Latest Unit Sold: #04-03 on 06-February-2020| See the Balance Units Chart
Latest Unit Sold: #04-03 on 06-February-2020| See the Balance Units Chart
One Pearl Bank condo is developed by CapitaLand Limited. Capitaland Limited is an investment holding company that actively develops real estate, invests in real estate financial products and assets, provide real estate investment advisory and management services and runs serviced apartments.
The company’s portfolio is divergent across the different spectrum in real estate classes including commercial retail, business parks, integrated development, logistics and industrial, and residential.
Widely regarded internationally for the development of several iconic architectural masterpieces such as Interlace, D’leedon and Sky Habitat, One Pearl Bank is the most recent collaboration between CapitaLand and a world-renowned architect firm to develop a superb architectural paragon for the Singaporean skyline.
This upcoming residences is eponymously named after its location at No. 1 Pearl Bank. It also pays homage to its predecessor the former Pearl Bank Apartments. Aptly named so because the development, One Pearl Bank condo is to become the shining pearl in District 3, a popular district that is nearby the Core Central District, the heartbeat of Singapore.
Perched on a 21 meters hilltop located at the southern edge of Pearl’s Hill City Park, One Pearl Bank overlooks the Outram Park area, where a medical hub sits, the Tanjong Pagar financial and business hub, and Chinatown, a cultural center with many amenities.
The Outram Park MRT station is just 200 meters from One Pearl Bank. The Central Expressway (CTE) and Ayah Rajah Expressway (AYE) are two nearest expressways. Read on below to learn how One Pearl Bank condo is the best project that investors could get high returns for.
To replace the iconic Pearl Bank Apartments that Singaporeans are familiar with for 43 years, the joint venture of London’s Serie Architects and Singapore’s Multiply Architects needs an equally iconic design to replace the fondly remembered horseshoe Pearl Bank Apartments.
The award-winning architecture team came up with a unique idea of two curved 39-storey structures that are linked by sky bridges at the roof. The new architecture is fashioned with slender curving facades for a light and airy effect intended to provide sufficient space for residents and visitors to look through the towers and outwards where stunning views await on a hilltop.
One Pearl Bank’s design is also a world’s first residential building featuring 18 vertically arrayed sky allotment gardens along the edge of each tower. The allotment gardens provide close to 200 plots for urban farming. An Avante Garde concept for residents to connect with the natural environment right at home!
Reigning over its surrounding at 178 meters, One Pearl Bank condo is the tallest residential building in the Outram-Chinatown vicinity in Singapore’s central region. At a vantage point, One Pearl Bank curved architecture offers all-around views over the city fringe vicinity, Pearl’s Hill City Park’s greenery and the views are extended from the Central Business District and all the way to Sentosa island with some sea view tossed in for good measure.
One Pearl Bank condo is within a three-minute walk via a sheltered linkway to Outram Park MRT Station. The station is an interchange station that connects East-West Line with the North-East Line and the Thomson-East Coast Line that is coming in 2021.
Upon obtaining TOP on 31 Dec 2023, the proximity of One Pearl Bank to Outram Park MRT triple-lined interchange unlocks the tremendous benefit of unparalleled convenience and connectivity for One Pearl Bank’s residents and tenants. Access to three MRT lines easily places the One Pearl Bank to be in a location that achieves island-wide connectivity where many amenities are within one’s fingertips and one can arrive at her destination easily in comfort.
A reason why property prices appreciate is when there are upcoming transformations in the property’s vicinity. The recent 2019 URA Master Plan has highlighted the drive to intensify land use for residential purposes in Pearl’s Hill and People’s Park. With an awareness of the government’s intent to transform the place into a more pleasant and connected, investors of One Pearl Bank condo will consequently reap the first-mover advantage when enhancements in the surrounding area start to take shape.
There will be upcoming planned integrated development at Outram MRT interchange of new homes and amenities to provide attractive city living options according to the URA Master Plan in 2019.
A link will be created between Fort Canning Park and Pearl Hill’s City Park via the Singapore River for a well connected and more accessible social and leisure space to boost liveability.
The planned rejuvenation of Pearl Hill’s City Park into a transformed social and communal space elevates the quality of city living with plenty of lush greenery to indulge. There should be an increase in healthy demand by home seekers that desires the coveted city fringe location well connected with nature in a place like One Pearl Bank.
The nearby mixed-use development, People’s Park Centre at Upper Cross Street is attempting for an en bloc sale with a reserve price of $1.35 billion. As the possible first collective sale attempt in Chinatown, the future redevelopment of Chinatown hinges on this deal. If successful, the entire area should see an increase in property value.
According to Ronald Tay, CEO of CapitaLand, One Pearl Bank is targeted at urbanites who covets a home in a mature estate. The location of One Pearl Bank fit the needs of an urbanite’s lifestyle in 3 ways: 1) Excellent connectivity with public transportation; 2) Close proximity to a central business district workplace; and 3) A host of dining and entertainment readily available at Chinatown, Keong Saik, Tiong Bahru enclave, Fort Canning vicinity and the Civic Districts.
The strong location attributes at One Pearl Bank helps maintain a sustainable rental and resale demand pull-factor from urbanites who habitually commutes for work in the CBD and the Medical hub.
CapitaLand acquired Pearl Bank Apartments for $728 million at a collective sale on 13 February 2018 which translates to a land cost of S$1,515 per sq ft per gross floor area.
Prices start from under S$1 million for city-center apartments with panoramic views; tallest residential development in Singapore’s prime Outram district. With studio apartments (about 430 sqf) priced from S$1.0m and 1-bedroom/2-bedroom units from S$1.3m and S$1.9m respectively, CapitaLand is positioning for the development to reach out to a good mix of potential investors and families who are looking for a luxury home close to the Central Business District (CBD).
Latest Update: ONE Pearl Bank, the 99-year leasehold condo by CapitaLand, sold 160 units at an average price of S$2,400 per square feet (psf) over the launch weekend.
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Even as some members of the general public come to terms with the loss of the 38-storey horseshoe-shaped block, the new design, with its “clear and straightforward form”, ensures the continuity of a definite punctuator on Pearl’s Hill, said its architect, Dr Christopher Lee, in an interview with The Straits Times.
He noted that the tradition of punctuating an elevated ground goes back centuries. He cited the instance of 10th century Chinese painter Li Cheng’s masterpiece which depicts a solitary temple, perched on a hill and surrounded by a monumental mountain landscape.
Read more – One Pearl Bank as Beacon