Tencent Is Reportedly Setting Up Its First S’pore Office At JustCo In CBD

In September, Chinese tech giant Tencent Holdings confirmed it would open an office in Singapore.

The Straits Times reported today (October 16) that it will occupy nearly 200 seats in the JustCo collaborative workspace at OCBC Center East in Raffles Place, according to sources familiar with the matter.

It’s unclear when Tencent will move in, but the lease will apparently last for a year.

At 10,000 square feet, this will be its first office in Singapore as it plans to expand into the rest of Southeast Asia and beyond.

Besides Singapore, Tencent already has offices in Malaysia, Indonesia and Thailand in the region.

Tencent has already hired for various positions in Singapore, including cross-border commerce, cloud computing and esports.

Chinese companies find their way to S’pore

Singapore has attracted constant attention as a regional base for Western and Chinese companies.

On the one hand, Chinese tech giant Bytedance – the parent company of popular video app TikTok – confirmed yesterday that it is moving to a larger office in Singapore.

Bytedance also said it plans to spend multibillion dollars and add hundreds of jobs in Singapore over the next three years.

He also applied for a digital banking license in Singapore, alongside Ant Group, backed by Alibaba and Sea Ltd., backed by Tencent.

At the same time, Alibaba has invested US $ 4 billion to take full control of Singapore-based e-commerce company Lazada.

In May, Alibaba also bought a 50 percent stake in Singapore’s AXA Tower, valued at around US $ 1.2 billion.

Featured Image Credit: CoinDesk

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Jothi Venkat

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