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New S$500 million technology and innovation centre in Punggol Digital District to be completed by end-2026

The facility will span 300,000 sq ft, which is the size of about five football fields, and house around 3,000 talents engaging in technology, innovation and digital roles.

New S$500 million technology and innovation centre in Punggol Digital District to be completed by end-2026

The new facility will span 300,000 sq ft, which is the size of about five football fields.

SINGAPORE: Singapore’s first smart business district located in Punggol will get a new technology and innovation centre by the end of 2026.

The facility, into which Singapore bank UOB will invest more than S$500 million (US$375 million), will span 300,000 sq ft, which is the size of about five football fields, national industrial estate developer JTC said on Tuesday (Apr 18).

Around 3,000 talents engaging in technology, innovation and digital roles will be housed in the new centre.

It is the latest development in the Punggol Digital District (PDD), a 50-hectare space which will also host the Singapore Institute of Technology’s (SIT) new campus, as well as community facilities.

At its heart will be an open digital platform, which will collect real-time data from the district and can be used to roll out solutions such as optimising temperatures in buildings.

Opening in phases from next year, the PDD will create 28,000 new jobs closer to home for more than 160,000 Punggol residents, along with those in the north-east region of the country. 

Ten companies have joined to date, with local firms Delteq, Target Media Culcreative and UOB the latest to come on board.

DEVELOPING DIGITAL TALENT

The technology, innovation and digital talent housed in the new centre, will play a part in furthering UOB’s global agenda.

Singapore bank UOB will invest more than S$500 million into the new facility. (Photo: AFP/Roslan RAHMAN)

The centre will develop and test UOB’s digital solutions, before they are rolled out to the bank’s markets in 19 countries and territories around the world.

The local bank will also collaborate with JTC, the developer of the district, to help other businesses there adopt sustainable practices.

Ms Lim Lay Wah, group head of UOB’s Sector Solutions Group and Global Financial Institutions Group, said the bank wants “to help to reach out to JTC's tenants in Singapore and beyond”, especially in the logistics, transportation, consumer goods and industrial sectors.

The bank has signed a memorandum of understanding with SIT to set up a fintech innovation lab on the upcoming SIT campus in the district, to help nurture future financial, technology and digital talent.

Under the arrangement, UOB’s employees and SIT’s staff and students will have the opportunity to work on real-world problems and hone their skills for the future economy.

The district will also host the Singapore Institute of Technology’s new campus. (Image: Singapore Institute of Technology)

Following a 70 per cent occupancy commitment for five blocks in the first phase of its development, the PDD is embarking on its next stage, with three new business park towers that will provide an additional 1.2 million sq ft of business park and commercial space.

COLLABORATIONS UNDERWAY

Collaborations among the stakeholders are already in motion in the district.

Mr Alvin Tan, assistant chief executive officer of JTC, said the PDD Living Lab Programme, a partnership between JTC and SIT, is an important enabler to power innovation in SIT.

“What this does is it provides a framework for companies coming to PDD to have a means and a framework to tap the talent pool, as well as research capabilities, in SIT,” he said.

“More importantly, this will accelerate the pipeline of industry ready talent and create opportunities for testbedding co-innovation and entrepreneurship."

Punggol Digital District allow greater opportunities for collaboration between the various stakeholders. (Photo: JTC)

SIT president Professor Chua Kee Chaing said that with the university situated alongside industry players, there will be “a strong academia-industry nexus” and help with the school’s applied learning pedagogy.

“Being part of the vibrant and innovative community will allow SIT students and faculty to benefit from symbiotic exchanges of ideas and collaborations, and be better equipped to contribute to the digital economy,” said Prof Chua.

Trade and Industry Minister Gan Kim Yong said the development of the PDD will create a lot of opportunities for residents in this area.

“It is poised to attract digital leaders in key growing tech sectors such as cybersecurity, blockchain and fintech, robotics and artificial intelligence, cloud computing and smart living," noted Mr Gan.

He added that the district will also be the gateway for digital tech companies to launch into the region.

Source: CNA/fk(dn)

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