SINGAPORE: Ride-hailing giant Grab will build a new Singapore headquarters in one-north as it expands its operations.
The company announced this on Wednesday (Jan 30) in a joint media release with Ascendas Reit, which will develop and manage the building. It is expected to cost about S$181.2 million.
The new headquarters, which is expected to be ready in the fourth quarter of 2020, will house all of Grab's employees in Singapore.
"Grab’s largest R&D centre will also be based here, as Grab continues to expand its tech team globally," said the media release.
Grab currently has four offices in Singapore at Midview City, Marina One, Cecil Street and Guoco Tower.
The new building will be designed with green features, incorporating mid-level sky terraces and communal spaces.
"The new headquarters is yet another important milestone for us - it represents our long term commitment to Singapore and the region,” said the company's head of people Ong Chin Yin, noting that Grab hit its three billionth ride in Southeast Asia last week.
She added that Grab has plans to create and hire for "a thousand more exciting roles" globally over the next 12 months.
Grab, which started as a ride-hailing app in 2012, quickly grew to offer food and package deliveries, mobile payments and financial services. It currently operates in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.