$5 million will be invested by DBS to transform its existing Newton office into a net zero building. Source: Google Maps

DBS will invest more than $5 million to transform its existing four-storey office building into a carbon net zero development, reported Mingtiandi.

With a portion of the retrofitting cost covered by a grant from the Building and Construction Authority (BCA), DBS revealed that the project is in line with Singapore’s goal to green 80% of buildings by 2030.

The low-key building at 135 Bukit Timah Road in Newton houses a branch of DBS’ POSB retail banking division and is a 10-minute walk to Newton MRT station.

Once work is completed in Q1 2022, the building will house over 400 consumer banking employees of DBS.

“We are excited at the opportunity to deploy some of the most cutting-edge net zero technologies in our Newton development and are privileged to have BCA’s strong support as we bring to fruition Singapore’s first net zero building by a bank,” said Erwin Chong, DBS’ Group Head of Corporate Real Estate Strategy and Administration.

The revamped building will feature a newly created overhang to allow for the installation of 1,000 sq m (10,764 sq ft) of rooftop solar panels.

DBS said the panels could yield 250,000 kilowatt-hours per year, noting that the building currently consumes 845,000 kWh, which is equal to the power consumed by about 200 homes per year.

The balance of energy savings will be achieved via enhancements like a slatted façade, occupancy-based lighting and air-conditioning systems, as well as low-energy appliances such as self-powered refrigerators, efficient ceiling fans and heat pump water heaters.

Chong said the ultimate aim is to scale these innovative technologies across the rest of DBS’ branches and lobbies.

“We look forward to sharing our project outcomes and experience with BCA and other like-minded organisations so that we can collectively realise a greener, more sustainable future for Singapore,” he said as quoted by Mingtiandi.

Source: CommercialGuru, 12 July 2021