CapitaLand acquires historic Pearl Bank in S$728m collective sale

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one-pearl-bank-singapore-pearl-bank-apartment-enbloc

Pearl Bank Apartments was sold to CAPITALAND for SS$728 million, translating to land acquisition price estimate S$1,515 per square foot per plot ratio (psf ppr), considering lease top up to a 99years lease of S$201.4 million premium.

The site land area has 7.45 plot ratio, size of 82,376 sq ft. This works out to possible redevelopment of 613,530 sq ft gross floor area.

Source: https://www.businesstimes.com.sg/real-estate/capitaland-acquires-historic-pearl-bank-in-s728m-collective-sale

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