Capitaland, the real estate firm which has acquired iconic Pearl Bank Apartments in Central Singapore for redevelopment announced that it was hosting a guided photo-walk of the apartment complex for Instagrammers in May 2019 so that they could photograph the private residential compound before it was rebuilt. The Photography of the Instagrammers of the private areas of the apartment complex would be posted online under the hashtage #OnePearlBank since One Pearl bank is the name of the condo project which Capitaland plans to develop on the plot which currently houses the apartment complex.
Pearl Bank Apartments Open for Instagrammers
When the apartment complex of Pearl Bank was first constructed in the year 1976, it was the tallest residential building in Singapore with a height of 113 meters. The complex had a total of 288 units including shops and residences. It was widely considered to be a role model for development of high rise and high density urban construction in the early years after Singapore became independent. It had a large number of common areas for all the residents like clubhouses and shops. There were a number of proposals for redeveloping the apartment complex with the Urban Redevelopment Authority (URA) of Singapore, yet all residents were not agreeing. The new development will be called One Pearl Bank
Capitaland Real Estate Developer for Pearl Bank Apartments Enbloc
Finally in February 2018, Capitaland, one of the most reputed real estate developers in Singapore acquired the apartment complex for $728 million. This was the fourth collective sale of the property. The sale was completed in November 2018, and Capitaland took possession of the property on April 30, 2019. The CEO of Capitaland Ronald Tay, said that though the company had examined all possible options trying to conserve the existing structure, it was not possible due to government guidelines and safety rules. Hence it was decided to develop a new structure on the existing plot with a total of 774 units. The structure was likely to be completed in 2023.
Drones to Capture One Pearl Bank Before Tearing Down
For the benefit of researchers, students and others, Capitaland has been making extensive records of the existing structure, which was widely considered a landmark. It has used drones to make a scan of the structure, and has 3D laser scans. Additionally the digitized section, floor and elevation plans have been submitted to the URA for public archiving.They hope that it will help in the study of the urban development of Singapore. When Darren Soh, a photographer posted a photo of the apartment complex on Facebook on April 30,2019, it was shared more than 5000 times. Hence Capitaland decided to host a photowalk of the apartments at Pearl Bank so that others could also photograph it.