The building will house 4,000 staff and the bank’s in-house university.
UBS Singapore will move into the 10-storey Grade A office building at 9 Penang Road by the second half of 2020 and become its major tenant, an announcement revealed. SingHaiyi Group, Haiyi Holdings, and Suntec (PM) added that the space is being revamped to make way for the bank’s tenancy.
UBS Singapore will be taking up 381,000 sqft of net lettable area of premium office space spanning eight levels across two towers.
The announcement added that 9 Penang Road has also garnered strong interest from various potential retail tenants including F&B outlets and ancillary services.
SingHaiyi Group was also appointed to provide professional project and development management services for the redevelopment of the new building.
Development work for the building is on track for completion in the fourth quarter of 2019.
Celine Tang, group managing director of SingHaiyi, said, “9 Penang Road marks SingHaiyi’s first foray into commercial property redevelopment and a strategic springboard to expand our brand and track record in commercial and retail property development. We are confident that 9 Penang Road will be a leading landmark in the area.”
August Hatecke, country head of UBS Singapore, said, “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.”
9 Penang Road is located within the gateway of Singapore’s prime shopping belt Orchard Road, Civic District, and CBD. It is also connected to major transportation nodes including Dhoby Ghaut MRT station and numerous bus routes.
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