OCBC to Launch $500 Million Innovation Hub at Punggol Digital District, Empowering FinTech and Talent Development

Singapore, July 2025 – Oversea-Chinese Banking Corporation (OCBC) has unveiled plans to develop a cutting-edge innovation hub within the Punggol Digital District (PDD), an emerging smart district in Singapore. The new facility, OCBC Punggol, will involve a strategic investment of approximately S$500 million and is designed to accommodate up to 4,000 employees, largely from the bank’s growing technology and innovation teams.

Targeted for completion in the first quarter of 2027, the new development reinforces OCBC’s vision to position itself at the forefront of financial technology, talent incubation, and cross-sector collaboration.

OCBC’s Vision for a FinTech-Focused Future

The OCBC Punggol innovation hub will span eight levels of a 12-storey mixed-use tower, forming part of a vibrant ecosystem that integrates workspaces, academic collaboration, lifestyle amenities, and hospitality facilities. The building will feature:

• A dedicated tech workforce base focused on advanced technologies such as quantum computing, blockchain, and mixed reality.

• Direct connectivity to the Singapore Institute of Technology (SIT) through a distinctive red link bridge.

• Accessibility via Campus Boulevard, an 800-meter long covered pedestrian walkway linking key landmarks within PDD.

With this move, OCBC aims to establish Punggol as its second-largest operational base, following its Chulia Street headquarters.

Strategic Partnership with SIT: Advancing Innovation and Learning

Central to this development is a multi-million-dollar strategic collaboration with SIT, which includes the co-creation of a state-of-the-art learning lab. This facility, one of the largest of its kind in any local university, will be equipped to host up to 100 Bloomberg terminals.

Key Objectives of the Lab:

• Enhance financial analytics skills among students and professionals.

• Provide real-world exposure to emerging financial technologies.

• Serve as a venue for community workshops on financial literacy, wealth management, and retirement planning.

This partnership underscores OCBC’s commitment to building a robust talent pipeline aligned with the future of financial services.

Bond-Free Scholarships to Nurture Young Talent

Starting from 2025, OCBC will also introduce bond-free undergraduate scholarships exclusively for SIT students. Under this initiative:

• Five students per academic year will be awarded scholarships.

• Each scholarship will be valued at S$11,000 annually, supporting up to four years of undergraduate study.

• Scholars will benefit from internship placements at OCBC, gaining practical industry experience.

This scholarship initiative builds on OCBC’s long-standing tradition of education support, which began in the 1950s.

Community Integration and Shared Facilities

Beyond technological innovation, OCBC’s presence in Punggol Digital District will extend to community and corporate engagement. As part of its collaboration with SIT, OCBC will gain access to various SIT facilities, including:

• Multi-purpose sports halls

• Auditoriums and event spaces for employee and corporate functions

This reflects a shared commitment to fostering a holistic environment that blends learning, innovation, lifestyle, and community.

Government Support and Ecosystem Development

The project is supported by JTC Corporation, the master planner of Punggol Digital District. According to JTC’s Chief Executive, Mr. Tan Boon Khai, OCBC’s presence "leverages the district as a launchpad for next-generation technologies and capability development."

SIT President Professor Chua Kee Chaing remarked that the OCBC-SIT partnership is a model of how academia and industry can co-create innovation-ready ecosystems. OCBC’s CEO Ms. Helen Wong added that “Collaboration and innovation are essential pillars for enterprise success and long-term community benefit.”

Project Summary

• Project Name: OCBC Punggol Innovation Hub

• Investment: S$500 million

• Completion Target: Q1 2027

• Location: Punggol Digital District, Singapore

• Employees Housed: Up to 4,000

• Partners: Singapore Institute of Technology (SIT), JTC Corporation

• Key Features: FinTech innovation, learning lab, scholarships, community access

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