Industry News

In a remarkable display of demand, 658 out of 666 units at Skye at Holland were sold over its launch weekend, according to UOL Group Limited and CapitaLand Development. The development, located in the coveted District 10 of Singapore, attracted significant interest during its preview phase, leading to this near sell-out success.

The strong sales performance highlights the continued confidence in Singapore’s property market, driven by the project’s prime location in Holland Village. The development’s appeal spans a wide range of buyers, including Singaporeans and permanent residents, who are drawn to its MRT connectivity and proximity to prestigious schools such as Henry Park Primary School and the National University of Singapore.

The average selling price for the units was $2,953 per square foot, reflecting the premium nature of the site. The project’s success follows the earlier collaboration between UOL and CapitaLand Development on PARKTOWN Residence, underscoring their effective partnership in creating desirable residential developments.

The robust demand for Skye at Holland underscores the resilience of Singapore’s real estate market, particularly for prime locations. As the city-state continues to attract both local and international interest, developments like Skye at Holland are poised to remain highly sought after.

Mapletree Investments has announced a significant lease agreement with Agata S.A., a leading Polish furniture retailer, for 128,000 square metres of logistics space in Piotrków Trybunalski, Poland. This deal includes a 10-year extension of an existing lease for 87,000 sqm and a new 10-year lease for a 41,000-sqm built-to-suit logistics development, Piotrków II DC3. The transaction is the largest warehouse lease in Poland for 2025.

The new development, Piotrków II DC3, will be strategically located near the A1 motorway and S8 expressway, enhancing Agata S.A.’s operational capabilities and supply chain efficiency across Poland. Ralph van der Beek, CEO of Commercial and Logistics, Europe at Mapletree, expressed excitement about the partnership, stating, “This decision reflects the enormous trust they place in Mapletree and affirms Central Poland’s strong position on Europe’s logistics map.”

Piotrków II DC3 will adhere to BREEAM Excellent certification standards, featuring sustainable elements such as a greywater recovery system and photovoltaic-ready roofing. Completion is expected by early 2027.

Since entering the Polish market in 2018, Mapletree has amassed a portfolio valued at approximately $1b (EUR943m), covering 1.22 million sqm of office and logistics space. The properties Piotrków II DC1 and DC2 are part of Mapletree US & EU Logistics Private Trust, which manages $4.3b in assets. This new agreement with Agata S.A. is set to bolster the trust’s European portfolio resilience.

Simon Chisholm has been appointed as Chairman of Asia for Aon’s Reinsurance Solutions, effective 1 January 2026. Chisholm will spearhead the Global Clients Segment in Asia, focusing on strengthening ties with key clients in Japan and Thailand. With nearly 40 years of experience, including leadership roles with Aon’s largest global reinsurance clients, Chisholm is well-equipped to align client needs with strategic solutions across Asia, Europe, and the US.

Chisholm’s appointment underscores Aon’s dedication to providing tailored insights and value to multinational clients navigating complex risk environments. Based in Singapore, he will report to Soeren Soltysiak, CEO of Reinsurance Solutions in Asia. Rupert Moore, APAC CEO for Reinsurance Solutions at Aon, remarked, “Simon plays a central role on our Japan and Asia teams, partnering with many of the region’s largest insurers to deliver client value and support better decision-making.”

Aon plc, a leading global professional services firm, aims to shape decisions for the better, offering clients in over 120 countries the clarity and confidence to make informed risk and people decisions. The appointment of Chisholm is part of Aon’s ongoing commitment to enhancing its talent and expertise across the region, ensuring that clients receive the best possible support in managing their risks.

Singapore and New Zealand have officially launched the Comprehensive Strategic Partnership (CSP), a significant initiative designed to enhance bilateral relations across various sectors. The partnership, announced today, seeks to deepen cooperation in areas such as trade, defence, and cultural exchange.

The CSP is expected to facilitate increased economic collaboration, with both nations aiming to leverage each other’s strengths in technology and innovation. This partnership will also focus on enhancing security cooperation, addressing regional challenges, and promoting peace and stability in the Asia-Pacific region.

In addition to economic and security aspects, the CSP will foster cultural and people-to-people exchanges, strengthening the social fabric between the two countries. This includes initiatives to promote educational exchanges and collaborative research projects.

The launch of the CSP marks a new chapter in the longstanding relationship between Singapore and New Zealand. Both countries have expressed optimism about the potential benefits of this partnership. “The CSP will serve as a cornerstone for our future cooperation, enabling us to address shared challenges and seize new opportunities,” a spokesperson stated.

Looking ahead, the CSP is expected to pave the way for more robust and dynamic interactions between Singapore and New Zealand, contributing to regional prosperity and development.

Lucien Wong has been reappointed as Singapore’s Attorney-General for a further three-year term, commencing on 14 January 2026 and concluding on 13 January 2029. This marks his third reappointment since he first assumed the role on 14 January 2017. Wong’s continued leadership is expected to provide stability and continuity within the Attorney-General’s Chambers (AGC).

Wong’s reappointment underscores the confidence placed in his leadership and legal expertise. His tenure has been characterised by significant contributions to Singapore’s legal landscape, ensuring the effective administration of justice. The decision to extend his term reflects the government’s trust in his ability to uphold the rule of law and navigate complex legal challenges.

The AGC plays a crucial role in advising the government on legal matters, representing the state in legal proceedings, and ensuring that laws are applied fairly and consistently. Wong’s reappointment is seen as a strategic move to maintain the momentum of ongoing legal reforms and initiatives.

As Wong prepares to embark on his new term, the focus will likely remain on enhancing the efficiency and effectiveness of the AGC, as well as addressing emerging legal issues in a rapidly evolving global environment. His leadership is expected to continue shaping the future of Singapore’s legal system.

Texel Asia, a leading independent credit and political risk insurance broker, has announced the addition of two seasoned professionals to its Singapore office. Jamie Stork joined as an associate director on 22 September, whilst Brandon Woo is set to join as a broker on 3 November. Both will report to Angela Chang, managing director of Texel Asia. This strategic move aims to bolster the company’s expertise in response to increasing demand for credit and political risk insurance in the Asia Pacific region.

Jamie Stork brings eight years of experience from Marsh/JLT, where he most recently served as vice president in structured credit and political risk. His career began at JLT in London before relocating to Singapore with Marsh in 2023. Brandon Woo, who joins from WTW, has been in the industry since 2019 and was promoted to divisional director for Financial Solutions, Asia Pacific in March 2024. Prior to WTW, he worked as a financial planning consultant at AXA.

Angela Chang expressed enthusiasm about the new hires, stating, “We have been steadily adding to our team over the past 12 months to support our growth ambitions in the region, and it is great to be entering the final quarter of 2025 with another two experienced hires in the form of Jamie and Brandon.”

The appointments underscore Texel’s commitment to attracting diverse and skilled professionals to maintain its reputation for excellence and innovation. As Texel Asia continues to expand, the new team members are expected to enhance the company’s ability to deliver top-tier advice and solutions in the insurance sector.

The Singapore Motorshow 2026 is set to be the largest in its history, featuring over 38 automotive brands across an expanded 21,000 square metres at Suntec Singapore Convention & Exhibition Centre from 8 to 11 January. This year’s event will span four levels, including a newly added Level 6, offering visitors a comprehensive look at the latest in automotive innovation, from luxury vehicles to cutting-edge electric vehicles (EVs).

The motorshow will feature a diverse array of brands, including Audi, BMW, Hyundai, and Mercedes Benz, as well as innovative Chinese EV brands like BYD and NIO. Attendees will have the opportunity to explore new car launches and the latest petrol, hybrid, and EV models. Glenn Tan, President of the Motor Traders Association of Singapore, highlighted the event’s significance, stating, “The Singapore Motorshow has grown beyond being just a showcase of cars; it is now a key platform for driving innovation, sustainability, and growth in Singapore’s automotive industry.”

Mediacorp, partnering with the Motor Traders Association, aims to amplify the event’s reach. Jacqui Lim, Mediacorp’s Chief Commercial Officer, expressed excitement about the collaboration, noting the event’s potential to generate widespread interest through Mediacorp’s extensive channels.

Visitors can engage in interactive activities, exclusive offers, and experiential showcases, including a chance to win a Dongfeng Box in the Singapore Motorshow 2026 Lucky Draw. General admission tickets are priced at $10, with limited preview tickets available for $20, offering early access on 8 January.

The Urban Redevelopment Authority has concluded the land tender for a site at Dorset Road, launched under the first half of 2025 Government Land Sales programme. The site, which can accommodate approximately 425 units, received nine bids, surpassing expectations. United Venture Development (2022) Pte. Ltd submitted the highest bid at S$524.3m or about S$1,338 per square foot per plot ratio, slightly above the next highest bid from a consortium including ABR Holdings Limited and others.

Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted that the high number of bids reflects confidence in the site’s future sales performance. The location’s appeal is bolstered by its proximity to amenities such as Farrer Park MRT Station, City Square Mall, and educational institutions like Farrer Park Primary School.

The last Government Land Sales site in the area, Northumberland Road, was awarded in May 2021 and developed into Piccadilly Grand, which sold 77% of its units during its launch weekend in 2022. A recent subsale in July 2025 saw prices 15.5% higher than the launch average, indicating strong demand.

The upcoming project is expected to attract HDB upgraders, supported by robust resale prices of flats in Kallang/Whampoa. Additionally, its central location and connectivity make it appealing to young professionals and investors seeking rental opportunities.

Asia-Pacific has slipped from third to fourth place in global fraud protection, according to Sumsub’s latest Global Fraud Index. The report, released on 9 October, highlights increasing fraud exposure in the region, which now ranks just above Africa and behind Europe, the Middle East, and the Americas. Despite this, Singapore leads globally in government intervention, surpassing countries like Luxembourg and Denmark.

The study, conducted with Statista and the Digital Assets Association (DAA) Singapore, assessed fraud risk across 112 countries. It revealed that whilst New Zealand and Thailand have improved their fraud protection, key digital economies such as Singapore, Japan, Indonesia, and Malaysia have seen significant declines in their rankings. Timothy Owens, a tech and AI industry expert at Statista, noted, “Fraud protection isn’t about geography; it’s about governance.”

Singapore, despite its drop from first to tenth place, remains a leader in government intervention, reflecting its commitment to a robust anti-fraud infrastructure. The DAA’s Co-Chairman, Chia Hock Lai, emphasised the need for a unified response to sophisticated fraud, stating, “This isn’t just about statistics; it’s about protecting businesses.”

The 2025 Global Fraud Index offers insights into emerging threats and effective preventative measures, urging businesses and regulators to strengthen anti-fraud strategies. The report also expands its scope to include new countries like the Philippines and Vietnam, providing a comprehensive view of global fraud exposure. Sumsub will host its inaugural “What The Fraud” Summit in Singapore from 19 to 20 November, aiming to foster public-private partnerships in fraud prevention.

The National University Hospital (NUH) has introduced its Appropriate Care (Apt Care) initiative, focusing on delivering patient-centred care that maximises health outcomes whilst reducing inefficiencies. Launched in March 2024, the campaign aims to create a collaborative healthcare environment where patients actively participate in their treatment plans, potentially reducing medication and unnecessary tests.

One of the key projects under the Apt Care initiative is the end-of-life care pathway for cancer patients, developed in collaboration with the National University Cancer Institute, Singapore. This programme, launched in October 2024, employs a multidisciplinary approach to enhance patient comfort by minimising non-essential medications and procedures. Between October 2024 and August 2025, 108 patients benefited from reduced vital sign checks and blood glucose monitoring, saving up to $740 per patient.

Another significant project targets unnecessary blood glucose monitoring for inpatients. Initiated in September 2024, this project has halved the average daily blood glucose tests for 87 patients, without increasing hypoglycaemia or hyperglycaemia rates. Dr Ada Teo, the project lead, noted that the initiative has improved patient experiences and reduced costs, with 85% of nurses expressing confidence in the new workflow.

NUH plans to expand its Apt Care efforts by reducing duplicative tests, minimising inappropriate medication, and consolidating appointments to improve care coordination. Adj A/Prof Amelia Santosa, co-lead of the Apt Care campaign, emphasised the importance of these initiatives in addressing the needs of Singapore’s ageing population and enhancing healthcare value.