Amazon is planning to move into Asia Square Tower 1 in the Central Business District in early 2021, according to Bloomberg who spoke to sources privy about the plan but cannot go on record.

The online retail giant will lease three floors covering about 90,000 sq ft, the report added, as it will take over some of Citigroup's office space.

Citigroup is trimming its office space as its 10-year lease is expiring soon, sources told Bloomberg.

It is currently the building's largest tenant with nine floors.

A lease for space in Asia Square Tower 1 would typically be for more than five years -- a sign Amazon is plonking its roots down here for the foreseeable future.

When contacted, Amazon declined comment.

Amazon vs China tech companies

Amazon's move in Singapore is characterised as an Amazon versus rest of big Chinese tech story.

Bloomberg reported that some of China's biggest technology corporations such as Tencent, Alibaba Group and ByteDance are making Singapore the entry point into the rest of Asia.

Singapore's mature business environment has also been cast as a boon.

Both Western and Chinese companies are reportedly coming to Singapore because of the developed financial and legal systems here.

In recent times, Singapore is becoming more attractive as Beijing tightens its grip on Hong Kong, Bloomberg also said.

Amazon expanding

Amazon currently has about 200 job openings in Singapore for roles covering data analytics, sales and advertising, business development, and marketing and public relations, according to its career site.

Amazon has been rapidly expanding in Singapore over recent years.

It has existing offices in Capital Square and One George Street.

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