Zurich-based Julius Baer has been hiring for its Asian business units at a rapid pace this year. Now the bank that likes to claim Asia as its «second home» is set to move to accommodate the newcomers.
According to a report in the «Business Times» Julius Baer has signed a lease at close to double-digit rent for a massive 100,000 square feet at Marina One, a new office, retail and residential development in Singapore’s expanding Marina Bay Financial District.
Julius Baer the article says is due to give up its 72,000 square feet of space spread over two floors at Asia Square Tower 1 when it moves into Marina One, which will be completed next year.
Largest Transaction
finews.asia reported recently on the deal for Asia Square Tower 1 for which the Qatar Investment Authority (QIA) shelled out approximately $2.45 billion to acquire the property from U.S. asset manager Blackrock, making the deal one of the most significant single-tower real estate transactions in Asia-Pacific to date, and the second largest single-tower real estate transaction globally.
At present it is home to numerous wealth managers including Julius Baer, J. Safra Sarasin and Citi Private Bank.
