GlaxoSmithKline is strengthening its presence in Singapore by establishing a new 15,000-square-metre global headquarters for Asia.

The drugs giant has signed an agreement with Boustead Development Partnership to develop and lease a new building located at the ‘one-north’ development in the Rochester Park area of Singapore, with construction expected to complete by the end of next year.

“Singapore excels in fostering talent, supporting business growth and offers an excellent base to access Asia.  This is why we are making a significant decision to further increase our presence in Singapore as we continue to modernise and advance GSK,” said the firm’s chief executive Sir Andrew Witty explaining the decision. 

The company, which stepped into the country more than 40 years ago, is expecting pharmaceutical, consumer healthcare and vaccine markets to grow “significantly faster” in key Asian territories than in the rest of the world.