq ft and 2,800 sq ft and is expected to be completed by 2023.

Once completed the 178-metre tower will have the bragging rights of being Outram-Chinatown district’s tallest residential development replacing the 156 metre Pinnacle @ Duxton.

The 99-year leasehold development will be nestled amidst greenery where more than 500 trees and 135,000 shrubs will be planted across 60,000 sq ft of space which is close to three-fourth of the total land area at the property.

Mr Ronald Tay CapitaLand’s CEO for Singapore, Malaysia and Indonesia said that the Pearl’s Hill City Park which has been underutilized so far would also be rejuvenated during the course of development.

As One Pearl Bank Already Inside the Home Hunters Mind, Property Watchers Predicted That It Might Be One of The Best-Selling Projects In 2019 Launch

One Pearl Bank Phase 1 Launch Result

Great Success 80% SOLD

160 out of 200 Units at One Pearl Bank Picked Up at Weekend Launch

CapitaLand’s new launch One Pearl Bank saw a good take-up on its first launch.

The realty giant was able to sell 160 units out of the 200 units in the 99-year leasehold condominium.

The average price that the units sold stood at S$2,400 psf. This is 80% of the units that the group released in the first lot and 20.7% of the total 774 apartment units that is available at this 39-storey new launch condo.

According to insiders, one-bedroom and two-bedroom apartments accounted for majority of the bookings during the launch.

While 56% of the sales were for the one-bedroom units, the two-bedroom units accounted for 31% sale.

Other types of units that were launched during the weekend included three-bedroom apartments and studio apartments.

Among the buyers 80% were Singaporeans while the rest were bought by foreigners mostly from Malaysia, Indonesia and China.

One Pearl Bank Phase 1 Launch Result- Great Success 80% SOLD

CapitaLand offered a 1% early-bird discount to the homebuyers who booked on the first two days of the launch.

The starting price for units at One Pearl Bank is a shade below the S$1 million mark which is for the studio apartments.

Majority of the units at this development (more than two-thirds) have been priced lower than S$2 million.

The development comprises of studio units all the way up to penthouses. There are four penthouses and the largest is sized 2,788 square feet.

Booking for this much awaited property started on Saturday after its sales gallery were opened for the public the weekend before.

CEO of CapitaLand, Mr Ronald Tay was very happy with the response during the launch. He attributed the success to the demand for quality apartments in District 3.

He said that most home buyers look for lifestyle options, transport and amenities while buying a property and One Pearl Bank fulfils on all these counts.

He further added that the iconic status of the property and the amenities that are on offer would serve as an incentive for the homebuyers.

This project has come up on the site of erstwhile Pearl Bank Apartments and is scheduled to complete in 2023.

One Pearl Bank Design – Embracing The New

When the New Design Was Revealed By CapitaLand, it has Received Many Praise and Positive Feedbacks with Many Found the New Design “Airy, Bright and Open” and also Appreciated the “Futuristic, Modern Twist”

The 178-metre development’s curved façade is reminiscent of the cylindrical structure of Pearl Bank Apartments that stood in its place.

It has been designed by Serie+Multiply, the award-winning architecture firm with the highlight of the twin curved towers being the rooftop sky bridges connecting the two towers and allotment gardens on every 4 storeys.

Dr Christopher Lee, the architect behind this project said that the new design that replaced the iconic horseshoe shaped old apartment building is simple both in terms of its style and form.

Dr Lee added the inspiration behind this design was the depiction of a 10th century solitary temple by Li Cheng the famed Chinese painter.

He said the idea of punctuating elevated ground is centuries old and a high-rise was the best solution for a high-density plot such as this one.

While there have been protests from some quarters who wanted to save the iconic old structure the new structure imbibing the original architecture which some say would pacify people who have been protesting the loss of heritage in Chinatown. 

However, Dr Lee dismissed the notion that they had designed the new building to look like the old one. He said that the idea behind the design was to showcase progress and innovation that will drive people towards 21st century living.

The new design where they have done away the old wall slabs of the original structure is meant to make the overall structure light, spacious and airy.

Dr Lee also said that Singapore has always embraced newness and this is what this structure is all about embracing change.

According to him the new design will also revive the use of Pearl’s Hill City Park and add to its beauty.

As far the glittering point of the new design is concerned the architect feels it would be the shining halo that the towers become at night attracting maximum attention in Chinatown’s night skyline.

One Pearl Bank Main View
One Pearl bank Top View

One Pearl Bank is Situated Away from The Main Roads with Pearl’s Hill City Park Built at Their Back. Thus, the Future Residents Can Enjoy Tranquillity, Greenery and Beauty Around this Luxury Condominium.

One Pearl Bank Prime Location & Connectivity

Nestled in the Central Region the One Pearl Bank sits atop the Pearl Hill which offers amazing view of Chinatown and the city skyline

The integrated development would have sheltered link to the Outram Park MRT Station

Outram Mrt Interchange Station close to One Pearl Bank

3 MRT lines that Will Take You to All Important Parts of Singapore

East West Line

Key Areas

Tanjong Pagar Station 1 Stop to CBD Area East West Line
Raffles Place MRT Station East West Line
City Hall MRT Station East West Line

North East line 

Key Areas

HarbourFront MRT Station North East line
Chinatown MRT Station North East line
Clarke Quay MRT Station North East line

Thomson-East Coast Line 

Key Areas

Marina Bay MRT Station Thomson-East Coast Line
Orchard MRT Station Thomson-East Coast Line
Gardens by the Bay MRT Station

Nearby Expressways

Marina Coastal Expressway Nearby to One Pearl Bank
Ayer Rajah Expressway Nearby to One Pearl Bank

With Outram Park MRT Interchange close by, it will be very convenient for the residents at the property to easy access to the East-West and North-South Line and the Thompson East Coast Line which is expected to open in phases by the end of this year.

It will take only 6 minutes of drive or 3 stops (MRT) to reach Orchard Shopping District, one of Singapore most vibrant shopping district and only 8 minutes to the Central Business District or just 1 MRT stop.

Residents here will have easy access to the Marina Coastal Expressway (MCE) and the Ayer Rajah Expressway (AYE).

There are plenty of wonderful places around the condo that would let its future residents relax and socialize and they include Harbourfront, Resort World and Sentosa, Mega Mall VivoCity and the Southern Waterfront.

Other attractions nearby would be Chinatown, Clarke Quay, Raffles City, Marina Bay Sands and Gardens By the Bay. These places can reach easily with just few MRT stops or short drive only.

Prospective buyers at this condo would also be happy to hear about the rejuvenation of the City Park which has been included in the Draft Master Plan 2019 by the Urban Redevelopment Authority.

A playground and new social place would come up on the park for the community and it will also be liked by the Singapore River to the Fort Canning Park one of the biggest attractions in the vicinity.

For foodies there are plenty of options to dine near this condo. From trying out the best of international cuisine to indulging in the best of local good options are aplenty. These include Tanjong Pagar Market & Food Centre, Maxwell Food Centre, Amoy Street Food Centre and Chinatown Complex to name a few.

Several Schools Nearby

  • Manasseh Meyer School

  • Cantonment Primary School

  • Chatsworth International School

  • River Valley Primary School

  • Outram Secondary School

  • Zhangde Primary School

New Owners will have 1 Big Problem Which is…

Tons of Options, Tons of Choices for Shopping & Dining

Where to Shop, Where to Eat? Can’t Decide?

Chinatown Singapore Food & Shopping Paradise

Welcome to Chinatown Singapore

The Vibrant Commercial District & Popular Destination for Shoppers and Diners

Chinatown Restaurants 2
Chinatown Shops 2
Chinatown Restaurants

One Pearl Bank’s biggest USP is without doubt being part of the Chinatown District counted among the most vibrant commercial districts in Singapore.

What was once merely an enclave for the Chinese settlers in Singapore has transformed into a place that offers people a taste of the city’s cultural diversity.

The place is very popular among the locals and those visiting Singapore. From shopping to food, the options are aplenty in this place. The place has seamlessly blended the old and the new for the city and is a place that is as much popular among the older generation as it is among the millennial.

It has rich cultural heritage and where one can see Buddhism’s rich art in places like the Buddha Tooth Relic Temple & Museum and at the same time also enjoy the charms of nightlife in many of the bars that dot the famed food street.

On one side is the local street food that is relished by thousands every day and there is ample option of fine dining and Michelin-starred restaurant. If the daytime sees high decibel levels of Singapore’s hawkers by sundown the night owls take to the streets adding to the vibrancy.

Peoples Park Complex in Chinatown
Chinatown Shops
Peoples Park Market Within Chinatown

Pearl Bank En Bloc News

Pearl Bank En Bloc 2018 Sold for $728 million to CapitaLand

Pearl Bank Apartments En Bloc SOLD in 2018

CapitaLand Limited had acquired this property known as Pearl Bank Apartments back then in February 2018. It had bought it for the reserve price of S$728 million in a private treaty.

The owners of apartments whose unit sizes ranged between 1,323 sq ft and 3,993 sq ft had pocked S$1.8 million to S$4.9 million each in the collective sale.

The S$1,515 psf ppr was considered a good deal for the sellers given that it had only about 43 years remaining on its lease balance. The developers had to pay S$201.4 million as lease top-up premium for fresh 99-year lease tenure.

It is interesting to note that URA had introduced the Pre-Application Feasibility Study (PAFS) just months before the closure of Pearl Bank Apartments’ tender.

Back then the Chairman of the Collective Sale Committee Mr Alex Poh had stated this development to be a major setback which might have dented its prospects of inviting bids more than the reserve price.

Colliers International has been the marketing agent for this sale and had started the sale price to be good one for the owners.

Interestingly many owners had even contemplated saving the heritage property and restoring it but the enhanced cost of restoration had driven them towards selling it en bloc.

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