DBS will invest over S$5 million to convert a four-storey office building in Newton into a zero-energy building. This will be Singapore’s first net zero development by a bank, DBS said on Friday.
A portion of the retrofitting cost will be covered by a grant from the Building and Construction Authority (BCA) under the national Green Buildings Innovation Cluster Programme.
The programme aims to accelerate the development and adoption of promising energy-efficient technologies and solutions in the built environment. The development, which is located at 135 Bukit Timah Road and near Newton MRT station, will house 400 DBS employees from various functions across its consumer banking group. The bank expects works to complete in the first quarter of 2022.