CapitaLand Limited has acquired the centrally located Pearl Bank Apartments through a private treaty collective sale for S$728 million ($550 million).
The prime site atop Pearl’s Hill in Outram Park has a land area of 82,376 square feet.
Subject to conditions precedent, CapitaLand plans to redevelop the site into a high-rise residential development comprising around 800 units with a host of social, shared facilities which will foster community spirit and celebrate the area’s unique heritage.
The development will also have excellent connectivity being minutes’ away from Outram MRT Station, a triple-line interchange station, and two highways, namely Central Expressway and Ayer Rajah Expressway. The Outram precinct will also be transformed into a healthcare, wellness and research hub – SGH Campus through a 20-year redevelopment plan by healthcare group SingHealth.
“This site is a rare gem with its prime location at the confluence of Singapore’s b
