UBS will move to a new office building in Singapore near to the exclusive Orchard Road shopping belt. The Swiss bank's new offices will house its 4,000 employees in the city-state.
UBS Singapore has signed a lease to take up all the office space of the redeveloped Park Mall building at 9 Penang Road, developer SingHaiyi Group and its joint venture partners Suntec Reit and Haiyi Holdings said in a statement.
The firm, which was mulling over a move to consolidate its One Raffles Quay and Suntec City offices in Singapore, will occupy 381,000 square feet of office space across two towers and eight floors at the development, which is expected to be completed by the end of the year. UBS will relocate there in the second half of next year.
Space for Future Growth
The 10-story prime office building located at the gateway to the Orchard Road shopping belt and close to the Civic District and CBD will house the Swiss bank's 4,000 Singapore employees, as well as its UBS University, which provides training and development programs for employees across the region.
«The move will allow us to bring employees currently working at One Raffles Quay and Suntec City under one roof to enhance collaboration, as well as offer new capacity for future growth in Asia Pacific,» August Hatecke, country head of UBS Singapore, said.
