CapitaLand has en bloc Pearl Bank Apartments as high as $ 728 million, ranking the fourth best horseshoe-shaped condominium over Outram Park.
The owners in the 288 units covering the areas from 1,323 sq ft to 3,993 sq ft, will be receiving close to $1.8 million and $4.9 million per policy of the private agreement on the collective sale. And $1.2 million to $6.9 million will be the amount due for the owners of the commercial plots having areas of 700 sq ft to 5,630 sq ft, explained by Colliers International marketing agent.
CapitaLand revealed that the recent sale was the first ever land ownership since it purchases Government Land Sales areas way back June 2013 of Bukit Timah, the place responsible for the development of Victoria Park Villas.
The Pear Bank transaction closed at cockcrow hours previous day, is never a one- off venture, told by Lim Ming Yan, the CapitaLand president chief executive of the group, Lim Ming Yan.
It is one of the group’s goal to support a reducing local household pipeline in spite of an upturn around local residential market, he further added.
