It was only 11:30 am on a Saturday (July 13), but there was already a buzz at the sales gallery of CapitaLand’s One Pearl Bank, a redevelopment of the former Pearl Bank Apartments. Opened for its first day of public viewing, it drew a 2,300-strong crowd, according to estimates from CapitaLand. One Pearl Bank will be launching on July 20.
On July 15, CapitaLand announced that a total of 4,000 prospective homebuyers showed up for the weekend preview.
“The good turnout was largely expected,” says Eugene Lim, key executive officer at ERA Realty. As a “reimagination of one of Singapore’s most iconic sites with all the design features of a new, modern landmark, [One Pearl Bank] is in a class of its own.”
He adds that “keen interest” can be seen from “owner-occupiers and investors.”
Targeted for completion in 2023, One Pearl Bank will comprise 774 units ranging from 431 sq ft studios to 2,788 sq ft penthouses. Indicative prices for a 431 sq ft studio unit start from $970,000 ($2,251 psf).
Mirroring the design of Pearl Bank Apartments, the new design comprises two 39-storey towers, curved and linked at the roofs by sky bridges. At 178 metres tall, One Pearl Bank will be the tallest residential development in the Outram-Chinatown district in Central Singapore, with views that extend from the CBD to Sentosa, says CapitaLand. With the advantage of Pearl Hill’s sloped topography, the two residential towers will be elevated 21 metres above ground.
The new development will be a six-minute walk from Outram MRT Interchange on the North-East Line, East-West Line, and the upcoming Thomson-East Coast Line.
The sales gallery will be opened daily. Visitors will be able to head up to level 28 of the old Pearl Bank Apartments to get a feel of the view. That would be the view for residents living on the 18th floor of the redeveloped One Pearl Bank.
One Pearl Bank is jointly marketed by ERA Realty and Huttons Asia.