Amazon is expanding its operations in Singapore as it grapples with growing competition in a city that is fast becoming a hub for Chinese tech giants and others looking to expand across Asia.
The online retail giant is scooping up 90,000 additional square feet of office space in the middle of Singapore’s financial district at the Asia Square Tower 1, Bloomberg reports, citing people familiar with Amazon’s real estate plans.
Amazon will lease three floors in the tower that had been occupied by Citigroup, which is cutting back on its real estate footprint at the tower as its 10-year lease ends, according to the business news service.
Amazon will move staff into its new suite of offices in the Asia Square Tower early next, per the report.
The world’s largest retailer is also on a hiring binge in Singapore. Amazon is currently hiring for 200 positions in the city, including roles in data analytics, sales, marketing and public relations, and business development.
“Amazon is always in a state of innovation and disruption,” Justin Tang, the head of Asian research at United First Partners in Singapore, told Bloomberg. “Asia is a source of growth for them and they need to be near where their rivals are.”
Amazon’s expansion in Singapore comes as major Chinese tech companies also flock to the booming city-state.
Alibaba, Tencent Holdings and TikTok owner ByteDance have also established sizable presences in Singapore as they look to expand across Asia.
Singapore’s highly developed legal and financial systems are a draw for major companies, with the city also rising in importance as the future of Hong Kong hangs in the balance amid a crackdown on civil liberties in Beijing.
Amazon also recently announced plans to hire an additional 3,500 workers in the United States as it expands tech hubs in six major cities including Dallas, New York and Denver.
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