Industry News

FairPrice Group (FPG) has announced an expansion of its Protein Pledge initiative, aiming to improve nutrition access for seniors across Singapore. The FairPrice Foundation (FPF) will now include milk in its distributions of fresh eggs to vulnerable seniors, as part of its commitment to provide $1 million worth of fresh protein by 2030.

The initiative, first launched in March 2025, is being piloted with senior beneficiaries of FPF’s charity and community partners. This expansion follows feedback from the Stay Strong study, which highlighted that 67% of seniors recognise their need for more protein, yet many are not meeting recommended intake levels.

In addition to the Protein Pledge, FPG has introduced Xtra Senior Week, a monthly event across all FairPrice Xtra outlets. This initiative offers promotions on essential items such as milk powder, health supplements, and adult diapers, helping seniors and caregivers manage rising costs. Furthermore, FairPrice Xtra stores now feature Active Living Zones, providing a one-stop shop for senior essentials and mobility aids.

Vipul Chawla, Group CEO of FairPrice Group, emphasised the importance of these initiatives, stating: “We want to support all seniors in Singapore, regardless of background or circumstance, with getting the essentials they need to stay healthy and active in their silver years.”

These efforts are part of a broader strategy by FPG and FPF to enhance nutrition access and education for vulnerable Singaporeans, with various programmes already in place to support different community needs.

Asia-Pacific (APAC) investors are actively reshaping their portfolios in response to geopolitical uncertainties and market concentration risks, according to Schroders’ Global Investor Insights Survey 2026. The survey, conducted after the outbreak of war in Iran, highlights that 87% of APAC investors anticipate greater market volatility in the coming year, compared to 85% globally.

Geopolitical concerns, such as conflict in the Middle East and uncertainty over US foreign policy, are more pronounced among APAC investors than their global counterparts. These factors, coupled with energy security concerns, are driving a reassessment of traditional asset allocation strategies.

The survey, which included over 1,000 institutional investors and wealth managers with combined assets under management of $72t, found that APAC investors are prioritising downside protection and diversification. Only 5% plan to maintain their current strategic allocations, whilst 54% are seeking buying opportunities and 53% are increasing geographic diversification outside the US.

Active management is gaining traction, with 86% of APAC investors confident it can help achieve investment objectives. Johanna Kyrklund, Group Chief Investment Officer at Schroders, noted, “In an increasingly volatile world, investors are reshaping portfolios to put diversification and resilience front and centre.”

A holistic approach to public and private market allocations is also emerging, with more than half of APAC investors evaluating opportunities across equities, credit, and income holistically. This shift is reflected in portfolio allocations, with increased interest in private equity and credit alternatives.

Gopi Mirchandani, Head of Client Group, Asia, emphasised the need for nimble asset managers, stating, “Investors want asset managers who can be nimble, provide access to specialist exposures, and work across both public and private markets.”

The June 2026 Build-To-Order (BTO) application results reveal a total of 22,312 applicants for 6,952 flats, maintaining an application rate of 3.2, according to HDB application data as of 24 June. Realion (OrangeTee & ETC) Group noted this rate mirrors February 2026 and is slightly lower than October 2025’s 3.7, indicating that increased BTO supply is meeting current housing demand.

Bukit Merah’s Berlayar Rise project attracted the highest number of applicants, with 4,943 vying for 4-room flats. Despite higher prices and clawback rates for Prime flats, interest remains robust due to the area’s strong locational attributes and limited resale options. Christine Sun, Chief Researcher & Strategist at Realion, noted that the project’s proximity to an MRT station enhances its appeal.

Bishan’s Lakeview Cascadia project followed closely in popularity, drawing significant interest for both 2-room flexi and larger flats. The limited supply of new flats in Bishan, coupled with its proximity to top schools and an MRT station, makes it a desirable location for young families and singles.

Interestingly, Woodgrove Acres saw stronger demand than the more centrally located Kebun Baru Ridge and Breeze projects. This may be due to the longer Minimum Occupation Period and higher prices of the latter, despite their favourable locations.

The persistent high number of first-time single applicants across all projects suggests a strong interest in affordable and well-located BTO flats. This trend is expected to result in a spillover demand for future launches, as many singles may not secure a flat in this round.

Condo resale prices in Singapore experienced a notable rebound in May 2026, with the SRX Price Index showing a 1.3% month-on-month increase. This rise indicates sustained demand in the market, according to 99.co’s Chief Data & Analytics Officer, Luqman Hakim. Year-on-year, prices climbed by 3.7%, aligning with industry forecasts for the year.

Despite the price increase, the number of units resold fell to an estimated 989, marking an 8.9% decline from April’s figures. However, this volume was still 0.7% higher than in May 2025, suggesting ongoing demand momentum. The decrease in sales is attributed to typical seasonal moderation in the market.

Looking ahead to the second half of 2026, the market is expected to face challenges related to supply and affordability. Several large-scale launches in the Outside Central Region (OCR) are anticipated, with their success likely to indicate the strength of upgrader demand.

In May, resale prices in the Core Central Region (CCR) and OCR increased by 3.7% and 1.6%, respectively, whilst the Rest of Central Region (RCR) saw a slight decrease of 0.7%. The highest resale transaction was recorded at Reflections At Keppel Bay for S$19.28m.

The overall median capital gain for resale condos rose to S$419,000, with District 10 achieving the highest median gain of S$1.02m. The median unlevered return stood at 30.8%, with District 16 leading at 49.3%. These figures highlight the potential for significant returns in the resale market.

OUE Limited and Tokyo Century Corporation have formed a joint venture to acquire the Crowne Plaza Changi Airport from OUE Real Estate Investment Trust for S$500m. The acquisition, announced on 24 June 2026, was agreed upon following an independent valuation by Savills Valuation and Professional Services.

The Crowne Plaza Changi Airport, a 575-room hotel managed by InterContinental Hotels Group, is renowned for its strategic location and has been recognised as the World’s Best Airport Hotel for 11 consecutive years. The property, which includes a main wing and an extension, offers a range of facilities such as a ballroom, function rooms, and an Italian restaurant.

This acquisition marks the second collaboration between OUE and Tokyo Century, following their previous joint venture for the development of Hotel Indigo Changi Airport. The joint venture, named OUE TC Airport Hotel Trust, is equally owned by subsidiaries of both companies.

The purchase agreement includes a put and call option, allowing the joint venture to acquire the leasehold estate and business operations of the hotel. The transaction aims to strengthen the hotel’s competitive position through potential asset enhancement initiatives.

Tokyo Century, a leading Japanese financial services company, has been expanding its hotel business since 2016. This acquisition further solidifies its presence in the hospitality sector, whilst OUE continues to diversify its portfolio. The completion of the transaction is subject to various conditions, including regulatory approvals.

The 11th Singapore International Water Week (SIWW2026) concluded successfully, attracting 2,000 delegates, including 800 leaders, and 21,000 trade visitors from over 71 countries at the Sands Expo and Convention Centre from 15 to 18 June 2026. The event served as a global platform for governments, cities, utilities, academia, and industry to exchange insights and forge partnerships aimed at enhancing water security and climate resilience.

SIWW2026 featured over 100 sessions focusing on Municipal Water Solutions, Industrial Water Solutions, and Coastal and Flood Resilience. These sessions addressed practical approaches to strengthening water resilience amid climate and urbanisation pressures. The event also hosted the largest Water Expo in its history, with 500 exhibitors and 56% overseas participation, facilitating numerous business opportunities and partnerships.

Key announcements included nearly S$100m in funding under the Research, Innovation and Enterprise (RIE) 2030 Urban Solutions & Sustainability Domain, and S$14m awarded by PUB to five projects under the Coastal Protection and Flood Management Research Programme. Additionally, over 15 Memorandums of Understanding (MOUs) were signed, including those forming the Industrial Water Solutions Innovation Ecosystem Alliances.

Ryan Yuen, Managing Director of SIWW, highlighted the event’s role in fostering collaboration and innovation, stating, “SIWW2026 has shown what is possible when the global water community comes together with urgency, purpose and ambition.” The next edition, SIWW2028, is scheduled for 12 to 15 June 2028, promising continued momentum in addressing global water challenges.

Mark Lee, CEO of Sing Lun Industrial Pte Ltd, has been elected as the new chairman of the Singapore Business Federation (SBF) for the 2026-2028 term. The announcement was made during SBF’s 24th Annual General Meeting, where the 13th Council was also introduced. The Council, comprising 24 members, includes 12 elected members, one co-opted member, and 11 representatives from Trade Associations and Chambers.

The newly formed Council aims to enhance SBF’s ability to support businesses in navigating emerging opportunities and challenges. The Council includes six new members, such as Michelle Cheo, Group CEO of Mewah Marketing Pte Ltd, and Kwee Ker Wei, Director of Pontiac Hotel Private Limited, bringing diverse expertise to the table.

Following the AGM, the 5th Future Ready Business Dialogue was held, featuring Chan Chun Sing, Singapore’s Coordinating Minister for Public Services and Minister for Defence. The dialogue focused on the theme “Whole of System Readiness: What Governments and Businesses Must Do Differently,” addressing how organisations can remain resilient amidst global uncertainties.

Under Lee’s leadership, SBF plans to strengthen Singapore’s competitiveness by fostering a pro-enterprise environment and helping companies build future-ready capabilities. “This is a period of profound change for businesses,” Lee stated, emphasising the need for businesses to remain competitive and resilient.

Looking forward, SBF will focus on shaping a pro-business environment, building partnerships for growth, and strengthening support for businesses through various initiatives. As Singapore prepares for its ASEAN Chairmanship in 2027, SBF aims to deepen regional economic integration and strengthen ASEAN’s position as a global growth engine.

Wonderful has announced the expansion of its operations in Singapore, aiming to accelerate the adoption of artificial intelligence (AI) across enterprises in the Asia Pacific region. With $300m in funding, the company is set to provide a multimodel platform, local deployment teams, and Forward Deployed Engineers to facilitate AI integration at scale.

Leading the Singapore operations is Alexander Kleinberg, who brings a wealth of experience from previous roles at Google, Meta, and X. Kleinberg emphasised the importance of transforming AI ambitions into measurable business outcomes, stating, “The challenge is no longer access to technology but how to turn AI ambition into measurable business outcomes across the enterprise.”

Wonderful’s strategy involves addressing the common hurdles faced by organisations in scaling AI initiatives. The company offers three key capabilities: a deep local presence to ensure compliance with data sovereignty and regulatory requirements, Forward Deployed Engineering teams to integrate systems and establish governance frameworks, and an end-to-end enterprise AI integration platform.

Operating across 35 markets, Wonderful supports organisations in 12 industry verticals, including financial services, government, and telecommunications. The platform also enables multilingual deployments, catering to local language and cultural contexts.

As Singapore continues to establish itself as a global AI hub, Wonderful aims to help enterprises move beyond experimentation, embedding AI as a core business capability. The company’s expansion underscores its commitment to driving real transformation and delivering lasting value through AI.

Dataiku has partnered with the Singapore Red Cross (SRC) to revolutionise disaster response and public health preparedness across Southeast Asia using artificial intelligence (AI). This collaboration, part of Dataiku’s AI-for-Good Programme, provides SRC with free access to Dataiku’s AI platform, enabling the automation of previously manual disaster surveillance processes.

The AI platform has transformed SRC’s approach by improving the speed, accuracy, and quality of data collection and analysis. This shift allows for the integration of additional contextual data, such as climate trends, enhancing the organisation’s ability to anticipate and respond to disasters more effectively.

Andrew Boyd, Senior Vice President for Asia Pacific and Japan at Dataiku, highlighted the significance of this collaboration: “When AI is placed in the hands of teams on the ground, it becomes a force multiplier—enabling faster decisions, better coordination, and ultimately more resilient communities.”

In addition to disaster monitoring, the partnership has enabled SRC to forecast leptospirosis outbreaks in Thailand more accurately. By applying machine learning models to weather and environmental data, SRC can better predict outbreaks and implement early intervention measures, improving resource planning for vulnerable communities.

Charlotte Lambert, Head of Dataiku’s AI-for-Good Programme, emphasised the broader impact: “AI-for-Good isn’t about applying technology to isolated use cases—it’s about fundamentally changing how impact is delivered at scale.”

This collaboration exemplifies how AI can empower humanitarian organisations to act swiftly and precisely, ultimately protecting more lives. As Dataiku continues to support NGOs globally, this model could pave the way for enhanced humanitarian efforts worldwide.

JLL has announced the appointment of Matt Bennion as the new Head of Project and Development Services (PDS) for Asia Pacific, effective immediately. Based in Singapore, Bennion will oversee the strategic direction and operational execution of JLL’s PDS business in the region, aligning with global objectives and regional goals. This appointment follows the retirement of Martin Hinge, announced in October 2025.

Bennion, with more than 30 years of leadership experience in the built environment sector, is expected to enhance JLL’s client-focused solutions in the dynamic commercial real estate market. Susheel Koul, CEO of Real Estate Management Services, Asia Pacific, JLL, stated, “Matt’s deep regional expertise, client-centric approach, and proven track record in business transformation position our team well to stay ahead of that curve.”

Previously, Bennion was the Founding Owner and CEO of Thrive-AI, a service provider focusing on intelligent buildings, and CEO of Reds10, where he repositioned the company as a disruptor in the UK construction market. He also served as COO and later CEO of Arcadis Asia, managing a team of 4,500 across 12 countries.

In his new role, Bennion will chair the APAC PDS Executive Committee and report to Cynthia Kantor, Global CEO for Project & Development Services. Kantor noted, “Matt will be a critical component in driving the execution of JLL’s Accelerate 2030 strategy across the region.”

JLL’s PDS offers integrated solutions across the project lifecycle, serving diverse sectors such as corporate offices, data centres, and retail. The appointment underscores JLL’s commitment to leadership talent and market-leading services in Asia Pacific.