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

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.

That translates to 80 per cent of the 200 units CapitaLand has released during the weekend, and about 20.7 per cent of the development’s 774 units in all.

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 announced in a press release on Sunday. Other unit types sold 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 development’s units are priced below S$2 million each.

The condo includes a range of unit types, 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 1 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.

Set to be completed in 2023, One Pearl Bank is located near the Outram Park MRT station. All of its units will come with fully-integrated kitchens, built-in lighting, air-conditioning, cabinetry and curtains.

Shares of CapitaLand last traded at S$3.63 on Friday.

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