Capitaland Expands Local Footprint

• Proeksa Meas
• 3 March 2018
• International News
• 1654 Views

Singapore’s leading property developer CapitaLand purchased the high-rise 37-storey Pearl Bank Apartments in the city-state’s Chinatown area for USD550 million in January to redevelop the site.

The 288-unit is located in a prime location on a 82,376 square feet plot in Outram Park on top of Pearl Hill.

According to a statement by the company, CapitaLand intends “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 site is well-served by the Outram Park MRT station, which is linked to the East-West Line and North-East Line. It will also be connected to the upcoming Thomson-East Coast Line (TEL) which will open in phases starting from 2019. The TEL will connect Outram Park to numerous lifestyle and recreational attractions, such as Orchard Road, Marina Bay and Gardens by the Bay.