OCBC to set up new hub, partner with SIT in $500m Punggol investment

It plans to complete the hub in Q1 2027.

OCBC will inject about $500m into the Punggol Digital District (PDD) with the establishment of a new 430,000 sq ft innovation hub and a multi-million dollar strategic partnership with the Singapore Institute of Technology (SIT)

The hub, OCBC Punggol, will be completed in the first quarter of 2027.

The hub at 98 Punggol Way is directly connected to SIT’s Chua Thian Poh Discovery Hub via a red link bridge on the Collaboration Loop. 

Additionally, OCBC Punggol connects to SIT through a large canopy along the Campus Boulevard, an 800-meter walkway that spans the district. 

OCBC Punggol will occupy about 430,000 square feet across eight floors of a 12-storey mixed-use tower.

The tower, integrated with amenities such as a 200-room hotel, retail shops, and dining outlets, will make OCBC Punggol the largest OCBC office outside the central business district and the second largest after the Bank’s Chulia Street head office. 

The hub will accommodate up to 4,000 employees, mainly from the bank’s technology workforce.

Meanwhile, OCBC said its partnership with SIT will drive innovation and talent development in fintech through the creation of a learning lab and the provision of scholarships.