BNP Paribas cuts back on Singapore office footprint due to costs

The bank occupies six floors in Ocean Financial Centre.

BNP Paribas will reportedly not renew some of the space it occupies in Ocean Financial Centre.

The French bank occupies six floors at the Keppel REIT-owned building.

A report from Bloomberg stated that the bank will let go of some of its space due to rising commercial rent costs.

Bloomberg also reported that BNP Paribas will transfer at least 300 of their back-end staff at 20 Collyer Quay to Mapletree Business City to free up location for those affected by the move, though this may still be subject to change.

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