Last One Pearl Bank’s penthouse sold, development hits 100% sale

One Pearl Bank, CapitaLand’s award-winning development, has been fully sold, with its last penthouse unit recently being sold for $7.1 million (or $2,547 psf). This generous 2,788 sq ft spread is situated on the 38th level and has been bought by a Singaporean – mirroring the mostly local consumer interest in One Pearl Bank.

The twin-tower 774-unit project, located atop Pearl’s Hill, is designed by S+M joint venture Serie+Multiply, composed of London-based Serie Architects and Singapore-based Multiply Architects. The curved façade pays homage to the iconic former Pearl Bank Apartments, standing as the tallest residential tower in Singapore when it was completed in 1976.

Situated just five minutes away from the upcoming Outram Park MRT Station, CapitaLand have attached a sheltered walkway to shield residents from inclement weather. The station acts as an interchange to the North East, East-West, and the Thomson-East Coast Lines. In total, One Pearl Bank achieved an average price of $2,753 psf and a range from $2,430 to $3,009 psf, with Singaporeans making up 76.8%, PRs at 16.4%, and foreign nationals 6.8%.

CapitaLand purchased the former 99-year leasehold Pearl Bank Apartments in 2018 for $728 million, replacing it with a new 178m tall residential tower in the Outram-Chinatown district in Singapore’s Central area. Buyers flocked early on, with One Pearl Bank selling 25% (160 units) of the project during its July 2019 launch weekend – resulting in full sell out within four years (51 months).

The thriving response to One Pearl Bank is indicative of CapitaLand’s growing success. The developer has recently previewed J’den – a 40-storey tower with commercial spaces on the first two stories and 368 apartments above – to an impressive 7,000 visitors during its public preview.

For those interested in other CapitaLand properties, the latest listings for One Pearl Bank properties can be viewed online.

One Pearl Bank, CapitaLand’s award-winning development, has seen a successful sell out marked by a Singaporean buyer purchasing the last penthouse unit for $7.1 million (or $2,547 psf), signifying the predominantly domestic interest in the property.

The twin-tower 774-unit development, perched atop Pearl’s Hill, is designed by S+M joint venture Serie+Multiply with its curved façade paying homage to the original Pearl Bank Apartments. Located five minutes from the interchanging Outram Park MRT Station, residents are greeted with a sheltered walkway upon arrival.

Across the entire project, One Pearl Bank achieved an average sale price of $2,753 psf and a range from $2,430 to $3,009 psf. Of the buyers, 76.8% were Singaporean, 16.4% Permanent Residents and 6.8% foreign nationals. Following its July 2019 launch, 160 units (25%) were sold within the weekend and the entire project sold within the impressive span of four years (51 months).

Residents of Zion Road Condo can enjoy the convenience of a wide selection of amenities nearby. The condo is surrounded by several shopping malls and eateries, with EHub and Sheng Siong Supermarket a mere 5-minute walk away. There are also several popular schools located in the vicinity.

A testament to its success, CapitaLand have previewed their newest project J’den – which drew an impressive 7,000 visitors during its public preview – to much anticipation. For those looking to be part of CapitaLand’s successful developments, keep up to date with the latest listings for One Pearl Bank properties online.