En bloc target? Leave Pearl Bank Apartments alone
A Recent newspaper article mentioned that Pearl Bank Apartments may become an en bloc acquisition candidate.
The unique design of the building is highly regarded by the architectural community, and the building has a worthy place in the architectural history of Singapore. It is considered by some locals as a landmark.
The apartment complex is suited for restoration, refurbishment and retro-fitting, and not suited for a complete tear-down and re-build.
The structure of the high-rise Pearl Bank Apartments is still solid. To attain such a structure today from ground zero, the developer must spend a great deal of money.
It appears somewhat strange to consider demolishing such a building to construct another one, when the surroundings are empty open land that is ready to be offered by the authorities for new construction.
In the case of Pearl Bank Apartments, how much net economic value will be created in a complete tear-down and re-build?
I assess that there will be an actual significant loss of economic, cultural and historical values.
Whatever apparent gain is merely the reallocation of financial resources from one party of the community to another, with no net gain to the community as a whole
It makes so much more sense for a new building to be built on adjacent empty sites, and for Pearl Bank Apartments to be refurbished.
Dr Chng Nai Wee
Source : Straits Times - 30 May 2007
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