One of the world’s largest of gold handlers, Deutsche Bank, has started to store bullion in Singapore.

The bank is responsible for looking after 200 metric tons of gold, which is the equivalent of about R92 billion. The Singapore FreePort high security vault is situated just across from the city’s main airport.

Mark Smallwood, Deutsche’s head of wealth management:

Gold has traditionally been stored in London, Zurich, and New York, but there is a serious shift in dynamics going on as the global financial crisis continues to evolve.

FreePort has become the trusted hub for storing precious items such as art or jewelry in Southeast Asia. The flashy storage facility boast promises “of legally avoiding taxes and customs inspections.”

Ironically FreePort was actually built by Swiss architects.

Unlike the warehouse type vaults in Switzerland, the FreePort facilities have sleek and stylish designs for their over 6,000 kg doors.

Although it’s no Gringotts, this well conceptualised and high-security vault is something to check out. Here is a video tour.

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[Source: Quartz]