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    Default One Pearl Bank (D2, 99 years leasehold, Capitaland)

    CapitaLand unveils design of One Pearl Bank in Singapore’s prime Outram-Chinatown district | CapitaLand

    Features world’s first vertical sky allotment gardens in a residential development


    CapitaLand today unveiled the design of One Pearl Bank – designed by multi award-winning Serie+Multiply, the new scheme elevates the concept of high-rise living with a total of 774 apartments, offering studio apartments to penthouses, ranging in size from approximately 430 to 2,800 square feet.


    Singapore, 14 May 2019 – CapitaLand today unveiled the highly-anticipated design of One Pearl Bank perched atop the verdant Pearl’s Hill. The development comprises two gently curving 39-storey towers linked at the roof by dramatic sky bridges. The slender, curved facades create a light and airy effect, providing ample space for residents and onlookers to look out and through the towers to admire the stunning views atop the hill. Towering at 178 metres, One Pearl Bank will be the tallest residential development in the Outram-Chinatown district in Central Singapore, offering panoramic views that extend from the Central Business District to Sentosa.

    Designed by multi award-winning Serie+Multiply, a joint venture between London-based Serie Architects and Singapore-based Multiply Architects, the new scheme elevates the concept of high-rise living with a total of 774 apartments. It will support more urbanites in leading their dream city lifestyles at this prime location, in line with the Urban Redevelopment Authority’s vision to develop more homes in Singapore’s Central Area. A wide selection of unit types from studio apartments to penthouses, ranging in size from approximately 430 to 2,800 square feet, will be made available.

    One Pearl Bank will feature a world-first – a series of sky allotment gardens arrayed vertically at one edge of each tower.

    Adding to its allure, One Pearl Bank will feature a world-first – a series of sky allotment gardens arrayed vertically at one edge of each tower. With each tower featuring an allotment garden every four storeys and each garden housing 11 plots, One Pearl Bank will have a total of 18 sky allotment gardens with close to 200 plots where residents can grow their own herbs, fruits and vegetables. The beautifully-appointed allotment gardens not only support urban farming, they offer spaces to promote community bonding. Visible from the city centre, they make a powerful visual statement on One Pearl Bank’s biophilic design that integrates nature to enrich residents’ quality of life. These allotment gardens are further complemented by two sky terraces and two roof gardens across the two towers and a sunken planter in every balcony to maximise the greenery on the development’s facade.

    Mr Ronald Tay, CEO of CapitaLand Singapore, Malaysia and Indonesia, said: “As the one and only development atop Pearl’s Hill, One Pearl Bank offers residents an exclusive opportunity for city living amidst a lush garden setting. Given its unparalleled location, we wanted a design scheme that contributes meaningfully to Singapore’s cityscape and enhances its surroundings. These include incorporating abundant greenery at different elevations and adding a landscaped path linking One Pearl Bank to the adjacent Pearl’s Hill City Park – a beautiful but hitherto largely underutilised public park. Residents can look forward to the rejuvenation of the City Park, which will be transformed into a playground and social space for the community and linked to Fort Canning Park through the scenic Singapore River, as part of the Urban Redevelopment Authority’s Draft Master Plan 2019.”

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    CapitaLand prices One Pearl Bank units from S$970,000

    Over 60 per cent of apartments at 99-year leasehold condo priced under S$2m; sizes from 430 sq ft

    Fri, Jul 12, 2019

    CLAUDIA TAN


    REAL estate developer CapitaLand's 99-year leasehold condo One Pearl Bank will be open for booking on July 20, with prices starting from S$970,000 for studio units.

    Known for its curved towers linked by sky bridges, the 39-storey condo occupies a land area of 82,376 square feet (sq ft) and is expected to be completed by 2023.

    The development comprises 774 residential apartments, ranging from studio apartments to penthouses. Sizes are from 430 sq ft to 2,800 sq ft.

    Over 60 per cent of the units will be priced under S$2 million. The indicative pricing starts at S$970,000 for a studio unit, S$1.1 million for a one-bedroom unit, S$1.5 million for a two-bedder, S$2.5 million for a three-bedder and S$3.5 million for a four-bedroom unit.

    CapitaLand declined to announce the average price per sq ft.

    Smaller units like the studio, one- and two-bedroom units make up about 70 per cent of the apartments.

    "Located at the city fringe, we foresee a lot of demand for smaller units coming from younger individuals or people looking for city living projects for investments," said CapitaLand head of marketing and sales Lisa Lam.

    Ronald Tay, chief executive officer of CapitaLand Singapore, Malaysia and Indonesia said he believes the development is attractively priced for people to own a home in a mature estate with its connectivity and proximity to the business district.

    CapitaLand bought the former Pearl Bank Apartments for S$728 million in a private treaty collective sale last year. The sale price translates to a land price of about S$1,515 per sq ft per plot ratio, after factoring an additional lease top-up premium estimated at S$201.4 million.

    ERA Realty head of research and consultancy Nicholas Mak expects the development to be well-received despite nearby en bloc projects like Sustained Land's Asia Gardens that was bought in April 2018, as well as upcoming Landmark Tower bought by ZACD Group, Sin Soon Lee Realty and MCC Land in May 2018.

    While these developments are in close proximity, they differ in terms of architecture and connectivity, said Mr Mak.

    For instance, Sky Everton condo at the former Asia Gardens site is in District 2 and close to the upcoming Cantonment MRT station, while One Pearl Bank is in District 3 and is a three-minute walk via a sheltered linkway to Outram MRT.

    "One Pearl Bank would attract people who have a liking for the old Pearl Bank Apartments as the new development tries to retain the original horseshoe-shaped architecture. It is also rare for high rise developments to be found in the Outram-Chinatown area," said Mr Mak.

    Standing at 178m, One Pearl Bank will be the tallest residential development in the district, overtaking The [email protected] which stands at 156m.

    It is also the first residential development to feature sky allotment gardens where residents can grow their own produce among the 18 allotment gardens with close to 200 allotment plots.

    These gardens were designed to support urban farming and promote community bonding.

    Recreational amenities within the development include an outdoor gymnasium and an amphitheatre.

    The public preview will be on July 13.

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    One Pearl Bank sells 160 out of 200 units released over launch weekend

    Mon, Jul 22, 2019


    ONE Pearl Bank, the 99-year leasehold condo by CapitaLand, sold 160 units at an average price of S$2,400 per sq ft (psf) over the launch weekend, as at 5pm on Sunday.

    That translates to 80 per cent of the 200 units CapitaLand released during the weekend, and about 20.7 per cent of the total 774 units in the 39-storey development.

    The most popular apartment types were the one-bedroom and two-bedroom units, which accounted for 56 per cent and 31 per cent of the 160 units sold, CapitaLand said in a press release on Sunday. Other unit types sold over the weekend include studio and three-bedroom apartments.

    Some 80 per cent of homebuyers were locals. Foreign buyers were mainly from China, Malaysia and Indonesia.

    Prices at One Pearl Bank begin from under S$1 million for a studio apartment. More than two-thirds of the condo's units are priced below S$2 million each. Unit types range from studio apartments to penthouses. The largest of the four penthouses stands at 2,788 sq ft.

    Bookings for One Pearl Bank had commenced at 11am on Saturday, a week after its sales gallery opened for public viewing.

    Homebuyers who booked their units during the weekend enjoyed an early-bird discount of one per cent, limited to the first two days of the project launch,

    CapitaLand is encouraged by the positive response from homebuyers, said Ronald Tay, CEO of CapitaLand Singapore, Malaysia and Indonesia, residential and retail. "This points to the continued market demand for well-appointed homes in prime District 3 that are connected to transport nodes, amenities and lifestyle options … We are confident that the project's iconic status and excellent attributes will continue to attract interest from prospective homebuyers," he said in the press release.

    Located on the site of the former iconic Pearl Bank Apartments, One Pearl Bank is expected to be completed in 2023.

    Shares of CapitaLand last traded at $3.63 on Friday.

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