Back in September, Chinese tech giant Tencent Holdings confirmed that it will be setting up an office in Singapore.
The Straits Times reported today (16 October) that it will be occupying almost 200 seats at JustCo co-working space in OCBC Centre East at Raffles Place, according to sources familiar with this matter.
It is not clear when Tencent is slated to move in, but the lease will apparently run for a year.
Spanning 10,000 square feet, it will be its first office in Singapore as it sets its eyes on expanding 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 been hiring for various positions in Singapore, including cross-border commerce, cloud computing and e-sports.
Chinese Companies Making Its Way Into S’pore
Singapore has been attracting steady attention as a regional base for both Western and Chinese companies.
For one, fellow Chinese tech giant Bytedance — the parent company of popular video app TikTok — confirmed yesterday that it is moving into a bigger office in Singapore.
Bytedance also said that it is planning to spend several billions of dollars and add hundreds of jobs in Singapore over the next three years.
It has also applied for a digital bank licence in Singapore, alongside Alibaba-backed Ant Group and Tencent-backed Sea Ltd.
Meanwhile, Alibaba has invested US$4 billion to take full control of Singapore-based e-commerce company Lazada.
In May, Alibaba also bought a 50 per cent stake in Singapore’s AXA Tower, valued at around US$1.2 billion.
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