CBRE has announced the sale of a ground-floor retail podium at Sky Eden@Bedok, a mixed-use development in Singapore’s Bedok Town Centre. The sale, conducted through an Expression of Interest exercise, will close on 3 April 2025. The podium comprises 12 strata retail units, all approved for food and beverage use, and is part of a development by Frasers Property Singapore that includes 158 residential units.

Sky Eden@Bedok, located in a prime area with excellent accessibility, is the first private residential launch in Bedok Town Centre in a decade. The development is strategically positioned near Bedok’s integrated transportation hub and offers significant visibility with dual road frontage along New Upper Changi Road and Bedok Central. The residential units were fully sold by 2024, and the development is expected to receive its Temporary Occupation Permit in the fourth quarter of 2025.

The retail units, totalling approximately 1,040 square metres, are available for purchase individually, collectively, or in clusters, with prices ranging from S$1.91 million to S$5.55 million. Michael Tay, CBRE Head of Capital Markets, Singapore, highlighted the scarcity and investment appeal of suburban ground-floor strata retail units, noting their potential to command premium rents.

Sky Eden@Bedok is surrounded by densely populated HDB estates and a variety of amenities, including Bedok Hawker Centre and Heartbeat@Bedok. The area is also undergoing rejuvenation, with plans to redevelop Bedok Stadium and expand residential offerings, potentially increasing the local population and demand for retail services.

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The Singapore property market kicked off 2025 with a significant surge in sales, as developers sold 1,083 units in January. This represents a remarkable 433.5% increase from December 2024 and a 256.3% rise compared to January 2024. The strong performance was driven by two major launches: Bagnall Haus and The Orie, which together accounted for nearly 70% of total sales.

Bagnall Haus, a freehold project located near an MRT interchange, sold more than 65% of its units at a median price of S$2,494 per square foot (psf). Meanwhile, The Orie saw 680 of its 777 units snapped up at a median price of S$2,731 psf, reflecting pent-up demand in the mature estate of Toa Payoh after an eight-year hiatus.

Sales were predominantly concentrated in the Rest of Central Region (RCR) and Outside Central Region (OCR), with the RCR accounting for 71.2% of sales. One Bernam emerged as the best-selling project in the Core Central Region (CCR), with 99 units sold, benefiting from promotional offers by the developer.

Foreign buyers made 13 purchases in January, with six of these in the CCR. Singaporeans comprised 90.3% of the buyers, while permanent residents accounted for 8.5%.

Looking ahead, February is expected to continue the positive trend, with major projects like ELTA and ParkTown Residence set to book sales. Developers are projected to sell between 7,000 and 8,000 units in 2025, with property prices estimated to grow between 4% and 7% barring unforeseen circumstances.

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Singapore’s non-oil domestic exports (NODX) experienced a contraction of 3.3% month-on-month in January, according to a report by UOB Global Economics and Markets Research. This decline follows two months of strong growth, with a year-on-year (YoY) decrease of 2.1%, attributed to shifting holiday effects.

The electronics sector, a significant component of NODX, saw its growth rate slow to 9.6% YoY in January, down from 18.6% in December. This deceleration is linked to the fading of favourable base effects from August 2022 to December 2023. Key contributors to the electronics growth included integrated circuits, personal computers, and disk media products. However, non-electronics NODX fell by 4.8% YoY, with pharmaceuticals and specialised machinery leading the decline.

Despite the resilience in electronics, UOB’s report suggests that the YoY growth in this sector has likely peaked. The report notes, “The electronics cycle in both South Korea and Taiwan, which serves as a bellwether for the region, has convincingly peaked sometime in Q3 2024.”

The report also highlights potential risks from US trade policies under President Donald Trump’s “Fair and Reciprocal Plan,” which could impact global trade dynamics. Although Singapore faces lower direct tariff risks, its open economy remains vulnerable to global trade disruptions.

UOB maintains its 2025 NODX growth forecast at 1.5%, anticipating a slowdown in export momentum in the second half of the year due to tariff impacts. This forecast aligns with the official projection range of 1.0% to 3.0% by Enterprise Singapore.

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EBANX, a global payment service provider specialising in emerging markets, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). This approval allows EBANX to expand its cross-border money transfer and merchant acquisition services, enhancing its global settlement hub and benefiting over 500 enterprise merchants worldwide.

The Asia-Pacific (APAC) region is crucial for EBANX, accounting for 39% of its total processed volume in 2024. The company operates offices in Shanghai and Singapore and has recently initiated payment operations in India. João Del Valle, CEO and co-founder of EBANX, stated, “Receiving In-Principle Approval for an MPI licence in Singapore, one of the most robust ecosystems for international payments, is a testament to EBANX’s priority to meet the highest regulatory standards.”

The approval follows strategic moves by EBANX in Asia, including a partnership with YES BANK and appointing a Country Director for India. EBANX has been a key payments partner for APAC merchants for 12 years, supporting growth across various markets in Latin America and Africa. The company serves multiple sectors, including SaaS, gaming, and financial services, with clients like Canva and Alibaba.

To further its strategic growth in APAC, EBANX has relocated Fernanda De Fino, Global Director of Risk and Compliance, to Singapore. De Fino will also serve as the Executive Director of EBANX in Singapore, reinforcing the company’s commitment to the region. EBANX plans to continue expanding its team across APAC, leveraging Singapore’s strategic location and robust regulatory framework.

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New home sales in Singapore experienced a dramatic increase in January 2025, with transactions rising more than fivefold compared to the previous month. According to the Urban Redevelopment Authority (URA), sales excluding executive condominiums (ECs) soared by 433.5%, reaching 1,083 units, up from 203 units in December 2024. This marks the highest January sales since 2021, when 1,633 units were sold.

The surge was largely driven by three new project launches: The Orie, Bagnall Haus, and The Gatz. The Orie, in particular, saw overwhelming demand, selling 87.5% of its units. Its attractive location and competitive pricing, coupled with lower mortgage rates following recent interest rate cuts, contributed to its success. The project is especially appealing to HDB upgraders, given the high resale prices in Toa Payoh, and is expected to benefit from future developments in the area.

In addition to The Orie, other projects like One Bernam also performed well, with 99 units sold in January compared to just three in December. Attractive price discounts and the project’s imminent completion likely boosted sales.

Sales were predominantly concentrated in the Rest of Central Region (RCR), accounting for 71.2% of transactions, followed by the Outside of Central Region (OCR) and the Core Central Region (CCR). The luxury market, however, saw limited activity, with only two high-value transactions at Park Nova.

Looking ahead, several large-scale developments, including ELTA, Parktown Residence, and Aurelle of Tampines, are set to launch. These projects are expected to sustain the momentum, with new home prices projected to rise by 2-4% this year. An estimated 7,000 to 9,000 new homes could be sold in 2025, up from 6,469 units in 2024.

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Singapore’s small and medium-sized enterprises (SMEs) are bracing for a challenging 2025, with artificial intelligence (AI) and cyber risks at the forefront of their concerns, according to QBE Insurance’s annual SME survey. Conducted between December 2024 and January 2025, the survey gathered insights from 600 decision-makers on business risks and opportunities.

The survey highlights that two-thirds of respondents cite increased costs and reduced profitability as their primary challenges, a significant rise from the previous year. Additionally, over half of the SMEs are grappling with reduced customer spending and financial difficulties. To counter these challenges, many are turning to AI to enhance productivity, with 52% acknowledging its significant impact.

However, the enthusiasm for AI is tempered by concerns over its risks. A notable 34% of respondents view AI as a threat to business activity, up from 30% last year. Privacy and security concerns related to AI have also surged, with 66% worried about privacy issues and 51% about security breaches.

Cyber risks remain a critical issue, with only 40% of SMEs feeling fully informed about these threats, a decline from the previous year. Despite an increase in cyber events, spending on cyber insurance has decreased, with only 36% of businesses covered.

Ronak Shah, CEO of QBE Singapore, emphasised the importance of adapting workforces to AI, stating, “The proliferation of AI is not about replacing people with machines but rather about adapting our workforces to meet this new paradigm.”

As SMEs navigate these challenges, the survey underscores the need for tailored insurance solutions and a balanced approach to technology adoption.

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HIDDEN and Defence Collective Singapore have unveiled a new interactive game, Escape Quest: Operation Broken Oath, to coincide with Total Defence Day on 15 February. This innovative game, available at the Singapore Discovery Centre, aims to enhance national security awareness by immersing players in a simulated national crisis where they must make strategic decisions to protect the nation.

The game utilises an AI chatbot, Void Deck Cat, to guide players through the experience, which can be accessed via the WhatsApp chat application on any mobile device, eliminating the need for additional downloads. The initiative is designed to engage Singaporeans of all ages in national defence, encouraging them to think critically and act as stewards of security.

Lim Yee Hung, Group Chief Executive of HIDDEN, stated, “Escape Quest: Operation Broken Oath is more than just a game. It is an interactive learning experience that empowers individuals to think critically about national security and the vital role that each of us plays in keeping Singapore safe.”

Geraldine Loh, Deputy Director Programmes Cluster Head for Defence Collective Singapore, expressed enthusiasm for the collaboration, saying, “Through this initiative, we hope to inspire a culture of security mindfulness and proactive engagement where every Singaporean can play a part in making Singapore stronger.”

Tickets for the game start at S$20 per player, making it an ideal activity for corporate team-building, school groups, and anyone seeking a unique interactive adventure. With plans to expand the programme to the Singapore Navy Museum and Singapore Air Force Museum, this initiative marks a significant step in promoting national education through gamified learning.

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The Asia Video Industry Association’s Coalition Against Piracy (CAP) has praised the Singapore High Court’s recent decision to block 22 illegal streaming sites and 70 associated domains. This move aims to protect consumers from the risks associated with piracy services, including malware infections and identity theft.

The court’s order, issued on 17 February 2025, follows a similar action taken by the Premier League in November 2024. It is part of a broader effort by CAP and its members, including BBC Studios, the Premier League, DFL Deutsche Fußball Liga, and LALIGA, to combat online piracy in Singapore. These organisations have been instrumental in blocking hundreds of illegal streaming sites that offer access to popular content such as live sports, drama, and entertainment.

CAP’s General Manager, Matt Cheetham, highlighted the dangers posed by piracy services, stating, “There is now extensive evidence of the links between piracy services and consumer harm, including risks of malware infection, identity theft, and viruses.” A 2024 study revealed that users accessing pirate sites in Singapore are nearly four times more likely to encounter cyber threats compared to mainstream sites.

Furthermore, research indicates that illegal streaming devices (ISDs) are often compromised with pre-installed malware targeting personal data. These devices can be remotely hijacked, potentially leading to broader network attacks. Cheetham added, “Blocking access to piracy services is a great step in preventing this type of harm.”

The Asia Video Industry Association (AVIA) continues to lead the fight against video piracy in the region, promoting a healthier video industry through advocacy and collaboration with governments.

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Singapore’s Minister for Defence, Dr Ng Eng Hen, is currently in Germany attending the 61st Munich Security Conference (MSC), which runs from 14 to 16 February 2025. The MSC is a prestigious annual event that gathers global leaders, including heads of government, defence and foreign ministers, parliamentarians, military leaders, and security experts, to discuss pressing security issues. This year, the conference focuses on geopolitical and security developments across Europe, Asia, Africa, and the Middle East.

During the conference, Dr Ng participated in the Main Panel Discussion titled “Making Waves: Maritime Tensions in the Indo-Pacific.” He was joined by notable figures such as the Philippines Secretary of Foreign Affairs, Enrique Manalo, Fu Ying, Founding Chair of the Centre for International Security and Strategy at Tsinghua University, and US Senator Christopher Coons, a member of the Senate Committee on Foreign Relations. Dr Ng highlighted the importance of all countries adhering to a common set of rules to maintain collective peace and stability.

In addition to his panel participation, Dr Ng engaged in bilateral discussions with key international figures, including European Union Vice-President and High Representative for Foreign Affairs and Security Policy, Kaja Kallas, Ukrainian Minister of Defence, Rustem Umerov, and Dr Anwar Gargash, Diplomatic Advisor to the UAE President. These meetings underscore Singapore’s commitment to fostering international dialogue and cooperation on security matters.

As the conference continues, Dr Ng’s contributions are expected to further Singapore’s role in promoting stability and peace in the Indo-Pacific region and beyond.

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Singapore’s non-oil domestic exports (NODX) experienced a 2.1% decline in January 2025 compared to the same month last year, according to the latest data released by the Department of Statistics Singapore. This downturn comes after a significant 9% increase in December 2024, highlighting the volatility in the trade sector.

The drop in NODX is a crucial indicator of Singapore’s economic health, as it reflects the demand for goods produced in the city-state, excluding oil-related products. The decline could signal potential challenges for Singapore’s export-driven economy, which relies heavily on global trade dynamics.

The January figures underscore the fluctuating nature of Singapore’s trade performance, which can be influenced by various factors, including global economic conditions and changes in demand from key trading partners. The data release serves as a reminder of the importance of monitoring trade trends to understand the broader economic landscape.

For further details, the full press release is available on the Enterprise Singapore website, providing comprehensive insights into the monthly trade report for January 2025. As Singapore continues to navigate the complexities of international trade, these figures will be closely watched by policymakers and businesses alike to inform future strategies and decisions.

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