Check out DBS Bank's latest acquisition project

It's a 30% stake ownership.

According to a release, DBS Bank announced an acquisition of 30% equity stake in Central Boulevard Development Pte. Ltd. (CBDPL), with a view to owning a stake in Marina Bay Financial Centre (MBFC) Tower 3, an award-winning 46-storey international Grade A office building with approximately 1.35 million sq ft of net lettable area.

DBS recently completed its move to the new building in October 2012, occupying over 600,000 sq ft or 18 floors, and is now the anchor tenant at MBFC Tower 3.

DBS' headquarters at MBFC Tower 3 - the largest corporate fit-out in Singapore - houses the bank’s customer-facing units, an innovative flagship branch, a state-of-theart
dealing room and a creative work environment for more than 4,800 DBS employees.

Said Peter Seah, DBS Chairman, “As a leading bank in Asia, we are very pleased to be able to purchase a stake in our global headquarters, DBS Asia Central at MBFC Tower 3. This transaction demonstrates our firm commitment to further entrenching DBS' leadership position in Singapore and the region. We see this as an investment in the future of DBS and are proud to be associated with a modern and prestigious address that we call home. "

DBS entered into an agreement with Choicewide Group Limited, a joint venture of Cheung Kong (Holdings) Ltd and Hutchison Whampoa Limited, to purchase 30% equity stake in CBDPL and its associated loan for an aggregate consideration of S$1.035 billion.

Both parties also entered into a conditional put option agreement for DBS to take up Choicewide’s remaining 3⅓% equity stake in CBDPL and its associated loan for an estimated aggregate price of S$115 million.

Said Piyush Gupta, DBS CEO, “We set out to create a conducive and collaborative workplace of the future for our employees who have been instrumental to DBS' progress. The decision to acquire a stake in our new headquarters in MBFC Tower 3 enables us to better manage our occupancy costs in the long-term. The Marina Bay area is a location of choice for top financial institutions and businesses and the desirability and value of being housed here is only going to grow as Singapore strengthens its position as a leading Asian financial hub.”

DBS’ regional strategic occupancy model is based on a “front and hub” model. In Singapore, DBS moved most of its technology, operations and support functions to DBS
Asia Hub in 2010. DBS Asia Hub is one of the largest banking operations facilities at Changi Business Park.

Last year, the bank inaugurated its new Taiwan headquarters in Shin Kong Xinyi Financial Center at the heart of Taipei’s financial district. Earlier in 2010, the bankrelocated  its support units to DBS Taipei Hub located in the Nei Hu Technology Park and inaugurated the DBS Bank Tower in Shanghai’s new financial district.

DBS Hong Kong’s operation was relocated to One Island East in Quarry Bay and the Millennium City 6 at Kwun Tong in 2009.