Industry News

Office occupiers across Asia Pacific are entering a new phase of workplace transformation as office attendance stabilises, AI adoption accelerates, and companies increasingly prioritise premium office space. According to CBRE’s 2026 Asia Pacific Office Occupier Survey, half of the companies expect to expand their office space over the next three years.

Nearly 88% of respondents reported that employees work in the office at least three days per week, marking the highest level since the COVID-19 pandemic. Tom Gaffney, Head of Leasing, Asia Pacific for CBRE, noted, “The workplace conversation in Asia Pacific has fundamentally shifted… companies are no longer focused only on bringing employees back to the office.”

AI adoption is accelerating within the region’s corporate real estate functions, with 46% of respondents identifying as AI adopters, up from 9% in 2024. However, the impact of AI on office demand remains unclear, with more than half of occupiers reporting no impact or uncertainty about its effects.

Business expansion remains a key driver of office demand, with 60% of respondents citing organic growth as the core driver. Many organisations are consolidating or exiting lower quality spaces whilst investing in premium facilities. Expansion sentiment is particularly strong in India and Japan, where demand is constrained by limited availability.

Ada Choi, Head of Research, Asia Pacific for CBRE, stated, “Although there is speculation that AI could reduce office demand, our findings suggest most organisations remain in the early stages of assessing its impact.” The survey indicates that future growth will focus on higher-quality workplaces, with lower-value spaces being rationalised.

Costa Rica has officially joined the Digital Economy Partnership Agreement (DEPA), becoming its fifth member. The accession was finalised during a meeting in Auckland, New Zealand, attended by representatives from Chile, New Zealand, Singapore, and the Republic of Korea. This development marks a significant milestone in the expansion of DEPA, which aims to foster inclusive and innovative digital trade.

The DEPA, initially signed by Chile, New Zealand, and Singapore in June 2020, sets ambitious standards for digital trade and provides a collaborative platform for its members. Costa Rica’s accession follows the Republic of Korea’s entry in May 2024, highlighting the agreement’s growing appeal. Costa Rica’s inclusion is expected to strengthen the agreement and offer new opportunities for collaboration on digital economy initiatives.

Chile’s Undersecretary for International Economic Relations, Paula Estévez, expressed enthusiasm for Costa Rica’s participation, noting its potential to enhance digital integration in Latin America. New Zealand’s Minister for Trade and Investment, Todd McClay, praised DEPA’s ability to attract high-standard economies like Costa Rica, emphasising the agreement’s role as a pathfinder in digital trade.

Singapore’s Minister for Sustainability and the Environment, Grace Fu, welcomed Costa Rica, highlighting the ongoing momentum to maintain DEPA as an open and inclusive agreement. Korea’s Minister for Trade, Jung Sung Park, described DEPA as a “living document” that adapts to the evolving digital landscape, with Costa Rica’s accession enhancing its capacity to respond to changes.

Costa Rica’s Minister for Foreign Trade, Indiana Trejos, reaffirmed the country’s commitment to advancing a digital economy, aiming to leverage DEPA for sustainable growth and new business opportunities. Costa Rica’s formal request to join DEPA was made in December 2022, with an Accession Working Group established in October 2023 to facilitate the process.

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) have reinforced their commitment to sustainable finance during the 4th Singapore-China Green Finance Taskforce (GFTF) meeting held in Nanning, China, on 17 September 2026. Co-chaired by MAS Chief Sustainability Officer Abigail Ng and PBC Director-General of the Research Bureau Wang Xin, the meeting aimed to advance cooperation in green finance and explore new areas of interest.

The GFTF meeting gathered over 50 regulatory and industry participants from both countries to discuss joint initiatives. Key topics included expanding taxonomy interoperability to cover transition activities, promoting the issuance of green panda bonds, and leveraging technology for sustainable financing solutions. The meeting also explored emerging areas such as biodiversity credits, climate resilience insurance solutions, and carbon markets.

A significant feature of the meeting was the industry-led Climate Adaptation and Resilience Roundtable, which focused on climate-resilient infrastructure development. Participants shared practices for managing physical climate risks and discussed how adaptation projects could develop viable revenue models to attract commercial financing.

Abigail Ng highlighted the importance of international cooperation in sustainable finance, stating, “As climate risks transcend borders, closer cooperation on sustainable finance is increasingly important for our economies and financial systems.” The GFTF continues to reflect the shared commitment of MAS and PBC to deepen cooperation and explore practical solutions in sustainable finance.

United Overseas Bank (UOB) welcomed the Vice Governor of Shandong Province, Zhang Haibo, and his delegation to Punggol Digital District, a key smart district in Singapore, as part of the 2026 Singapore-Shandong Week. The visit aimed to explore how digital innovation and smart infrastructure can bolster economic transformation and competitiveness.

Hosted by Tan Choon Hin, Head of ASEAN and Greater China at UOB, the delegation toured the district to understand Singapore’s integration of digital infrastructure and advanced technologies. Tan remarked, “The visit provided a valuable opportunity to discuss ideas on innovation, digital transformation and cross-border collaboration.”

The event coincides with the 2026 Singapore-Shandong Week, designed to enhance economic cooperation between Singapore and Shandong in areas such as trade, investment, and digitalisation. UOB, a longstanding connector between China and ASEAN, has been pivotal in supporting Chinese enterprises’ regional expansion, particularly into Southeast Asia.

A notable example of UOB’s efforts is its partnership with Hengfeng Bank, which has facilitated over RMB10b in business flows since 2020. This collaboration has supported more than 30 companies across sectors like artificial intelligence and advanced manufacturing. Additionally, UOB structured a $10 million (US$10 million) cross-border financing solution for a Shandong manufacturer investing in Vietnam.

The visit highlights the growing importance of digitalisation in strengthening economic ties between Singapore, Shandong, and the ASEAN region. UOB continues to connect enterprises with opportunities and expertise across ASEAN through its extensive network and partnerships.

Visa’s latest study, “Money Travels 2026 Digital Remittances Adoption Report,” highlights a significant increase in digital cross-border payments across the Asia Pacific region. The report, released on 16 September, underscores the growing importance of trust, security, and transparency in shaping consumer payment experiences.

The study surveyed over 45,000 remittance senders and receivers across 20 markets, including Australia, Mainland China, India, Japan, the Philippines, and Singapore. It found that digital remittances are crucial for supporting family members and managing financial emergencies. However, concerns about scams and fraud, particularly those enabled by artificial intelligence, are influencing consumer behaviour.

Mobile banking apps are the preferred method for international money transfers, with adoption rates between 33% and 60% across the region. Mobile wallet usage is notably high in India (36%), the Philippines (28%), and Mainland China (27%). Conversely, Japan remains an outlier, with 32% of consumers still favouring physical bank branches for international transfers.

The report also highlights the potential of stablecoins, although misconceptions persist. Many consumers mistakenly equate the risk of stablecoins with cryptocurrencies. Visa’s Senior Vice President, Chavi Jafa, emphasised the need for financial institutions to integrate speed, security, and convenience in cross-border payments, stating, “Building trust through education, transparency, and security will be critical to the next phase of adoption.”

As digital adoption accelerates, understanding these trends will be vital for banks, remitters, and fintechs to deliver seamless and secure money movement experiences.

Asian nations, including Japan, Singapore, and South Korea, are swiftly developing a robust culture of individual investing, according to a report by Aberdeen Investments. These countries are now on par with or exceeding some European counterparts in retail investment participation, a significant shift from their previous standings.

The report, titled ‘Beyond Tell Sid: How Asia built a new generation of investors’, highlights Japan’s progress, where households now hold 9% of their wealth in equities and mutual funds, surpassing the UK’s 8%. This growth is notable given Japan’s late start in promoting retail investment compared to the UK’s 1986 ‘Tell Sid’ campaign. Singapore leads with 11% household exposure to equities, whilst South Korea matches the UK and continues to close the gap with other nations.

Xavier Meyer, CEO – Investments at Aberdeen, noted, “Many Asian countries are grappling with the same challenge as the Western world: ageing populations, increasing pressure on public finances, and the need for households to take greater responsibility for their long-term financial wellbeing.”

The report also underscores the global obsession with property, with South Korean households holding 65% of their wealth in real estate. This trend is mirrored across Asia, with property accounting for 60% of household wealth in China and over half in India.

Aberdeen’s research suggests that reforms in financial education, tax incentives, and market infrastructure are crucial for broadening investment participation. Alex Smith, Head of Equities Investment Specialists at Aberdeen, emphasised, “Successful investing cultures are built gradually, through a series of reforms that make investing more accessible, attractive, and rewarding.”

The findings indicate that as Asian countries continue to enhance their investment landscapes, they may unlock more intrinsic value and attract global investors.

The Asia Pacific student housing sector has experienced a remarkable transformation, with investment volumes tripling between 2022 and 2025. This surge is largely driven by cross-border institutional investors, who accounted for nearly two-thirds of the transactions in 2025, according to JLL. The increase in investment is attributed to structural demand dynamics and persistent supply constraints, reshaping the risk-return profile of student housing across the region.

Hong Kong has emerged as a pivotal market in this evolving landscape. The city’s ambition to become a global education hub, coupled with a significant shortage of purpose-built student accommodation (PBSA), is attracting substantial capital. Notable transactions include Centaline Strategic Investments’ HK$1.51b acquisition of the Regal Oriental Hotel for conversion into a student hostel. Cathie Chung, Senior Director of Research at JLL in Hong Kong, highlighted the acute supply-demand imbalance, projecting a shortfall of over 140,000 student beds by 2029/30.

Whilst Hong Kong focuses on hotel conversions, the broader defensive characteristics of the sector are drawing foreign capital across the region. In 2025, Australia emerged as the most accessible and mature market, absorbing the majority of deployed capital. Lauren Hetherington, Senior Director at JLL, noted the diversification of the buyer pool since 2022, with increased participation from developers, REITs, fund managers, and education companies.

JLL anticipates that the investment case for Asia Pacific student housing will be bolstered by demographic and policy shifts, with the number of internationally mobile students projected to reach 9 million by 2030. Despite the momentum, JLL advises investors to adopt market-specific strategies, as student housing markets across Asia Pacific mature at different rates. Australia is expected to remain the gateway market for global capital, whilst other markets offer opportunities for growth and first-mover advantage.

Mastercard’s latest Dreamonomics Report highlights that small and medium-sized enterprises (SMEs) in Singapore are increasingly using multiple business accounts to manage cash flow, with 48% doing so for this purpose. The report, which surveyed SMEs across Asia Pacific, reveals that 55% of SMEs in Singapore utilise fintech accounts to address specific business needs, underscoring the demand for more integrated financial tools.

The report indicates that as Singapore SMEs adopt more financial tools and payment methods, they face challenges in maintaining visibility and integration across these systems. This complexity is echoed regionally, where Asia Pacific SMEs use an average of five business tools and four payment methods. Despite 74% expressing optimism about the future, 69% prioritise predictability and stability, with integrated tools deemed crucial for daily decision-making.

Anouska Ladds, Executive Vice President of Commercial & New Payment Flows at Mastercard, emphasised the need for payment experiences that align with business operations. “Every business decision today has a financial dimension. SMEs need payment experiences that fit how they actually operate, giving them the flexibility to stay in control of their working capital,” she stated.

The report also highlights the growing importance of security, with 70% of Asia Pacific SMEs prioritising protection against cyber threats. However, only 39% currently utilise cybersecurity tools. As digital operations expand, SMEs are increasingly looking for security features embedded within their existing financial tools.

Mastercard’s findings suggest that the next phase of SME digitisation will focus on integrating existing tools to enhance business operations, rather than merely adopting new technologies.

As more women in Singapore and Korea enter motherhood later in life, clinicians are calling for postnatal care to be tailored to individual needs and grounded in clinical evidence. This was the focus at DeRAMA Singapore’s Joint Postnatal Recovery Seminar, held on 17 August 2026, where Dr Park Jeongmi from Korea and Singapore-based Dr Ho Ping Ling discussed evolving postpartum practices.

Dr Ho highlighted that women aged 35 and above face higher risks of medical conditions and complications during pregnancy, necessitating personalised care. “There is no one-size-fits-all approach,” she stated, emphasising the importance of assessing each mother’s unique circumstances.

In Korea, the rise of nuclear families has led to the development of sanhujoriwon, or postpartum recovery centres, which provide structured support. Dr Park noted that 85.51% of Korean mothers now use these centres, which offer comprehensive care beyond traditional rest and nutrition.

In contrast, Singapore’s postnatal care remains largely home-based, relying on family support. However, concerns were raised about the inconsistent training and medical basis of some practices. Dr Ho pointed out that certain long-held beliefs, such as avoiding showers, contradict modern hygiene standards.

The seminar also addressed the affordability of structured care. Dr Park mentioned that some Korean centres receive government support, making them more accessible. This model could inspire similar initiatives in Singapore, where recovery centres are still emerging.

Ultimately, the seminar underscored the importance of integrating professional, evidence-based services with traditional family involvement to enhance postnatal care for modern mothers in Singapore.

DHL Express has reported a significant 16% increase in its Heavy Weight Express (HWX) service in Asia Pacific, excluding China, during the first half of 2026. This surge reflects the company’s strategic focus on facilitating the movement of critical components and machinery amidst an unpredictable global trade environment.

The rise in heavyweight shipments is largely attributed to high-value technology-related cargo, engineering, manufacturing, and the automotive industry, which together account for two-thirds of the total heavyweight segment. Ken Lee, CEO for Asia Pacific at DHL Express, noted that businesses are opting for express logistics to manage supply chain risks, stating, “Businesses are shipping heavy when timing matters and when it’s critical.”

The technology sector, particularly semiconductors and data centre components, represents over 34% of DHL’s heavyweight shipments. The demand for rapid delivery of these components is driven by the expansion of data centres and the increasing need for computing capacity and cloud services. The automotive sector is also experiencing robust growth, with shipment weight increasing by nearly 20%, fuelled by the expansion of electric vehicle manufacturers in Asia.

Countries such as India, the Philippines, Vietnam, Japan, and Hong Kong have shown the fastest growth in heavyweight shipments, underscoring their roles as key trade corridors and manufacturing bases. DHL Express has bolstered its infrastructure in the region, adding new facilities and expanding its aviation network to support this growth.

As businesses continue to navigate complex supply chain challenges, DHL’s HWX service is positioned to provide the speed and reliability needed to maintain production continuity and meet urgent delivery timelines.