Industry News

Savills Singapore has announced the appointment of Cheng Su Chen as Group Managing Director of its Property Management and Facilities Services division. Su Chen will oversee the integration and expansion of Savills’ property and facilities management businesses, aiming to create a comprehensive service platform. This strategic move includes the establishment of a new Property and Facilities Management Board, which Su Chen will lead.

The board will feature newly promoted Senior Managing Directors Robin Leow and Winnie Wong, alongside Ken Lee, who heads Savills’ cleaning services subsidiary. Leow will assist in driving integration and regional growth, whilst Wong will focus on expanding Savills’ property management business, the largest in Singapore. Lee’s expertise in robotics and IoT technology will further enhance the firm’s service offerings.

CEO of Savills Singapore, Marcus Loo, expressed enthusiasm about Su Chen’s appointment, highlighting her extensive experience and leadership in the real estate industry. “Her vast client base and wealth of knowledge across various asset classes will provide invaluable guidance and support to our expanding clientele,” Loo stated.

Su Chen, who has over 40 years of experience in facilities management, previously held the position of Group Managing Director at another firm, where she secured high-profile contracts and managed regional operations in Thailand and China. Her career is marked by pioneering technology and innovation in facilities management, including the use of drone technology and IoT-enabled systems.

Chris Marriott, CEO of Savills South East Asia, noted the significance of Su Chen’s appointment at a pivotal time for the company as it continues to expand its service platforms across the Asia-Pacific region. Su Chen’s leadership is expected to bolster Savills’ market position and drive growth in its property and facilities management sectors.
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MediSun Energy, a Singapore-based brine management company, has partnered with EMSTEEL, one of the largest steel manufacturers in the UAE, to launch Project Elixir. This initiative, the first of its kind in the UAE, aims to transform desalination brine into renewable blue energy and magnesium carbonate. The project aligns with the UAE’s goals for innovation, decarbonisation, and resource efficiency.

Project Elixir is backed by a AED100M research and development fund from ADQ, a sovereign investor focused on infrastructure and global supply chains. The pilot will be installed at EMSTEEL’s Abu Dhabi unit, where MediSun will deploy two systems: the WEGen RED system, which treats 500 cubic metres of brine daily to generate blue energy, and the WEGen Green Pilot, which processes 30 cubic metres of brine to produce up to 300 kg of magnesium carbonate per day. This magnesium carbonate will be tested as a sustainable alternative to dololime in EMSTEEL’s electric arc furnace, supporting green steel production.

EMSTEEL’s CEO, Saeed Ghumran Al Remeithi, stated, “This collaboration with MediSun Energy marks a significant step in redefining industrial sustainability.” MediSun’s CEO, Dusun Kim, added, “This pilot represents a breakthrough for industrial sustainability in the UAE.”

Scheduled for mid-2025, the pilot will be implemented without disrupting existing operations, with support from Emirates Electrical & Instrumentation Company for local assembly and integration.
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Singapore has emerged as the dominant force in Southeast Asia’s mergers and acquisitions (M&A) landscape for the first quarter of 2025. Despite a regional decline in activity, with 147 transactions totalling $9.7b—a decrease of 17.4% in volume and 22.2% in value compared to the previous year—Singapore managed to secure a significant share of the market. The city-state was responsible for seven of the 10 largest deals announced, including the top five.

The focus on agriculture-related assets, driven by the need for supply-chain security and integration, has been a key factor in the region’s M&A activity. This strategic imperative by corporations to acquire valuable assets is fuelling the market, with Singapore at the forefront. The country’s ability to attract major deals highlights its strategic importance in the region’s economic landscape.

Datasite, a leading M&A platform, noted that the strategic moves by corporates to secure assets are a significant driver of dealmaking in Southeast Asia. The platform, which facilitates transactions in over 180 countries, emphasised the importance of understanding the evolving M&A landscape in the Asia-Pacific region.

As the year progresses, Singapore’s continued dominance in M&A could have lasting implications for the region’s economic dynamics, potentially influencing investment strategies and corporate decisions across Southeast Asia.
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Cisco and the Infocomm Media Development Authority of Singapore (IMDA) have signed a Memorandum of Intent (MOI) to establish a testbed for 5G and related technologies. This initiative, part of Cisco’s Country Digital Acceleration programme, seeks to explore the opportunities and challenges presented by emerging technologies like 5G. The MOI was signed by Tay Bee Kheng, President of Cisco ASEAN, and Terence Chia, Assistant Chief Executive of IMDA.

The collaboration will focus on several key areas. Cisco will provide IMDA with various technologies and architectures, including its hybrid 5G Core Network Architecture, to allow experimentation and evaluation of new applications. Additionally, workshops and panel discussions will be held to enhance industry understanding of threat intelligence and the potential use of AI in 5G cybersecurity. Cisco will also offer technology updates through training sessions to share the latest trends and best practices.

Terence Chia highlighted the dual nature of 5G technologies, stating, “Technologies like 5G bring both opportunities and challenges for our digital world.” Tay Bee Kheng emphasised the importance of cybersecurity, noting, “As businesses leverage 5G technologies to catalyse their growth and realise their digital ambitions, cybersecurity needs to be a priority.”

This collaboration is expected to bolster Singapore’s digital infrastructure and ensure it remains resilient against cyber threats, paving the way for future technological advancements.
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Job postings in Singapore fell by 2.7% in April, marking the fourth consecutive monthly decline and reaching their lowest level since May 2021. Despite this downturn, the overall job posting levels remain robust, standing 41% above pre-pandemic figures, according to Indeed’s latest Hiring Lab report. This indicates a labour market that continues to support low unemployment rates, with job creation still surpassing workforce needs in most sectors.

The report highlights a shift in job categories, with logistics support growth moderating from 10.9% in March to 5.9% in April. In contrast, demand for data analytics professionals surged, moving from fourth to second place among top-performing job categories. This trend suggests companies are increasingly relying on data-driven insights to navigate uncertainty and make informed decisions.

Callam Pickering, Indeed’s APAC Senior Economist, commented, “Whilst job creation in Singapore is gradually cooling, the labour market remains resilient. Low unemployment and persistent skill shortages suggest underlying strength—but many businesses are holding their breath in a world clouded by economic and geopolitical uncertainty.”

The report also notes mixed growth across occupational categories. Notable increases were seen in personal care and home health (+29%), data analytics (+9.5%), and industrial engineering (+6.9%). However, these gains were offset by declines in cleaning and sanitation (-56%), childcare (-39%), pharmacy (-39%), and driving (-26%).

Despite recent declines, Singapore’s job posting trends remain favourable compared to international peers, outperforming several advanced economies. Whilst the nation trails behind faster-growing markets like India and Italy, it remains well-positioned to face a challenging economic outlook.
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Singapore’s industrial sector is experiencing a significant uptick in trading activity in 2025, driven by global economic shifts and technological innovation. The sector, which comprises one-fifth of the 100 most traded stocks, has seen more than a third of these stocks experience a daily trading turnover surge of over 50% compared to 2024 levels. This highlights a growing investor interest in the sector.

The transformation in industrial value chains is largely attributed to changing global trade policies and rapid technological advancements. In Singapore, the Industrials sector has seen strong institutional inflows, second only to Telecommunications, indicating renewed investor focus. ST Engineering, a key player in this sector, has emerged as the strongest performing stock on the Straits Times Index (STI) in 2025, ranking third in net institutional inflows. The company attributes its success to a diversified global customer base and investments in advanced technologies such as AI, robotics, and quantum computing.

The shift in global manufacturing from China to Southeast Asia and India is also reshaping regional trade routes and boosting demand for container shipping. This realignment is supported by increased foreign direct investment in ASEAN’s manufacturing sector, enhancing employment and modern training requirements.

Technological advancements are further accelerating Industry 4.0. Notable developments include Pan-United Concrete’s AI-powered logistics system, ISOTeam’s autonomous drones, and ISDN Holdings’ robotic building solutions. These innovations are not only reshaping industrial operations but also setting the stage for the next chapter of regional industrial growth.

As the Industrials sector continues to evolve, it remains a key pillar of economic stability in Singapore, supported by sustained public infrastructure investments. The ongoing transformation presents significant opportunities for growth and innovation in the region.
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Singapore’s Ministry of Trade and Industry has revised the country’s Q1 GDP growth to 3.9% year-on-year, up from the initial estimate of 3.8%.

This revision defies expectations of a downgrade to 3.6%, with the services and construction sectors leading the positive surprise. The services sector saw growth revised to 3.6% from 3.4%, bolstered by information and communication, finance and insurance, and professional services. Meanwhile, construction growth was adjusted to 5.5% from 4.6%, primarily due to residential building activities.

The resilience of domestically-oriented sectors, including construction, retail trade, and real estate, contributed to this upward revision, showing an improvement for the third consecutive quarter. Despite global trade uncertainties, these sectors have demonstrated robustness, with growth rising to 3.0% from 2.5% in the previous quarter.

On the demand side, private consumption improved to 3.4% from 2.2%, aligning with the growth in domestically-oriented sectors. However, public consumption saw a decline, impacting the overall domestic demand contribution to GDP growth, which moderated to 1.3 percentage points from 3.3 in Q4 2024.

Nomura maintains its 2025 GDP growth forecast for Singapore at 2.0%, above the consensus of 1.6%, and anticipates fiscal support measures post-elections to further bolster the economy. The likelihood of a technical recession in Q2 remains low, with strong export growth in April expected to support near-term economic activity.
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Singapore has been recognised as one of the world’s most emotionally magnetic cities, according to the newly released City Pulse 2025 report by the Gensler Research Institute. The study, which surveyed 33,000 residents across 65 cities globally, highlights that emotional connection, rather than infrastructure or affordability, is the primary factor in long-term urban retention.

The report reveals that 77% of Singapore’s residents are satisfied with the city as a place to live, surpassing the global average. Singapore ranks among the top three cities worldwide for “staying power,” with residents expressing high levels of trust, safety, and civic pride. Despite rising living costs, Singaporeans maintain strong emotional bonds that keep them anchored.

Angela Spathonis, Managing Director of Gensler Singapore, stated, “Singapore has long invested in infrastructure, housing, and public services, but this report shows it’s the city’s emotional infrastructure that truly sets it apart.”

The findings suggest that whilst economic opportunities, safety, and healthcare access attract people to cities, the intangible qualities of pride, belonging, and feeling “at home” are crucial for long-term retention. In Singapore, these emotional connections outweigh economic pressures, anchoring residents despite affordability challenges.

The report underscores the importance of “emotional infrastructure,” such as public parks and cultural spaces, in retaining residents. Spathonis added, “The cities of the future won’t just be the most efficient, they’ll be the most meaningful.”

As Singapore addresses population growth and sustainability goals, City Pulse 2025 offers insights for creating cities that are both liveable and meaningful. For more information, visit Gensler’s website.
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A new initiative, #BeansOnTheMenu Singapore, has been launched to transform the city’s culinary landscape by incorporating more bean-based dishes into menus across the city. The campaign, running from May 2025 to April 2026, is a collaboration between the Global Pulse Confederation (GPC), the Singapore Tourism Board (STB), and Beans is How, and was unveiled at the Pulses 25 convention on 22 May 2025.

The campaign encourages hotels, restaurants, cafés, and food services in schools and hospitals to add at least one pulse-based dish to their menus. Participants will track sales data and share success stories to inspire others. Key partners include SUPERSIMPLE, a Singapore-based café, and abillion, a global platform promoting plant-based dining.

The initiative aims to address Singapore’s food-system goals by increasing the visibility of pulses like beans, dried peas, and lentils. These ingredients offer numerous benefits, including culinary versatility, health advantages, and contributions to food security and climate action. Pulses are rich in protein and fibre, low in fat, and have a low environmental footprint, making them an ideal fit for Singapore’s dietary and sustainability objectives.

Paul Newnham, CEO of SDG2 Advocacy Hub, stated, “Beans are a gateway to transforming food systems – from the soil to the plate.” Vijay Iyengar, President of GPC, added, “We are thrilled to be partnering on the #BeansOnTheMenu campaign to bring the focus to Singapore.”

The campaign is expected to drive culinary innovation and sustainability in Singapore, with more local food service providers anticipated to join.
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ETC has announced the sale of a prime strata office floor in the Tung Ann Association Building, located on Cecil Street in Singapore’s Central Business District (CBD). The sale, managed by ETC as the sole marketing agent, will be conducted through a tender process closing on 19 June 2025 at 3pm. The property, situated on the fifth floor, offers a strata area of 403 square metres (approximately 4,338 square feet) and is priced at $8.4m (S$11.5m), equating to $1,940 (S$2,651) per square foot.

The office floor benefits from ample natural light and is available to both local and foreign buyers without the imposition of Additional Buyer’s Stamp Duty or Seller’s Stamp Duty. Swee Shou Fern, Head of Investment Advisory at ETC, highlighted the scarcity of such properties, noting that “strata office supply in the Central Area has been significantly constrained since URA’s restriction on strata subdivision in commercial and mixed-use developments in March 2022.”

The Tung Ann Association Building, strategically positioned at the corner of Cecil Street and McCallum Street, offers excellent visibility and proximity to key MRT stations, including Tanjong Pagar, Shenton Way, and Telok Ayer. This location, combined with the rarity of freehold full-floor strata offices in the CBD, makes it an attractive proposition for corporate investors, family offices, and high-net-worth individuals. Shou Fern added that these assets are ideal for those “looking to preserve and grow capital in Singapore’s resilient real estate market.”

The sale of this office floor presents a unique opportunity for owner-occupiers to centralise operations in a strategic CBD location, enhancing space efficiency. With the last transaction in the building recorded in 2010, this offering is a rare chance to acquire a highly sought-after asset in Singapore’s competitive real estate market.
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