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Germany's TÜV SÜD breaks ground on S$100m hub at International Business Park
GERMAN testing, inspection and certification company TÜV SÜD has started construction of its S$100 million hub at the International Business Park (IBP) on Wednesday, marking the company's first major real estate investment outside of its German headquarters.
The eight-storey building, spanning 18,900 square metres, will be built around its existing lab facility at IBP, and feature an open-concept office. The new facility will utilise the latest technologies to ensure energy efficiency and sustainability according to the Building and Construction Authority's green mark platinum standard.
The company's 600 Singapore-based employees, including those from TÜV SÜD PSB and TÜV SÜD Digital Service Centre of Excellence (CoE), will eventually relocate from Singapore Science Park to the new facility. The company said that it expects to grow to 700 employees as the new hub becomes fully operational in 2020.
At the groundbreaking ceremony, which was graced by German Ambassador to Singapore Ulrich Sante and TÜV SÜD chairman Axel Stepken, TÜV SÜD board member Ishan Palit, said: "Our decision to further invest in Singapore demonstrates our confidence in this market and its aspirations for the future. Singapore is constantly innovating, and is always prepared to test new technologies and solutions to propel its Smart Nation vision."
Singapore Economic Development Board (EDB), which had previously partnered TÜV SÜD to launch the Singapore Smart Industry Readiness Index to help accelerate companies with their industrial transformation efforts, welcomed the company's long-term commitment to Singapore.
Chng Kai Fong, managing director at EDB said: "EDB looks forward to deepening the partnership with TÜV SÜD as we seek to enhance Singapore's position as a global business and innovation centre."
In 2016, TÜV SÜD opened the Digital Service CoE with the commitment to invest S$40 million into the development of technologies and talent in support of the Smart Nation vision. Last year, it launched the Smart Elderly Care @ Home Centre to test smart solutions for home care for the elderly.