Construction

Construction Complete and Safe Deposit Boxes Launched

Operational Milestones Achieved

November was another leap forward for The Reserve, with the issuance of our Temporary Occupancy Permit (TOP) Phase 2, covering Levels 2 and 3. The certification means that from a regulatory standpoint, construction is complete and the entire facility is operationally ready. While minor improvement works are ongoing, we have opened our gates to clients and events. We are also gaining additional attention in financial media, with features in The Economist and Bloomberg highlighting our role as a leader in wealth protection.

Safe Deposit Boxes Launched

On November 18, 2024, we officially launched our Safe Deposit Box (SDB) service, welcoming its first clients. With 12,500+ boxes available, SDBs offer secure, private storage tailored to diverse client needs. SDBs represent a major milestone in The Reserve's commitment to safeguarding wealth, further solidifying our reputation as a trusted storage provider.

Welcoming The Xcess

We welcomed a new tenant this month, The Xcess, whose workshop has relocated to our Level 4. The company specializes in the preservation, restoration, and authentication of luxury timepieces, contributing to our diverse ecosystem. Their Swiss-trained watchmakers offer services ranging from routine maintenance to expert authentication. Clients interested in these services can book appointments via their online portal. Meanwhile, Bruce Wagner, managing director of The Xcess, was featured in the Cash Confetti podcast to share insights on wealth protection and securing generational assets.

Hosted Premier Events

The Reserve continued to establish itself as a premier events venue. November featured two notable gatherings. First, on November 29, 2024, we hosted the Singapore Bullion Market Association (SBMA) Annual General Meeting, welcoming over 40 key industry participants, regional guests, and media outlets like Bloomberg and The Business Times. Highlights included the unveiling of Metalor silver kilobars, exclusive tours led by our founder Gregor Gregersen, and engaging discussions on the future of precious metals.

Second, The Chamber also served as the venue for an event hosted by the Rwanda Embassy, further showcasing The Reserve’s versatility. We look forward to working with event organizers from a variety of industries.

Reaching Key Operational and Regulatory Milestones

Preparations for TOP (Temporary Occupation Permit) 2 is underway, bringing the building one step closer to full operational status from a regulatory perspective. We anticipate receiving TOP 2 in November, which will further showcase our readiness for the grand opening next year.

Entrance & Lobby

Significant progress has been made on The Reserve’s entrance and lobby, with granite and epoxy installations nearly complete around key access points, including staircases, ramps, and parking areas. The reception counter is now live, greeting visitors as they pass through our revolving glass door entry spanning 7 meters high.

Interior Finishing

October saw further development in client-facing areas. The Experience Centre, our educational hub and starting point, is now illuminated with enhanced spotlights. Here, guests will explore the geopolitical and monetary significance of precious metals, presented through Ray Dalio’s “six stages” of the economic cycle, a concept we call “The Machinery of Inevitability.”

Additionally, Safe Deposit Boxes on Level 4 have been handed over and all ten private vaults have also been dusted off, ready for client use and marking a major milestone in our storage offering. Meanwhile, luxury watch service center The Xcess prepares for its opening as a premier tenant inside The Reserve.

Lounge & Meeting Spaces

The Level 5 lounge and coffee bar are now fully operational, providing a collaborative space for our tenants and already hosting routine client meetings. Finishing touches in the Level 4 VIP and meeting areas, such as carpeting, pendant lights, and additional furnishings, are in progress to enhance the client experience.

The Reserve continues to transform into a premier facility for secure wealth storage, with all eyes on TOP 2.

Interior Spaces, Guardhouse, and Solar Panels Go Live

Interior Spaces

In September, efforts to complete interior spaces, such as conference rooms and offices, remain a priority. Installation of carpets and furniture in meeting rooms were completed, with micro-adjustments expected. Several client meeting rooms came online, now supporting client consultations. The Chamber, located on Level 4 is also now ready to host corporate events. It boasts a large, 2.9x4.8m 4K LED screen for immersive presentations.

We are also excited to announce that the coffee bar in the Level 5 lounge is now fully operational. Visitors can enjoy premium beverages while taking advantage of the newly opened lounge area. The coffee bar is operated by Sojourner, a specialty coffee company based in Singapore that crafts high-quality, ethically-sourced brews, tailored for coffee enthusiasts.

Other Development

The handover process has started for certain levels, while full control of other parts of the building is expected soon after contractors complete minor work. Inspection and handover of areas on Levels 4 and 5 have been completed, while the VIP lounge and access control rooms, are expected to take place in the month of October.

A significant milestone this month is the completion of the new security guardhouse, while our solar panels are also fully installed, so we are now able to contribute more to our green efforts.

Bullion Transfer Underway and Final Handover Approaches

Vault Operations & Bullion Transfer

The bullion transfer continues, with gold and silver moving securely from the third floor into the new vaults on the first floor, while the vault racks steadily continue to be filled. Further, private vaults within The Safe House are now operational, ready to accommodate our clients' high-value assets. We are preparing to inform clients that The Reserve and The Safe House are fully ready to receive their metals. Finally, Silver Bullion has officially moved into its own office within The Reserve, enhancing our ability to serve clients from within the facility.

Handover Underway

A partial handover of The Reserve is underway, with more sections of the building coming under our full control. Contractors now have limited access as they focus on minor rectifications. The final handover of the facility is scheduled to start in September, occuring in phases.

Financial Institution Interest

Interest from the financial sector continues to grow, with more institutions visiting the facility to explore the comprehensive storage and wealth management solutions offered. Bloomberg recently visited The Reserve, publishing a feature article that highlights our facility's unique security measures and scale, as well as an industry shift from paper-based investments like ETFs, to physical precious metals stored in secure vaults. You can read their coverage here.

Energy Efficiency Enhancements

As previously projected, our new low-voltage substation is now fully functional. This upgrade has halved our electrical demand from 4000 kVA to 2000 kVA, resulting in an annual reduction of approximately 770 metric tons of CO2 emissions—equivalent to planting 23,000 trees. Second, the long-awaited solar panels at The Reserve have been successfully installed and are contributing to the facility’s energy efficiency. These improvements underscore our ongoing commitment to sustainability.

A Massive Silver Vault Awakens

The Safe House at The Reserve

July has been a significant month for The Reserve, with The Safe House's state-of-the-art gold and silver vaults now open. The bullion transfer has begun, with the gold and silver moving from the third to the first floor. As of this month, the vault racks are steadily being filled, marking a pivotal step in enhancing our storage capabilities.

Energy Efficiency & Environmental Impact

Substations are pivotal in converting and distributing electrical power to match the facility's specific needs. At The Reserve, our substation reduces our electrical demand on the grid from 4000 kVA to 2000 kVA. This halving of power consumption is equivalent to the carbon sequestration of planting 23,000 trees, showcasing our dedication to sustainability and responsible energy use.

By implementing this change, we estimate a reduction in CO2 emissions of approximately 770 metric tons annually, aligning with Singapore’s national energy goals and demonstrating our commitment to environmental stewardship. Learn more about our Sustainability.

Our Headquarters

The Silver Bullion offices have also moved into The Reserve, now headquartering all of our staff, with exception of our Millenia Walk retail location, which continues to operate as normal.

Looking ahead, we anticipate reaching the TOP 2 mid-October. Recent assessments from our design and security teams confirm that we are nearing the completion of all major construction and regulatory requirements. Soon, The Reserve will no longer be categorized as a construction site, but as a fully operational vault facility.

The Reserve Shines at APPMC, Earns Prestigious Architectural Recognition

June has been a landmark month for The Reserve, filled with significant events and milestones that showcase our commitment to creating a world-class vault facility. We're also happy to announce that The Reserve's completion has been added to the Silver Bullion website timeline.

Asia Pacific Precious Metals Conference (APPMC) 2024

During the recent Singapore Bullion Market Association's (SBMA) Asia Pacific Precious Metals Conference (APPMC), Silver Bullion had the honor of hosting an exclusive tour of The Reserve on June 11, 2024.

The event was attended by over 200 industry participants, including top management from precious metals associations, financial institutions, refiners, and members of the press.

Our founder, Gregor Gregersen, personally welcomed the delegates. As the official Vaulting Partner at APPMC, The Reserve showcased its comprehensive storage solutions, starting with a walkthrough of its 10 UL Class II vaults designed for the safekeeping of gold and other high-value items.

Delegates ascended the iconic staircase, illuminated by a shimmering skylight, leading to the wealth management offices. From there, they proceeded to the Silver Cliff, a vantage point overlooking one of the world's largest silver vaults, boasting a capacity of up to 10,000 tons in a single room.

This tour provided an immersive experience, highlighting the state-of-the-art security and storage capabilities that make The Reserve a leading facility in the precious metals industry.

Architectural Recognition

The Reserve has been selected as a finalist in the World Architecture Festival 2024, one of the most prestigious architecture events globally. The festival will take place in Singapore from November 6-8 at Marina Bay Sands. This recognition highlights The Reserve's secure and sustainable design, and we look forward to showcasing our facility on such a prestigious platform. For more details, refer to our press release.

The Safe House and Silver Vault

Significant progress has been made in transitioning The Safe House bullion and operations to the Silver Vault. The vaults underwent rigorous security tests in preparation for the bullion to be moved down, and the first two columns with cages extending up to the 14th story were set up, in preparation to stack silver at the highest level of the rack.

TOP Approval, Exclusive Tours, and More

The Reserve continues to build its reputation as a premier asset hub for generational wealth, offering secure vaulting for precious metals, luxury items, art, and more across its 180,000 sqft facility.

With a capacity of over 15,500 tons, it stands as one of the highest capacity vaults globally. Our vault operator, The Safe House, is a key tenant, ensuring the security and integrity of assets stored within.

Milestones

TOP 1 Approval: On May 29th, The Reserve received its Temporary Occupation Permit (TOP), marking a significant milestone. This approval marks The Reserve has meeting its regulatory and safety standards, allowing us to begin official operations.

APPMC 2024 Preparations: In anticipation of the Asia Pacific Precious Metals Conference (APPMC) here in Singapore, we are proud to be the official Vaulting Partner. The Reserve will host an exclusive tour for nearly 200 industry members, including top management from precious metals associations such as the SBMA, financial institutions, refiners, and media.

Jim Rogers' Visit: We had the pleasure of welcoming renowned investor Jim Rogers to The Reserve. During his visit, he toured the silver vault and participated in a candid interview with Gregor Gregersen.

Operational Developments

Security Enhancements: Additional security measures have been implemented, including more armed police officers providing 24/7 security and the installation of the final perimeter fencing, which is under constant CCTV surveillance.

Staff Relocation: Silver Bullion staff have begun moving into The Reserve, with offices expected to be fully operational in June.

Institutional Products: We are developing new institutional-level products and services. This includes creating "pallet parcels" for easier auditing and management, catering to the preferences of large clients who prefer bulk holdings.

We remain committed to providing top-tier security and service as we transition into full operational capacity.

Silver Vault's Racks Are Installed And Ready to Store Bullion

The racks to store silver bullion bars and coins have been installed in The Reserve's main silver vault. Once the building's Temporary Occupation Permit (TOP) is granted, The Safe House vault will take over the premises and begin storing silver bars and coins on these racks.

In the video below, Silver Bullion's CEO Gregor Gregersen took a ride in a scissors lift to the top of the 12-meter racks for a view of the completed installation.

The Dual-Purpose Eco-Conscious Design of The Reserve's Facade

The Reserve, Silver Bullion's soon-to-be-completed headquarters, boasts a facade of onyx panels distinguished by their unique grain patterns. Beyond aesthetic appeal, these panels serve a dual purpose as part of the building's eco-conscious design.

By day, they permit natural light to penetrate the building's interior, diminishing the reliance on artificial lighting and thereby reducing energy consumption. Simultaneously, the facade acts as a barrier against solar heat, effectively mitigating the need for excessive cooling measures.

The Reserve's Facade Lighting Test at Night

The Reserve's onyx facade lighting undergoes rigorous testing in the evening. Its golden glow accentuates the onyx grains, making The Reserve a truly iconic building.

An Early Glimpse of The Safe House's Silver Vault

When fully completed, this cavernous vault, to be operated by The Safe House, will have one of the largest capacities in the world to store silver bars and coins in the safe jurisdiction of Singapore!

Towards a Sustainable Future: Solar Panels Installed on the Rooftop

Our latest rooftop transformation is harnessing the power of the sun to light up a sustainable future. The solar panels are a testament to our unwavering dedication to a greener, more sustainable world!

The Iconic Silver Vault Is Close To The Finish Line

The silver vault is close to the finish line, with the walls, lights, and ceiling fully in place. The warm glow of the lights creates a lavish and dreamlike atmosphere in the spacious vault, guaranteeing that anyone who steps inside will be truly amazed.

The silver vault will be fully complete once the rackings have been installed.

Iconic Shield Logo Graces the Silver Vault Wall

Behold the spectacular sight of our iconic shield logo gracing the wall panel of the massive silver vault. The logo is bound to make an indelible impression on visitors from the moment they enter the vault. It's not just a logo. This larger-than-life emblem stands tall as a symbol of our unwavering commitment to protecting our client's wealth.

The shield logo reflects beautifully off the reflective surface of the ceiling, providing a stunning visual of the silver vault once fully completed.

Lobby Entrance Continues To Take Shape

The Reserve's grand entrance continues to ramp up its work. Steel plates are now fitted onto the metal frame structure. The cylindrical glass doors are also being installed.

The space between the onyx facade and the interiors of the building, also known as a catwalk, is coming together beautifully.

Video Documentary

Building the World's Highest Capacity Vault is a video series chronicling the journeys of the people behind the construction of The Reserve.

In Episode 5, construction of The Reserve begins as the world reopens borders and the pandemic comes to an end. However, Gregor and his team encounter challenges in the post-pandemic environment that impact The Reserve's construction and find ways to get the construction on track.

Class II Vault Door and Glass Panels Installed

The vault door for the silver vault has been successfully installed. This door will greet visitors as they enter the massive silver vault area.

The glass panels where the offices are located have also been installed.

Iconic Silver Cliff Fully Installed

Our silver vault has made some progress since October.

The iconic Silver Cliff has been fully installed!

One of the unique features of the silver vault is the Silver Cliff - a protruding ledge on the fifth floor overlooking the massive silver vault. Visitors standing on the Silver Cliff are sure to be treated to an amazing view while soaking in the vastness of the space before them.

In preparation for the placement of the shield logo, a decal has been positioned on the main vault panel. The render below shows how it'll look when completed.

Water Added To Iconic Skylight Feature and Main Entrance Updates

One of the standout features of The Reserve is its beautiful skylight feature installed just above the spiral staircase. To give visitors a touch of ethereal experience climbing up the stairs, water has been added to reflect the sunlight beautifully across the area below it.

The cylindrical frame where the main doors would be located has been fully installed.

Safe and Secure: Reinforcements Made To Vault Walls

Works are progressing fast in the vault area. Metal plates (the white panels on the walls) have been layered on top of the steel wire structures to reinforce the vault walls. This means it will be incredibly difficult for the walls to be drilled through, giving assurance to clients who store their holdings in what would be one of the world's highest-capacity precious metals vaults!

More than 12,500 Safe Deposit Boxes To Be Installed

The Reserve will cater 12,579 individual safe deposit boxes of various sizes for clients to store their valuables in. Works have been progressing very smoothly.

Iconic Facade: Architectural Renders Come To Life

The Reserve's renovation has been picking up pace and is starting to look strikingly similar to the architectural renders.

The Reserve truly stands out in the dark. When lit up at night, the onyx facade glows a golden hue, flaunting its beautiful marble-like design, just like its renders. During the daytime, the reflective facade takes another form of life by changing its color according to the weather.

Here's a render of The Reserve for reference.

Over the past few months, the workers have worked tirelessly to install every piece of the E3 aluminum panels for The Reserve's facade. The first image below shows the beginning stages of the E3 panels' installation, while the second and third image shows the completed look.

With the E3 aluminum panels lit up at night, The Reserve looks just as impressive as the renders.

Here's how beautiful The Reserve looks at night.

Here's the render of The Reserve for reference.

In The Making: One Of The World's Largest Capacity Vaults

One of the highlights of The Reserve is its 32-meter high, 10,000-ton capacity silver vault. After completing the steel support structure, the installation of the wall panels that will make the silver vault is now in the works.

Second Update

One column of the silver vault's panels is almost complete. This picture shows just how massive the vault is in comparison to the men standing amidst its space.

Video Documentary

Building the World's Highest Capacity Vault is a video series chronicling the journeys of the people behind the construction of The Reserve.

In Episode 4, Gregor Gregersen, Wesley Liew and Jessica Baczkowski, touch on some of the special design features that make The Reserve more environmentally sustainable, while sharing about the inspiration behind the iconic Silver Cliff.

It also introduces The Xcess, a high-end horology boutique which represents Silver Bullion’s first steps towards storing other high-value physical items. Michelle Gregersen (founder and CEO of The Xcess), and Bruce Wagner (COO of The Xcess) explain more about the unique services they offer for watch collectors, and share their thoughts on the Perpetual Vault, a unique watch vault designed just for The Reserve.

Iconic Skylight Feature and Main Entrance Frame Installed

The front entrance of The Reserve is starting to take shape. When complete, visitors will be welcomed by a grand cylindrical entrance, where they will be greeted by our security guards and front desk service staff.

Here's what the entrance is expected to look like, as seen in the renders.

Our newly installed skylight feature will also have a stream of water running over it, casting beautiful reflections of sunlight across the area below as it flows.

The Stunning Beauty Of The Onyx Facade

The building's facade is almost complete. The reflective nature of the onyx panels shines even in the daytime. When a plane passes by, its reflection on the facade is truly a sight to behold.

A New Twist in the Building: Spiral Staircase Installed

The frame of The Reserve's elegant spiral staircase is installed, thanks to our main contractor's tireless work throughout the night to hoist and connect the individual pieces together!

Onyx Facade Lighting Test

As The Reserve's onyx facade installation progresses, our construction team checks the lighting effect periodically to ensure that every LED light strip behind the onyx is lit uniformly to give off a mesmerizing golden glow.

Video Documentary

"Building the World's Highest Capacity Vault" is a video series chronicling the journeys of the people behind the construction of The Reserve.

In Episode 3, Gregor Gregersen retraces the events after Silver Bullion had successfully completed the moving of its vault, The Safe House. Together with Wesley Liew and Jessica Baczkowski, design architects for The Reserve, they explain how this new vaulting facility was designed.

More Onyx for The Reserve's Facade Arrives

Installing The Reserve's onyx facade is in full swing! More onyx panels arrive on site and are carefully lifted off the flatbed to be prepped for installation.

These onyx panels do more than look pretty. They allow light to enter the interior during the day, reducing electricity use, and blocking harsh direct sunlight to keep occupants cool, reducing air conditioner usage.

Powering the Future: The Arrival of The Reserve's Generators

While Singapore has an excellent electrical grid and blackouts are extremely rare, The Reserve has backup generators as well as generators to backup our backup generators to ensure that the building never loses power. This is the rigour in our contingency planning for assets we protect!

Tonight, our generators arrived in the dead of night and will be lifted to the roof by this massive Transformer-like crane!

Video Documentary

"Building the World's Highest Capacity Vault" is a video series chronicling the journeys of the people behind the construction of The Reserve.

In Episode 2 we look deeper into Singapore's jurisdictional advantage, The Safe House, its insurance benefits and its move into The Reserve.

Iconic Details

Work on The Reserve's facade is progressing well with nearly all the aluminum panels installed. These panels represent about half of the building's facade with onyx panels making up the remaining half. Installation of the onyx panels will begin in March.

Here is a comparison between the architectural model with The Reserve's facade.

Demolition works for the spiral staircase between levels 4 and 5 have begun after approval of structural strengthening works for this area. When completed, this staircase will connect the wealth management offices and Silver Bullion's office. Here is a comparison between the 3D render with the actual site.

Video Documentary

"Building the World's Highest Capacity Vault" is a video series chronicling the journeys of the people behind the construction of The Reserve.

Please enjoy the first episode from this series covering the history and background of the project.

Structural Changes

The Reserve is upcycling an existing facility previously used as a logistics hub for electronics products. Compared to building new, this approach saves cost, time and significantly reduces polluting construction emissions.

Ultra high floor loading capacity of 90kn as well as other locational and structural attributes made the existing site and building the ideal candidate to fulfill our ambitious safe storage and logistics requirements.

This month work begun to make the few structural changes required to add some of The Reserve's iconic features such as its floating stair-case connecting the office floors and the grand Silver Cliff, a set of secured glass meeting rooms suspended above the world's largest capacity silver vault.

Visual Mock-Up of the Facade

In preparation to install The Reserve's onyx marble façade a visual mock-up was constructed to show-case and test its properties.

The mock-up gives a taste of the intricate aesthetic design The Reserve will bring to life at day and at night, from the outside as well as for its tenants inside.

The façade will become a secondary layer around the building, protecting it's structure from wind and weather, providing insulation from heat and sound as well as adding an additional layer of physical security.