CapitaLand sells 160 units at One Pearl Bank launch

Preview of CapitaLand's One Pearl Bank project over the 13-14 July weekend. Credit: CapitaLandPreview of CapitaLand's One Pearl Bank project over the 13-14 July weekend. Credit: CapitaLand

CapitaLand sold 160 units, or 80 percent of the 200 units available, at the launch of the One Pearl Bank development in Singapore’s Outram neighborhood, the developer said in a press release Sunday.

The units were sold at an average selling price of S$2,400 a square foot, CapitaLand said. That was after an early-bird discount of 1 percent for the first two days of the launch, the developer said.

“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,” Ronald Tay, CEO of CapitaLand Singapore, Malaysia and Indonesia for residential and retail, said in the statement.

“We are confident that the project’s iconic status and excellent attributes will continue to attract interest from prospective homebuyers,” Tay added.

The units at the project’s two 39-storey towers start from under S$1 million, and more than two-thirds of the 774 units are priced below S$2 million, CapitaLand said. The sizes will range from 431 square feet for a studio apartment up to 2,788 square feet for the largest of the four penthouses, the statement said.

The one-bedroom and two-bedroom units were the most popular, accounting for 56 percent and 31 percent, respectively, of the units sold, CapitaLand said. Around 80 percent of the buyers were locals, it added, noting the foreign buyers were mainly from China, Malaysia and Indonesia.

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