Regional News

Cushman & Wakefield has appointed Chloe Teo as Senior Director for Asia Pacific Tenant Representation, a move aimed at bolstering the firm’s advisory capabilities in the region. Teo, who brings over 20 years of real estate experience, will spearhead strategic initiatives to assist multinational companies in navigating complex real estate decisions across Asia Pacific. She will report to Arpita Srivastava, Managing Director of Advisory & Transactions for Asia Pacific Tenant Representation and Global Capability Centre Advisory.

Teo’s appointment is seen as a strategic enhancement to Cushman & Wakefield’s multi-market advisory services. Srivastava noted, “Singapore is a strategic gateway market in Asia. Chloe’s strong local and regional expertise adds greater depth to our multi-market APAC Tenant Representation Advisory capability.”

Based in Singapore, Teo is focused on developing workplace strategies that drive expansion and enable smart portfolio decisions. She expressed enthusiasm about her new role, stating, “I’m excited to join Cushman & Wakefield and to be part of a fast-growing team driving workplace strategy across Asia Pacific.”

Cushman & Wakefield, a leading global commercial real estate services firm, employs approximately 52,000 people in nearly 400 offices across 60 countries. In 2024, the firm reported revenue of $9.4 billion. Teo’s role is expected to further strengthen the firm’s ability to deliver tailored solutions and impactful outcomes for clients in the region.

The Porsche Singapore Classic is set to captivate golf enthusiasts and Porsche fans alike as it returns to the Laguna National Golf Resort Club from 20 to 23 March. The event promises a blend of high-calibre golf and unique Porsche experiences, featuring top golfers such as Paul Casey, Jimmy Walker, and Robert MacIntyre. The tournament will also showcase a Taycan Turbo S as the coveted hole-in-one prize.

The event, part of the DP World Tour, aims to solidify its reputation as a premier golfing event in Asia. Deniz Keskin, Director of Brand Management and Partnerships at Porsche AG, emphasised the tournament’s role in providing “emotional brand experiences for customers and fans.” The tournament will feature over two dozen DP World Tour winners and rising stars, including 17-year-old Singaporean Brayden Lee.

Beyond the golf course, Porsche will offer a range of attractions, including the Porsche Taycan Challenge and an exclusive VIP programme for international guests. The programme includes access to the Porsche Villas and a series of evening events, enhancing the overall experience for attendees.

Timo Bernhard, a two-time World Endurance champion, will also be present, engaging with fans and sharing insights into racing culture. Additionally, a fleet of Porsche Taycan and Cayenne models will be available for professional golfers and VIP guests to test drive.

The Porsche Singapore Classic not only highlights Porsche’s commitment to golf but also its dedication to creating memorable experiences for its community. Tickets for the event are available on the DP World Tour website.

Equator Renewables Asia (ERA), a Singapore-based renewable energy firm, has partnered with CRE International Co., Ltd (CREI), a subsidiary of China National Nuclear Corporation, to develop a multi-billion dollar clean energy project. The initiative, announced at the Asia Clean Energy Summit 2025, involves constructing a 900MWp photovoltaic and 1.2GWh battery energy storage system in the Riau Islands, Indonesia, with completion expected by 2029.

The project marks the first under ERA’s Singapore-Indonesia renewable energy programme, for which ERA holds a conditional licence from Singapore’s Energy Market Authority to import 400MWac of clean energy. This aligns with Singapore’s commitment to achieving net zero emissions by 2050 and its plan to import six gigawatts of low-carbon electricity by 2035.

CREI will handle the investment, construction, and operation of the solar and battery facilities, whilst ERA will manage the transmission and offtake coordination. Frank Phuan, ERA’s founder and CEO, expressed optimism about the demand for low-carbon energy in Singapore, stating, “This utility-scale project is the first and major step for ERA to turn vision into impact.”

Once operational, the project is expected to generate approximately 2,100GWh of renewable electricity annually, enough to power over 350,000 Singapore households and offset more than one million tonnes of CO₂ each year. Sun Jinfeng, CREI’s Singapore Country Manager, highlighted the collaboration’s potential, noting, “Leveraging CNNC’s global engineering experience and ERA’s regional experience, this project will showcase the potential of large-scale solar and storage integration in Southeast Asia.”

Knight Frank Singapore has reported a significant uptick in auction activity for the third quarter of 2025, driven by easing interest rates and increased electronic bidding. The total number of auction listings rose to 132, marking a 10% quarter-on-quarter increase and a 53.5% rise compared to the same period last year. Gross sales value reached $20.1m (S$27.4m), a 28.7% increase from the previous quarter and a staggering 355.4% year-on-year growth.

The industrial and residential sectors led the momentum, with nine properties sold at auction, including a notable sale of a freehold industrial property at 108 Tagore Lane for $6.7m (S$9.1m), 6.8% above its opening price. Sharon Lee, Head of Auction & Sales at Knight Frank Singapore, highlighted the role of their electronic bidding platform in broadening exposure and facilitating real-time engagement.

Mortgagee sales were a significant contributor, with 85 listings, up 32.8% from the previous quarter. Of the nine properties sold, seven were mortgagee sales, indicating a trend where easing interest rates are making leveraged acquisitions more attractive. Notably, a two-bedroom flat at Astoria Park sold at a 3.3% premium, whilst a ramp-up factory at Yishun Industrial Street 1 achieved a 2.2% gain.

The auction market’s growing appeal is underscored by increased listings of residential, industrial, and retail properties, despite a decline in office asset listings. The expanded use of electronic bidding has enhanced auction visibility, attracting both local and overseas buyers. As interest rates continue to moderate, Knight Frank anticipates sustained interest in the auction market, particularly in the industrial and residential segments.

Universal Vapor Jet Corporation (UVJC), a subsidiary of Universal Display Corporation, has inaugurated its global headquarters and research and development (R&D) centre in Singapore’s Mapletree Hi-Tech Park. The 8,000-square-foot facility will house the company’s headquarters, a state-of-the-art R&D centre, laboratory, and prototype manufacturing space to advance its Universal Vapor Jet Printing (UVJP) technology.

Over the next five years, UVJC plans to invest $36.5m (SGD 50m) in tools, equipment, and talent to accelerate the research and commercialisation of UVJP. Supported by the Singapore Economic Development Board (EDB) and the Agency for Science, Technology and Research (A*STAR), the initiative is expected to create high-value jobs in strategy, technology, and advanced engineering.

UVJP is a dry, solvent-free printing and deposition technology designed to meet the demands of precision additive manufacturing. “At UVJC, we’re not just building equipment, we’re building the foundation for the next generation of clean manufacturing,” said Chandran Nair, CEO of UVJC. The technology aims to open new possibilities across semiconductors, displays, life sciences, and clean energy.

The establishment of the Singapore headquarters underscores UVJC’s commitment to innovation and positions the city-state as a global hub for precision manufacturing. Collaborations with local research institutions, including several A*STAR Research Institutes, are planned to co-develop solutions that support greener and more precise production.

Steven V. Abramson, President and CEO of Universal Display Corporation, highlighted the significance of the new facility, stating it marks “a pivotal step in the evolution of Universal Vapor Jet Printing.” The move is expected to drive more efficient, cost-effective manufacturing across various industries.

Malaysia, in collaboration with the World Economic Forum (WEF), has announced the launch of the ASEAN AI Safety Network at the Powering the Intelligent Age Summit in Kuala Lumpur. This initiative, part of Malaysia’s ASEAN Chairmanship, seeks to advance safe and inclusive artificial intelligence (AI) adoption across the region, aligning with sustainability and trust.

The summit, hosted by the Malaysia Centre for the Fourth Industrial Revolution (MYCentre4IR), drew over 400 delegates from 14 countries, including policymakers, corporate leaders, and researchers. It highlighted Malaysia’s role as a convener of regional dialogue on technology governance and innovation, with a focus on digital transformation and energy transition.

A key feature of the summit was the unveiling of the Sustainable AI White Paper, developed in partnership with MYCentre4IR and ERM, with input from Microsoft. This document aims to guide responsible and energy-efficient AI deployment in ASEAN.

Digital Minister Gobind Singh Deo emphasised Malaysia’s ambition to become an AI Nation by 2030, supported by trusted governance and inclusive talent development. “The ASEAN AI Safe marks an important step forward,” he stated, underscoring the importance of collaboration in ensuring technology benefits all communities.

Cathy Li from the WEF highlighted the region’s potential to shape global AI standards, stressing the need for a shared governance framework that fosters trust and sustainability. The summit also featured discussions on industrial transformation, focusing on data platforms, automation, and clean energy integration.

The event underscored the convergence of AI and industrial sustainability as drivers of ASEAN’s future competitiveness, with Malaysia committed to aligning its digital ambitions with regional sustainability and inclusivity themes.

The National Robotics Programme (NRP) has announced a series of initiatives to boost robotics adoption and talent development in Singapore. These initiatives were unveiled at ROSCon 2025, the premier conference for open-source robotics, hosted in Singapore for the first time. The event gathered global developers, researchers, and industry leaders to discuss advancements in the Robot Operating System (ROS) and the Robotics Middleware Framework (RMF).

Among the new initiatives is the establishment of ELEVATE @ BCA Braddell Campus, a national sandbox for RMF. This testbed will allow various stakeholders to collaborate and validate robotic interactions in facilities management. The sandbox aims to drive RMF adoption across industries, with companies like Black Sesame Technologies and Panasonic already participating.

Additionally, Singapore introduced two national standards for robot interoperability: Singapore Standard 713 and Technical Reference 130. These standards provide guidelines for robot communication with infrastructure, aiming to enhance safety and scalability in robotics deployment. Efforts are underway to elevate SS 713 to an international ISO standard.

To address the talent gap, the ROS Train-and-Place Programme was launched by the ROS-Industrial Consortium Asia Pacific and SGInnovate. This initiative connects trained individuals with industry opportunities, leveraging SGInnovate’s network to place talent in companies such as AiTreat and Fabrica AI.

These initiatives position Singapore as a global hub for robotics innovation, fostering collaboration and setting benchmarks for the industry. As the country continues to develop its robotics ecosystem, it aims to contribute significantly to the global open-source community.

Singapore’s leading co-living operator, Coliwoo, has announced the launch of its initial public offering (IPO) on the Singapore Exchange (SGX) Mainboard, with shares priced at S$0.60 each. The IPO is set to raise approximately $70.4m (S$96.2m), including cornerstone subscriptions, with trading expected to commence at 9:00 am on 6 November 2025.

The offering comprises around 80.3 million shares, split into 75 million placement shares and 5.3 million public offer shares, subject to an over-allotment option. Notably, nine cornerstone investors have committed to new shares valued at approximately $38.6m (S$52.8m). These investors include prominent names such as Albizia Capital, Avanda Investment Management, and UOB Asset Management, amongst others.

Coliwoo’s IPO marks a significant milestone for the company, which has established itself as a leader in Singapore’s co-living sector. The funds raised are expected to support the company’s expansion plans and enhance its market presence. The involvement of high-profile cornerstone investors underscores the confidence in Coliwoo’s business model and growth potential.

The trading debut on SGX Mainboard is anticipated to attract significant attention from investors, given the company’s strong market position and the growing demand for co-living spaces in urban areas. As Coliwoo steps into the public market, it aims to leverage the raised capital to further solidify its leadership in the co-living industry.

Condo resale prices in Singapore saw a decline in September 2025, with overall prices dropping by 1% month-on-month, according to the latest 99-SRX Media Flash Report. Despite this decrease, resale volumes increased by 1.6% from August, indicating that buyers are capitalising on the price dip to enter the market.

The report highlights that prices in the Core Central Region (CCR) and Rest of Central Region (RCR) fell by 2.8% and 0.5%, respectively, whilst prices in the Outside Central Region (OCR) remained stable. This trend is attributed to anticipation surrounding new launches, such as Skye at Holland, which drew attention away from older resale projects. Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that “softer prices in the CCR and RCR created opportunities for some to purchase centrally located properties at more attractive price points.”

Year-on-year, overall prices increased by 3.4%, with the CCR, RCR, and OCR experiencing rises of 3.4%, 2.4%, and 5.2%, respectively. The highest resale transaction in September was a unit at The Marq on Paterson Hill, sold for $14,000,000 (S$19,180,000).

The report also revealed that the overall median capital gain for resale condos was $260,000 (S$357,000), a decrease of $17,000 (S$23,000) from August. District 11 posted the highest median capital gain at $662,000 (S$909,000), whilst District 1 recorded the lowest at $57,000 (S$78,000).

As the year-end approaches, the market may see further activity as buyers aim to finalise purchases before the December slowdown.

Bank of Singapore has announced the appointment of two senior relationship managers, Che Yan and Hank Chen, to its Hong Kong branch, aiming to strengthen its presence in the Greater China region. This strategic move follows a significant increase in the branch’s relationship manager headcount last year, which grew by nearly 30%, with a majority possessing extensive industry experience.

Che Yan, with nearly 20 years in cross-border finance, previously held roles at China Minsheng Bank, where she focused on corporate banking and ultra-high-net-worth client management. Meanwhile, Hank Chen brings 25 years of experience, having served as an Executive Director at J.P. Morgan Private Bank, specialising in investment advisory and asset allocation.

The Hong Kong branch has already surpassed its 50% assets under management (AUM) growth target for the 2024–2026 period, achieving this milestone more than a year ahead of schedule. Rickie Chan, Head of Private Banking, Greater China, and Chief Executive of the Hong Kong Branch, expressed enthusiasm about the new appointments, stating, “Their appointments reflect our continued success in attracting experienced, quality talent who are excited to be part of our growth journey, reaffirming the strength and appeal of our brand.”

The addition of Che Yan and Hank Chen is expected to further enhance the bank’s capabilities in serving high-net-worth and institutional clients across the region, reinforcing its commitment to delivering exceptional banking services in Greater China.