The Advertising agency BBDO Worldwide later had its Asia Pacific Headquarters in the building, and the 14th floor housed the Embassy of Belgium.

On 6 May 2020, Alibaba Group agreed to buy a 50 per cent stake in AXA Tower, valuing the property at S$1.68 billion.

[5][6] At the beginning of May 2022, AXA Tower was closed to the public for demolition with all tenants having relocated.

On 7 July 2022, plans were approved by the Urban Redevelopment Authority for a consortium consisting of Alibaba, Perennial Holdings, and local partners, to redevelop the site of the AXA Tower into a new 63-story building with a height of 1,001 feet (305 metres), making the new building the tallest skyscraper ever approved in Singapore.

[7][8][9] The developers have since engaged Skidmore, Owings & Merrill, the firm responsible for the Burj Khalifa in Dubai, to design the new building.