New OCBC Punggol innovation hub will house 4,000 staff

Facility will focus on emerging technologies; bank will also partner SIT to develop talent

- Joyce Lim Senior Correspondent

Senior Correspondent OCBC Bank is developing a new innovation hub in the Punggol Digital District (PDD) as part of a $500 million investment.

The hub, named OCBC Punggol, is slated for completion in the first quarter of 2027. Up to 4,000 of the bank's employees, mostly from its technology teams, will be based there, OCBC said in a statement on Sept 18.

It will occupy eight floors of a 12storey integrated complex that will also house a 200-room hotel and retail spaces, and will be directly linked to the nearby Singapore Institute of Technology (SIT).

The investment will also see the bank partnering SIT to establish an Analytics and Innovation Lab, driving fintech innovation and developing future talent.

When completed, OCBC Punggol will be the largest OCBC office premises outside the Central Business District and the second-largest after the bank's head office in Chulia Street, said OCBC group chief executive Helen Wong at the unveiling of OCBC Punggol on Sept 18.

"JTC's vision for PDD - to nurture an ecosystem that fosters collaborative partnerships and innovation - resonates with us most," she added, referring to JTC Corporation, the agency developing PDD.

Located at 98 Punggol Way, OCBC Punggol will be directly connected to SIT's Chua Thian Poh Discovery Hub via a red link bridge.