Industry News

The Singapore government has announced its land sales programme for the second half of 2026, maintaining a stable supply of private housing to meet ongoing demand. PropNex highlights a significant focus on the Rest of Central Region (RCR), with four of the nine Confirmed List sites located in this sub-market. Additionally, there is a strategic adjustment in the supply of executive condominium (EC) units, reflecting recent policy changes.

The Confirmed List for 2H 2026 will offer 4,745 private homes, including 735 EC units, marking a 3.7% increase from the first half of the year. This represents the highest half-yearly supply since 1H 2025. The programme includes eight residential sites and a White site in the Jurong Lake District, with several sites moved from the Reserve List to the Confirmed List.

Kelvin Fong, CEO of PropNex, commented, “The steady supply of private housing sites indicates the government’s commitment to balancing the residential property market amid strong demand.” He noted that the ample supply suggests confidence in the underlying housing demand.

Key sites in the programme include the Town Hall Link in Jurong Lake District, which will feature a mixed-use development with 1,200 homes, and the Marina Gardens Lane site, offering 390 units. The Orchard Boulevard site, expected to yield 110 units, is also anticipated to attract interest due to its prime location.

The EC supply for 2H 2026 is set at 735 units, slightly higher than the first half, but overall lower than 2025. This measured approach likely reflects a transitional phase as the government assesses market responses to new EC measures introduced in May 2026.

CapitaLand Ascendas REIT (CLAR) has announced the acquisition of a modern logistics property at 5 Tuas Avenue 5 in Singapore for S$133.9m. The purchase, made from Hup Hin Transport Co Pte Ltd, is expected to be distribution per unit (DPU)-accretive, enhancing CLAR’s income stream with a projected DPU accretion of 0.033 Singapore cents or 0.2%.

The property, completed in 2021, is a seven-storey ramp-up logistics facility with a gross floor area of 50,160 square metres. It features direct ramp access for large container lorries and boasts a 100% occupancy rate with a weighted average lease expiry of five years. The acquisition price represents a 1.5% discount to its independent market valuation of S$136 million as of 1 February 2026.

William Tay, CEO of CapitaLand Ascendas REIT Management Limited, highlighted the strategic significance of the acquisition, stating, “5 Tuas Avenue 5 will enhance our presence in western Singapore, benefiting from structural demand drivers, including the expansion of Tuas Mega Port.”

The acquisition is part of CLAR’s broader strategy to strengthen its logistics portfolio, which will now account for approximately 26.2% of its total portfolio value of S$18.7b. The total investment cost is estimated at S$136.5m, including acquisition fees and related expenses, to be financed through equity and debt.

The transaction is expected to be completed by the second half of 2026, further solidifying CLAR’s position in the logistics sector across Singapore, Australia, the US, and the UK/Europe.

The Assembly Place (TAP) and TS Home have announced a joint venture to transform the historic Phoenix Park in Singapore into the country’s largest community living destination. The development will feature over 700 co-living units integrated with wellness, food and beverage (F&B), and sports facilities, marking the most ambitious project in Singapore’s co-living sector to date.

Located at 300-320 Tanglin Road, Phoenix Park spans 610,487 square feet and includes colonial-era buildings. The site, a historic landmark since 2012, will be redeveloped into a vibrant community hub. TAP’s Executive Director and CEO, Eugene Lim, stated, “Phoenix Park is not just a real estate project — it is an opportunity to redefine what community living means in Singapore.”

The joint venture, TSTAPPRH Pte. Ltd., will oversee the site’s operational management. TAP holds a 39% stake in the venture, whilst TS Home holds the master tenancy awarded by the Singapore Land Authority. The project is TAP’s third collaboration with TS Home, following successful projects like Singapore’s first intergenerational co-living residence.

The redevelopment will include wellness facilities, sports amenities, and F&B outlets, aiming to create a fully integrated live-work-wellness ecosystem. TS Home’s Director and COO, Oh Boon Shi, emphasised the project’s commitment to delivering a vibrant community living destination.

With the addition of Phoenix Park, TAP strengthens its portfolio towards its target of 10,000 keys by 2030, addressing the growing demand for flexible and connected living solutions in Singapore.

Stoneweg Europe Stapled Trust (SERT) has announced the divestment of its French asset, Parc de Meslay, to SNC France Plateformes, a subsidiary of the current tenant’s group, for €5.7m (approximately S$8.5m). The transaction, which is expected to complete in October 2026, is part of SERT’s strategy to optimise its portfolio and increase its focus on logistics, light industrial, and data centres.

Parc de Meslay, a fully leased cold-storage logistics facility, spans approximately 5,613 square metres and is strategically located near Tours, France. The sale price represents a 3.3% premium over the latest independent valuation conducted on 31 December 2025. The proceeds from this divestment will be reinvested into opportunities aligned with SERT’s strategy or used for general working capital.

Simon Garing, CEO of the Manager, stated, “The divestment of Parc de Meslay is part of SERT’s ongoing portfolio optimisation initiatives, consistent with our previously communicated strategy and part of the announced €70m in divestments that SERT is targeting for 2026, supporting long-term, risk-adjusted returns for securityholders.”

Post-divestment, SERT’s portfolio will maintain a weighting of over 61% in logistics, light industrial, and data centres, with Western Europe and the Nordics comprising more than 90% of the portfolio. This move supports SERT’s aim to increase its exposure to these sectors to over 70% by 2027, alongside advancing its data centre development pipeline.

The transaction reflects SERT’s disciplined asset management approach, aimed at sustaining stable distributions and long-term growth for its securityholders.

The Singapore government has announced its Government Land Sale (GLS) Programme for the second half of 2026, maintaining a stable supply of over 9,000 new non-landed private homes. This includes 4,745 units on the Confirmed List, closely mirroring the 4,575 units from the first half of the year. The programme also signals a strategic shift towards decentralising commercial office activity, with the Town Hall Link site moved from the Reserve List to the Confirmed List.

Leonard Tay, Head of Research at Knight Frank Singapore, noted the absence of new commercial sites in the Downtown Core Planning Area, which could lead to increased rental premiums in the central business district (CBD) when economic conditions improve. Tay highlighted the potential of decentralised locations like Jurong East, suggesting that a forward-looking discounted office rent could attract businesses to these areas.

The Confirmed List includes notable sites such as Orchard Boulevard, East Coast Road, and Jurong East Avenue 1. The Orchard Boulevard site, positioned in a quieter area near the bustling Orchard Road, is expected to appeal to luxury residential buyers. Meanwhile, the East Coast Road site offers a boutique residential development opportunity in the Siglap enclave, though its minimum unit size may limit scalability.

Jurong East Avenue 1, an Executive Condominium (EC) site, is anticipated to attract developers and buyers due to its proximity to established residential areas and future transport links. The Town Hall Link site in Jurong East is poised to become a significant integrated development, potentially yielding 1,200 homes and substantial office and retail space. However, the success of decentralised office spaces remains uncertain amongst large corporates.

Singapore has been ranked as the most operationally efficient market in the Asia-Pacific (APAC) region, according to the Vistra Friction Index 2026. The report highlights that businesses navigating regional complexities can gain a competitive edge by effectively managing operational friction. This efficiency is crucial for companies expanding in high-growth economies, where the benefits of overcoming such challenges often surpass the costs.

The Vistra Friction Index evaluates 12 markets across APAC and the Middle East, using a Market Attractiveness Scorecard and a Friction Index. These tools assess factors like economic resilience and regulatory complexity, providing businesses with a strategic guide for aligning growth ambitions with execution realities. Melanie Leydin, Executive Vice President of Global Solutions, South East Asia, stated, “The businesses set to win in Asia-Pacific are those that stop treating complexity as a problem to solve and start treating it as a position to hold.”

The report categorises markets into four strategic profiles: Fast-Track, Competitive Advantage, Efficiency, and Precision Entry Markets. Singapore, along with Australia and Hong Kong SAR, is identified as a Fast-Track Market, offering streamlined regulation and deep talent pools. However, Singapore faces a talent shortage, with 164 open tech jobs for every 100 qualified seekers, leading to a 25% wage premium for critical roles in AI, cloud, and cybersecurity.

Tiffany Lim, Market Lead for Singapore and ASEAN, noted, “Singapore’s unparalleled efficiency is where the opportunity lies. Firms that can mitigate talent crunches and compliance burdens will be best positioned to scale operations across Southeast Asia.” The Vistra Friction Index underscores the importance of managing operational friction as a key differentiator in global expansion.

DFI Retail Group and UK-based health retailer Holland & Barrett have announced a strategic partnership aimed at expanding access to wellness solutions across Asia. This multi-year collaboration will integrate Holland & Barrett’s 155-year heritage in wellness with DFI’s extensive retail network, initially targeting markets in Singapore and Hong Kong.

The partnership comes as Asian consumers increasingly seek preventive and personalised health solutions. Gordon Farquhar, International Managing Director of Holland & Barrett, stated, “As demand for wellness continues to grow across Asia, we are delighted to partner with DFI to bring our heritage and trusted wellness solutions to millions more consumers across the region.”

Under the agreement, DFI will serve as Holland & Barrett’s distribution partner, with plans to expand across the region in the coming years. Andrew Wong, CEO of Health & Beauty at DFI Retail Group, commented, “This partnership is a pivotal step in our journey to deepen our position as the Trusted Adviser for Wellness across Asia.”

Customers can expect a curated range of science-led wellness products, including vitamins and supplements, available both in-store and online. The partnership also promises technology-enabled wellness services, such as AI-powered skin and scalp assessments, to enhance the customer experience.

The collaboration marks a significant milestone in Holland & Barrett’s international expansion strategy and reinforces DFI’s ambition to become Asia’s Trusted Adviser for Wellness. The partnership officially launched in Singapore this month, with further market rollouts planned across Asia.

Handshake Finance, a fintech company based in Singapore, has successfully raised S$500,000 in a pre-seed funding round to develop its escrow-as-a-service platform. The funding will primarily support the company’s expansion within the renovation and interior design sector in Singapore, with plans to extend its services to other industries facing similar trust issues.

Founded in September 2025 by Christopher Chan and Lee Jun Xian, Handshake Finance was inspired by personal experiences of trust failures in service transactions. Chan and Jun Xian, who met as university classmates in London, identified a recurring problem where either the customer pays before work is completed or the provider works without upfront payment, leaving one party at risk. Their platform aims to mitigate this risk by holding funds in escrow and releasing them upon completion of agreed milestones.

The company operates on a bank-grade payment infrastructure, fully regulated by the Monetary Authority of Singapore (MAS), with funds held in segregated accounts at DBS. “We are trying to solve a structural trust gap in service industries,” said Chan. “Our users have to trust us, and ensuring every fund flow is compliant is our top priority.”

Handshake Finance has already onboarded over 40 interior design companies and signed partnerships with Renonation.sg and Network SG to boost awareness and adoption. Jun Xian expressed excitement about the support received, stating, “We are laser-focused on fixing renovation first before expanding to other markets.”

The platform’s innovative approach includes AI-generated transaction structures and offers mediation services, aiming to improve the transactional experience for both homeowners and service providers.

FOMO Pay, a prominent Singapore-based payment institution, is set to launch DuitNow QR acceptance in Singapore, allowing Malaysian travellers to make payments using their familiar banking apps. This initiative comes ahead of the Johor Bahru-Singapore Rapid Transit System (RTS) Link, which is expected to commence operations in January 2027, transporting up to 40,000 passengers daily.

The introduction of DuitNow QR aims to support Singapore merchants by catering to the increasing number of Malaysian visitors. By enabling payments in Malaysian Ringgit (MYR) whilst settling in Singapore Dollars (SGD), FOMO Pay simplifies the payment process for merchants, eliminating the need for separate setups or manual currency handling.

Rose Wang, Head of Digital Payments at FOMO Pay, highlighted the significance of this development, stating, “As travel and consumer movement across Southeast Asia becomes increasingly fluid, real-time payment rails like DuitNow are fast becoming part of the infrastructure powering everyday regional commerce.”

This rollout is part of FOMO Pay’s broader strategy to enhance cross-border payment experiences, supporting merchants in connecting with Malaysian consumers naturally. The initiative reflects the growing importance of seamless payment experiences in shaping consumer confidence and behaviour, particularly in retail, dining, and lifestyle sectors.

Founded in 2015, FOMO Pay is a licensed payment institution in Singapore, Hong Kong, and the Middle East, offering digital payment, banking, and asset solutions. The firm continues to expand its reach across Asia, facilitating cross-border consumer spending through a unified platform.

MSD has announced that Singapore’s Health Sciences Authority (HSA) has approved ENFLONSIA™ (clesrovimab) for preventing respiratory syncytial virus (RSV) lower respiratory tract disease in newborns and infants entering their first RSV season. This makes Singapore the first market in the Asia Pacific region to approve this treatment.

ENFLONSIA™ is a long-acting monoclonal antibody designed to offer protection for five to six months with a consistent 105mg dose, irrespective of the infant’s weight. This approval provides an additional preventive option for infants during the critical RSV season, which in Singapore peaks from May to September.

Assistant Professor Yeo Kee Thai from KK Women’s and Children’s Hospital highlighted the importance of such developments, stating, “Infections from RSV can result in serious respiratory conditions in young children, including bronchiolitis and pneumonia.” Dr Jenny Tang from SBCC Baby & Child Clinic emphasised the global significance of RSV as a cause of hospitalisation in infants, noting its association with long-term respiratory issues.

The approval is based on the results from the Phase 2b/3 CLEVER trial and the Phase 3 SMART trial, which evaluated the safety and efficacy of ENFLONSIA™. Dr Ivan Su from MSD Asia Pacific expressed satisfaction with the approval, noting the treatment’s role in reducing the burden of RSV on families and healthcare systems.

ENFLONSIA™ is now available for administration by healthcare providers in Singapore, marking a significant step in the nation’s preventive healthcare efforts.