My Review of ONE PEARL BANK – 2019
Built on the site of the former Pearl Bank Apartments, One Pearl Bank‘s launch was highly anticipated, as the developer had been gradually unveiling the project over the 2nd quarter of 2019 (see the various newspaper reports below). The architecture is indeed impressive: two gently curving 39-storey towers linked at the roof by dramatic sky bridges. At 178m, it will be the tallest residential development in the Outram-Chinatown district, and will offer commanding views of the city.
The developer has announced to the media that indicative prices start from S$970,000 for a studio unit (431sf), S$1.1m for a 1-bedroom apartment (527-570sf), S$1.5 million for a two-bedder (700-803sf), S$2.5 million for a three-bedder (1098-1281sf), and from S$3.5 million for a four-bedder (1399-1432sf). There are also 4 penthouse units.
At the private preview weekend, the crowds were evident, and you can sense the high level of interest in this development. This is not surprising, because in addition to the impressive architecture, great facilities and good unit layouts, this project also has excellent locational attributes:
1. Next to the CBD where the government is rejuvenating into a work-live-play district as part of the latest Master Plan 2019.
2. Next to heritage districts of Chinatown and Tiong Bahru
3. Next to Outram Park MRT interchange station of East-West Line, North-East Line and the upcoming Thomson-East Coast Line. The station will be accessible via a sheltered walkway. The walk will take about 5 minutes.
4. Near to the Tanjong Pagar and Pulau Brani container port terminals, where the government will soon be developing to become part of the Greater Southern Waterfront.
5. Perched on top of Pearls Hill, and next to Pearls Hill City Park which is being upgraded as part of the Master Plan.
I believe that this project will sell well, if the developer is able to keep the pricing affordable — because the other pieces of the jigsaw puzzle are already in place ….
Mike Tan | CEA Regn R059706Z | 98280030
Location: Pearl Bank / Outram Park
Tenure: 99-year leasehold
Expected TOP: 31 Dec 2023
Description: 2 blocks of 39-storey (total 774 units) with 4 levels basement car parks
📌Studio 431sf = 140 Units
📌1br & 1+S 527-570sf = 175 Units
📌2br 700-893sf = 280 Units
📌3br 1098-1281sf = 140 Units
📌4br 1399-1432sf = 35 Units
📌PH 2626-2788sf = 4 Units
Total = 774 Units
TODAY 14 July 19: Thousands throng One Pearl Bank launch
CNA 14 May 19: CapitaLand unveils design for One Pearl Bank
ST 14 May 19: New Condo will be beacon on Pearls Hill
ST 13 Feb 18: CapitaLand acquires Pearl Bank Apartments for $728m
(note that the developer purchased the land for $1515 psf ppr)