Singapore's DBS Bank is relocating its Taiwan headquarters to the heart of the country's financial district.

The new 71,550 square foot office at the A12 building will house DBS' flagship branch and will offer a range of financial and wealth management products and services.

The move, which will be completed in the first half of 2011, is part of the bank's S$1.5 billion multi-market strategic occupancy plan, which includes a planned local incorporation next year, as well as the establishment of a local subsidiary by September. At present, DBS has 40 branches in Taiwan.

The bank has been bulking up its Asian network in 2010, with a particular focus on Greater China, Hong Kong, and Singapore. These include the September appointment of Sebastian Paredes as the new chief executive for Hong Kong and the launch of a new headquarters in Shanghai in February, among others.

In a report by Channel News Asia, DBS reportedly said it plans for a 40:30:30 revenue balance between Singapore, Greater China, and South & Southeast Asia within the next ten years. At present, around 62 per cent of its income comes from Singapore.