OCBC will invest about S$500 million into building its new innovation hub in the Punggol Digital District.
The amount will also go towards funding a learning lab in the Singapore Institute of Technology’s (SIT) campus there, among other initiatives, to further its transformation ambitions.
The bank expects to house up to 4,000 employees – mostly from tech – in OCBC Punggol, which will be the bank’s second-largest office space after its Chulia Street head office.
The 430,000 square feet (sq ft) innovation hub is targeted for completion in the first quarter of 2027, said OCBC group chief executive Helen Wong at the district on Wednesday (Sep 18).
The bank will occupy the fourth to 11th floors of a 12-storey mixed-use tower, one of eight in the sustainable business district in the nation’s east. The first three floors will comprise retail shops. The tower will also be integrated with a 200-room hotel and other dining outlets.
Some 65 per cent of the space in the district’s eight towers have been taken up so far, said JTC, which master-planned and developed the 50-hectare district.
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Other tenants previously announced by JTC include private and public sector players such as UOB, GovTech, Cybersecurity Agency of Singapore, dConstruct Technologies, Delteq and Wanxiang Singapore.
“JTC’s vision for Punggol Digital District – to nurture an ecosystem that fosters collaborative partnerships and innovation – resonates
