UBS Plans New Singapore Base

Tom Burroughes

18 April 2019

intends to merge and relocate its Singapore-based businesses to a new office campus in the city-state.

The move will bring together employees from different offices into a 381,000 square feet prime property at 9 Penang Road in the Orchard shopping belt. The Zurich-listed bank plans to move there by the second half of 2020, it said yesterday.

"Today, we have close to 4,000 people in Singapore across all of our businesses. 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. The new premises will also be home to the UBS University which provides training and development programmes for employees across the region," August Hatecke, country head of UBS Singapore, said.

The bank stressed that the new building is “energy-efficient”; it has been awarded Singapore’s BCA Green Mark Platinum certification.

The development is a joint venture between Haiyi Holdings Pte, SingHaiyi Group and Suntec REIT to design a world class facility for UBS' employees and clients. UBS was also advised by Savills (Singapore) Pte on the property transaction.