Singapore's Firsts: Tallest Building

Step back in time and immerse yourself in the fascinating story of the tallest building in Singapore – the iconic DBS Building. Hosted by DBS mascots Xing and Jaan through Gen Voice AI, this podcast episode delves deep into the archives to uncover the building's captivating history.

 

Discover how this 50-story superstructure, built from scratch by the bank itself, catalysed the development of Singapore's Central Business District and cemented the country's reputation as the "New York of Asia." Uncover the meticulous planning and engineering feats that went into constructing this record-breaking tower, as well as the bank's pioneering venture into real estate.

 

Join Xing and Jaan as they guide you through a unique blend of AI and nostalgia, revealing fascinating anecdotes and the lasting impact of this iconic landmark on Singapore's urban landscape. Step back in time and connect with the early days of DBS like never before.

 

Profiles

Mr Lock Sai Hung joined DBS in 1969, just months after the bank was established. As a pioneering veteran, he witnessed the bank’s formative years and played a crucial role in developing its commercial services, ranging from investment banking to international banking.

 

Mr Loh Soo Eng joined DBS in 1974 and was later transferred to DBS Land in 1980, where he was appointed as the General Manager in 1982. In his role, he helmed several groundbreaking real estate projects.

 

Find out more about our heritage: https://www.dbs.com/dbs-heritage/stories.html

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:04):
Hello everyone. A warm welcome to the second episode of
Singapore's Firsts, a podcast that delves into the history of
Singapore's innovative firsts and DBS's integral role in this journey.
I am Jaan and joining me is my co-host, Xing.
Thank you Jaan. In today's episode, we're talking about Singapore's
tallest building in 1975. This 50 story superstructure was the

(00:27):
forerunner of skyscrapers in Singapore and played a pivotal role
in positioning Singapore as the 'New York of Asia', as
termed by the news media in the 1970s . And
that building was the DBS Building. Quick orientation for those who
might need it.
The DBS Building s today's OUE Downtown building located at

(00:48):
6 Shenton Way in Singapore's Central Business District.
Thank you Jaan. In fact, this building wasn't just bought
or leased by DBS, which was then called the Development Bank
of Singapore. It was actually built by the bank from scratch.
This marked the bank's first foray into property and was
the start of many firsts. The bank would introduce to

(01:10):
Singapore's urban landscape. Let's now hear from the former General
Manager of DBS Land, Mr Loh Soo Eng.
Being a development bank even in properties, we did a
lot of the first of the development. Take DBS building
in Shenton Way, for example, in the 60s, Shenton Way

(01:34):
was just practically like car park, empty space. And then
DBS Building was the first 50- storey building at that time.
We spearhead that area of development.
The building not only catalysed the area's development but also
secured its position as the tallest building in Singapore, surpassing

(01:57):
the height of Bukit Timah, the highest point in the
country by 30 ft.
Absolutely, Jaan, it's fascinating to note that an article in
1969 suggested that it could have been the tallest building
in Asia as well.
Let's talk about the planning involved for a building that
tall meticulous planning was so important. Everything from soil tests

(02:19):
to wind deflection must be scrutinised to support the 612
ft building, four huge concrete caissons were installed, ensuring a
rock solid foundation.
Their remarkable width even secured them a place in the
Guinness Book of World Records. In fact, these caissons were
so unique that they even inspired DBS's logo.

(02:41):
But here's the thing that puzzles me, why would a
bank venture into real estate? I mean, it's a whole
different ball game, isn't it? Let's hear from Mr Lok
Sai Hung, a DBS pioneer who joined the bank in
1969 who can shed some light on the bank's decision
to venture into the world of real estate.

Speaker 2 (02:58):
It had to do with the experience and mindset of
the top decision makers. In this case, it was Hon
Sui Sen and Howe Yoon Chong. Both these persons had
a very strong real estate background. So naturally, they will
want to take advantage of opportunities to build buildings which

(03:22):
would serve the interests of a lot of our people.
Mr Hon was formerly Commissioner of lands during the colonial days.
And when he joined EDB, he was instrumental in terms
of the development of Jurong Town corporation as an industrial estate.
They all did a very good job of setting up
the infrastructure. When he thought of coming over already, he

(03:44):
had this mind of building our own building. So DBS
Building was his brainchild.
He brought along with him from EDB, a very good
engineer by the name of YC Wong. He was the
engineer in charge of building infrastructure for Jurong industrial estate.

(04:05):
You know, very successful person. DBS Building was a huge project.
They'd have site meetings and then at night he'd hash
out the minutes of those meetings, assigning responsibilities.
He was very successful in his work because he was
a tough task master. I have never seen any project

(04:25):
manager or engineer controlling a project as well as YC
Wong does. He got things done. That's the important thing,
you see. There was hardly any delay in terms of
completion and then most of those projects were completed more
or less within budget, which hardly happens in the building trade.

Speaker 1 (04:50):
Speaking of budgets, there were some members of the public
who questioned the wisdom, a young developing nation spending $45
million on the DBS Building.
Let me read out this letter dated 16 January 1970.
"If Singapore wants skyscrapers, why not lift some of the
town planning and building restrictions and let the private sector
do the job without eating into public funds? If the

(05:12):
new DBS home is to be regarded as an investment,
what are the expected returns? And the timetable envisaged for
them recent experience with high rise buildings in Singapore suggests
that the poor soil entails pouring millions of dollars into foundations.
Are we sure that this is the right time to
begin such ambitious projects?

(05:32):
You know, I personally think it really paid off. The
building hosted tenants from across the world, from foreign banks
to international businesses significantly contributing to Singapore's prominence on the
world stage.
And when it was finally sold in 2010, it fetched
a hefty price tag of 870.5 million Singapore dollars marking

(05:54):
it the largest commercial property deal of the year.
When it comes to describing the building's impact DBS's former chairman,
S Dhanabalan sums it up perfectly. He said in the
bank's 50th anniversary book, "Nobody would have dared to think
of putting up a 50 -storey building in Singapore. Yet
once we announced it and began construction, others also started

(06:16):
to build high.
And with that, we conclude today's episode. Thank you for
tuning in. Don't forget to subscribe to our channel and
stay tuned for our next episode where we uncover more
captivating stories behind Singapore's trailblazing accomplishments.
Once again, thank you for joining us on this journey.
My name is Xing
and I am Jaan. See you in the next episode

(06:38):
of Singapore's Firsts. You can catch our podcast on various
platforms including YouTube, Apple and Spotify.