One Pearl Bank: A Promising Prospect, But Started Slow

1. One Pearl Bank: A Promising Prospect, But Started Slow INTRODUCTION: The standard of human settlements is soaring new heights in recent years due to tremendous advancements in their build quality and luxurious amenities. Similarly, the One Pearl Bank Condo in Singapore enlightened the masses with the exquisite look and unreal resemblance to its original structure. Located in a prime location with excellent connectivity to the Outram MRT station, CBD, Pearl's Hill City Park, and Chinatown, it is bound to attract investors and become a substantial residential prospect at the time of its launch in 2023. Still, there might be one area about the project which needs slight improvement- Sales. ONLY 20% UNITS SOLD IN TWO DAYS: Despite having great potential, this CapitaLand project failed to show high numbers in its launch ceremony. Having a total of 774 units in its 39-level structure, the sales team of One Pearl Bank managed to sell just 160 units over its launch weekend. Even if the project is deemed to have great success, the current situation of the sales will be a worry for its builders for sure. The expectations were set high when more than 4000 booklets were drawn at the time of its preview a few days before the launch. However, the sales team failed to convert this monumental achievement into any real success. The team needs to work on their numbers as their conversion rate of meagre 4% certainly needs to rise.

2. The stiff competition from the recently launched Sky Everton can make things more difficult for the One Pearl Bank Condo. Although its team managed to sell 58 units more than Sky Everton in the first two days, the race surely will be tighter as the days progress. However, the developers are sure that the numbers will improve because of the fascinating features they are providing in each flat of this 82,376 square feet project. Many connoisseurs of this field have quoted that the price of the flats won’t be a problem for the buyers as it perfectly fits the amenities provided. The good news is that the 160 units sold were not restricted to a single type and were a mix of 1BHK, 2BHK, and studio apartments. The One Pearl Bank has its units priced at $2420 per square foot and therefore will be at the top of the list for its buyers. Many condo specialists believe that the rental price of $3,750 per month for this development will further boost its sales. Till 2023, the connectivity of Outram MRT station will improve as it will have three train lines (East-West Line, North-East Line, and Thomson East-Coast Line) connected. CONCLUSION: Even if the start has been slow, the prospect is promising, and the numbers are bound to improve in the upcoming months. According to the recent information from the URA (Urban Redevelopment Authority), the One Pearl Bank is probably the best-selling project in the central region among the newly launched ones. This will surely give high hopes to its developers and motivate them to show it in their numbers. Lastly, its closeness to the Keong Saik Road recognized for trendy cafes and bars will ultimately give it an edge over its competitors.

3. Source: started-slow/ https://fortalent.com/blog/view/s/2020-04-08-one-pearl-bank-a-promising-prospect-but-