One Pearl Bank is a CapitaLand award-winning development. Its last penthouse has just been sold. The development has four penthouses, the last unit being a 2,788 sq. ft. residence at the 38th floor, which was sold for $7.1m, or $2.547 per square foot.

This penthouse was bought by a Singaporean. It reflects the interest of Singaporeans in this property.

The development, which has 774 units and two twin-39-storey buildings, is the result of a joint-venture between Multiply Architects in Singapore and Serie Architects, based in London.

The curving facade of these two towers pays tribute to the original horseshoe-shaped former Pearl Bank Apartments which was the tallest residential building in Singapore in 1976 when it was finished.

The project is located within five minutes of the future Outram Park MRT Station. CapitaLand is building a covered walkway to protect against bad weather.

Outram Park MRT Station will become a major interchange station for three MRT routes: North East Line, East-West Line and Thomson-East Coast Line.

CapitaLand purchased the Pearl Bank Apartments, a 99-year leasehold property in a block deal in February 2018 for $728m. CapitaLand is building a landmark that will be higher than the old Pearl Bank Apartments.

One Pearl Bank, with a height of 178m, will be the tallest tower in Outram-Chinatown in Central Singapore.

Find out more: Lentor Mansion showroom

One Pearl Bank’s average sale price was $2,753 per square foot. Prices ranged from $2,430 psf to $3,009psf.

Singaporeans make up 76.8%. The next largest group of buyers was the PRs, with 16.4%. Foreign nationals made up 6.8%. The project was launched in July 2019 and took just over four years to sell out (around 51 month). The launch weekend saw 25%, or 160 units of the development sold.

CapitaLand has recently unveiled J’den. This is a redevelopment project of JCube Mall into a 40 storey tower. The first two floors are commercial space, and the remaining 38 floors have 368 apartments. On its first public preview weekend, the showflat attracted more than 7,000 people.