According to Straits Times, TUV SUD, a German company, has broken ground at the International Business Park of Singapore this past week on April 4th, 2018. This hallmarks the company’s first major real estate investment besides their headquarters in Germany. TUV SUD specializes in testing, certification, and inspection with the aim of providing high-quality safety, reliability, and environmental protection within various industries.
The building which takes up an area of 18,900 square meters, will be eight-stories in height and will be built in an open-concept style. The building will be constructed around the lab facility that already exists at the International Business Park and will capitalize on the latest environmentally friendly technologies. This is to ensure that the building is energy-efficient and sustainable.
As of today, between the TUV SUD Digital Service Center of Excellence and the TUV SUD PSB, there are over 600 staff that will need to be transferred from the current office at Science Park which is near Kent Ridge to the building once construction has finished. It is expected that the hub will be operational by 2020, and is expected to take on another one hundred employees, bringing the total to 700.
Why Is TUV SUD Investing in Singapore?
During the opening ceremony, the ambassador Mr Urich Sante, chairman the company Mr Axel Stepken, and board member Mr Ishan Palit stated that they decided to invest in Singapore because they believe that the market has excellent aspirations for the future due to the fact that Singapore is always innovating. Since TUV SUD is a testing and certification company, it makes sense to invest in Singapore so they can test new technologies and provide solutions to Singapore’s vision.
The EDB ( Economic Development Board of Singapore), who had paired with the company for Singapore’s Smart Industry Readiness Index, is welcoming its long run commitment to the city. The Economic Development Board wants to enhance Singapore’s position as an innovative and global center and the partnership with TUV SUD will enhance this possibility.
Since 2016, TUV SUD has been investing millions of dollars into the island city-state through technology development and smart solutions testing.