The largest ride-hailing service in Southeast Asia, Grab is set to twofold its staff in the Lion City to 3,000 by the time it moves into new headquarters next year.
The Singapore-based startup recently signed an 11-year lease for new offices in a development by Ascendas Real Estate Investment Trust. The company has a five-year renewal option and will occupy all of the building, which has an estimated floor area of 42,310 square meters and cost S$181.2 million ($133.7 million).
Speaking at the groundbreaking ceremony on Friday (Mar 30), Grab Chief Executive Officer Anthony Tan said that the new building will allow the company to put their growing team of up to 3,000 Grabbers under one roof. “It is an affirmation of our long-term investment in Singapore,” he added.
Grab is flush with cash after raising $4.5 billion from investors including SoftBank Group Corp.’s Vision Fund to bankroll efforts to become a one-stop shop for on-demand services in Southeast Asia. Last year it acquired Uber Technologies Inc.’s business in the region, Bloomberg reports.
Grab will also add 1,000 technology jobs across its research and development centers in Bangalore, Beijing, Ho Chi Minh City, Jakarta, Kuala Lumpur, Seattle and Singapore. The jobs will include data scientists, artificial intelligence researchers and engineers, Tan said.
Globally, the seven-year-old Grab currently has 6,000 employees.