SINGAPORE: Ride-hailing giant Grab will build a new Singapore headquarters in the north, expanding its operations.
The company announced it on Wednesday (January 30) with a joint media release with Ascend Reit, which will develop and manage the building. It is expected to cost about $ 181.2 million.
The new headquarters expected in the fourth quarter of 2020 will find all Grab employees in Singapore.
"Grab's largest research and development center will be here as well, as Grab continues to expand its technology team around the world," said the media press.
Grab offices are currently located in Midview, Sin Ming.
The new building will feature green features, including mid-level sky terraces and communal areas.
"The new headquarters is another important milestone for us – it is our long-term commitment to Singapore and the region," said head of the company Ong Chin Yin, noting that Grab hit three billion in Southeast Asia last week.
She added that Grab plans to create and hire "thousands of exciting roles" around the world in the next 12 months.
Grab, which began as a driving program in 2012, grew rapidly, offering food and packaging supplies, mobile payments, and financial services. It currently operates in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Myanmar and Cambodia.