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Monday, December 24, 2007

DBS Bank signs on for new Marina Bay headquarters

DBS Bank will move its headquarters from Shenton Way to the Marina Bay Financial Centre (right) from 2012. The bank has signed an agreement to lease 700,000 sq ft of office space across 22 storeys for 12 years — the largest lease deal to date in Singapore. The new headquarters would allow the bank to consolidate its various customer-facing units, trading operations and its corporate headquarters into one building, said DBS CEO Jackson Tai.

DBS will also relocate various units to a purpose- built ninestorey building at Changi Business Park, near the Expo MRT station. Also, in October, the bank signed a lease with Swire Properties in Hong Kong for more than 220,000 sq ft of office space from early next year at One Island East, a 70-storey building. Tai said the new operations hub at Changi Business Park and the new office in Hong Kong would enable the bank to meet expansion needs as DBS grew its customer franchise in Asia.

By theSun

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