UOB sets new tech and innovation hub in Punggol Digital District

This is the first Singapore local bank to establish a presence in the district.

United Overseas Bank (UOB) looks into investing in a S$500m (US$375) infrastructure, which will set foot in JTC’s Punggol Digital District (PDD).

This makes UOB the first local bank and biggest commercial investor to build a presence in Singapore’s first smart and sustainable business district.

The infrastructure project is aimed to materialise by end-2026. The new global technology and innovation centre has a 300,000 sqft space, enough room to accommodate 3,000 entities engaging in technology, innovation, and digital roles to push UOB’s digital objectives.

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“Our investment here reinforces our commitment to grow our Singapore core, and to support our customers in Singapore and across ASEAN on their digital journey. We look forward to working with the vibrant ecosystem of partners here to accelerate innovation, talent building and sustainability.” Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, said.

UOB will collaborate closely with JTC to aid local industrialists in PDD and other areas to kickstart their sustainability efforts through financing and capability development programs.

($1 = US$0.75)