UBS Signs for New Office Lease in Singapore
In this article (5)
UBS will move to 9 Penang Road, where the firm will take up all eight floors of office space at the redeveloped Park Mall building.
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 (JV) partners Suntec Reit and Haiyi Holdings announced on Wednesday in a press release.
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 2020.
The 10-storey grade A office building located at the gateway to the Orchard Road shopping belt and close to the Civic District and CBD will house the firm’s 4,000 Singapore employees, as well as its UBS University, which provides training and development programmes 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 in the press release.
Questions & Answers
Q.Where will UBS's new Singapore office be located?
Where will UBS's new Singapore office be located?
The new UBS office will be located at 9 Penang Road. It will occupy all eight floors of office space at the redeveloped Park Mall building, a 10-storey grade A office building near the Orchard Road shopping belt.
Q.When is UBS expected to move into the new premises?
When is UBS expected to move into the new premises?
The development is expected to be completed by the end of the year. UBS plans to relocate its operations to the new location in the second half of 2020, following the building's completion.
Q.What is the primary reason for UBS's move to a new office?
What is the primary reason for UBS's move to a new office?
UBS is moving to consolidate employees from its One Raffles Quay and Suntec City offices under one roof. This aims to enhance collaboration among staff and create new capacity for future growth in the Asia Pacific region.
Q.How many employees will the new UBS office in Singapore accommodate?
How many employees will the new UBS office in Singapore accommodate?
The new office will house UBS's 4,000 Singapore employees. It will also include the UBS University, which provides training and development programmes for employees across the broader region.
Reader pulse
What's the main driver behind UBS's move?
20,309 votes so far