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

It provides a one-stop lifestyle with a wide range of amenities. Its facilities include a sky lounge, indoor gym, and swimming pool. It’s also placed in a strategic location for easy access to nearby shopping malls, Shopping Centre, and market centres. Tengah Executive Condominium is a great development for those who desire to stay in an eco-friendly, yet luxurious living space.

One Pearl Bank, the award-winning two-tower development by CapitaLand, recently achieved full take-up of its 774 apartments. Featuring four penthouse units, the 38th-floor residence was sold for $7.1 million, or $2,547 psf. Domestic buyers showed a predominant interest in the property, with the latest penthouse unit sold to a Singaporean.

Cuvilative transactions of all the penthouse units at One Pearl Bank demonstrate the project’s popularity. As part of a 99-year leasehold purchase deal in February 2018, CapitaLand purchased the former Pearl Bank Apartments and are in the process of creating a new landmark development. Once complete, the twin-tower 178m high building will be the tallest residential dwelling in the Outram-Chinatown district of the Central area of Singapore.

The project’s excellent accessibility is made possible with a sheltered walkway to the nearby Outram Park MRT Station, which serves as an interchange between the North East, East-West and the Thomson-East Coast Lines.

At the launch of One Pearl Bank back in July 2019, the apartments attracted over 25% of the intended buyers. Spanning a price range of $2,430 to $3,009 psf, an average price of $2,753 was achieved with Singaporean buyers making up the main demographic at 76.8% and Permanent Residents (PR) at 16.4%. A minor portion (6.8%) were accounted for by foreign nationals.

Buying activity at One Pearl Bank continues as CapitaLand also recently previewed the redevelopment of the JCube mall into a 40-storey tower, aptly named J’Den. Adorned with commercial space on the first two floors and 368 apartments on the uppermost 38 floors, the showflat drew an interest of more than 7,000 visitors on its first weekend.

One Pearl Bank’s success serves as yet another example of CapitaLand’s popularity among the Singaporean public. With an impressive record for developing high quality, accessible properties, over 50 months it is the en bloc sales record for the fastest sold out development in Singapore.