Industry News

The Housing & Development Board (HDB) has announced the tender launch for an executive condominium (EC) site at Woodlands Drive 17, as part of the second half of 2025 Government Land Sales programme. The site, which can accommodate approximately 560 units, is set to close its tender on 13 January 2026.

Located within 1 km of primary schools such as Innova Primary School and Woodgrove Primary School, the site is strategically positioned near the Woodlands Regional Centre, poised to become Singapore’s largest economic hub in the North. This makes it an attractive option for professionals working in the area. Additionally, the site is conveniently accessible via the Woodlands South MRT Station on the Thomson-East Coast Line, offering a direct route to Orchard Road in just over 30 minutes.

Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, highlighted the site’s potential appeal to foreign buyers, especially once the EC is privatised in ten years, given its proximity to the upcoming Johor Bahru-Singapore Rapid Transit System. “We anticipate robust interest in this EC development when it is launched for sale, considering its prime location and potential for future growth,” Quek stated.

This is the second EC site released in the area, following a previous site awarded to CDL Divine Pte. Ltd. in August 2025. Despite the larger size of the new site, which may lead developers to adopt a cautious approach, the limited supply of ECs and private homes in Woodlands suggests strong demand. Recent EC launches, such as Aurelle of Tampines, have seen impressive sales, underscoring the popularity of such developments.

The increased housing supply in Woodlands is expected to support the region’s development, attracting more residents to the area. Quek anticipates 3 to 6 bidders for the site, with the highest bid potentially ranging between S$700 to S$780 per square foot per plot ratio.

CapitaLand Investment Limited (CLI) has announced a significant expansion of its self-storage platform, Extra Space Asia (ESA), with a nearly S$100m investment in new facilities in Singapore and Tokyo.

ESA’s new Singapore facility, located at Kaki Bukit Avenue 5, will span 185,000 square feet and is the first of its kind to be awarded an industrial government land sale by the Jurong Town Corporation for self-storage use. Upon completion, ESA’s Singapore portfolio will comprise 13 properties with over 1.5 million square feet of gross floor area. This development is set to achieve Singapore’s first ‘Green Mark Super Low Energy Building’ certified self-storage facility.

In Tokyo, ESA’s acquisition of three facilities in the city’s 23 Wards expands its Japanese portfolio to 17 facilities, totalling over 60,000 square feet. This expansion is part of ESA’s strategy to capitalise on urbanisation and e-commerce growth, aiming to grow its portfolio to S$2b by 2028.

Patricia Goh, CEO of Southeast Asia Investment at CLI, highlighted the importance of self-storage in CLI’s private funds strategy, stating, “We have deployed more than S$500m in equity to grow ESA’s portfolio from 70 to more than 100 facilities.”

Tim Alpe, Managing Director of ESA, emphasised the company’s market leadership, noting, “ESA’s portfolio maintains a high average occupancy of over 90%.”

The expansion underscores CLI’s commitment to leveraging its fund management capabilities and global network to capture growth opportunities in key Asia Pacific markets.

CBRE has announced the sale of an 8-storey freehold B1 industrial building located at 10 New Industrial Road, Singapore, with an asking price of $58m (S$80m). The sale will be conducted through a private Expression of Interest (EOI) exercise, closing on 6 November at 3pm. This property, situated on approximately 30,220 square feet of land, offers a gross floor area of about 75,261 square feet and is zoned for Business 1 use, accommodating manufacturing and R&D activities.

The building boasts high floor-to-floor heights of up to 5.7 metres, strong floor loadings, and dual 1,200A power supplies, making it suitable for a variety of industrial operations. It also features 40-foot container accessibility and around 40 parking spaces, enhancing operational efficiency. Unlike most industrial properties in Singapore, which are leasehold, this property offers perpetual freehold tenure, providing long-term security and capital preservation.

Located within walking distance of Bartley MRT station and with easy access to major expressways, the property ensures excellent connectivity for logistics and workforce mobility. Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services at CBRE, highlighted the property’s unique combination of freehold tenure, prime location, and modern industrial features as key selling points. “This represents a compelling investment with significant benefits from its freehold status for discerning industrial users and investors looking to future-proof their portfolio,” Bolin stated.

Huttons Asia has commented on the upcoming sale of the second executive condominium (EC) site at Woodlands Drive 17, predicting a stable bidding environment. The site, located within a five-minute walk of Woodlands South MRT station on the Thomson-East Coast Line (TEL), is anticipated to draw 4 to 6 bidders with top bids ranging from $700 to $800 per square foot per plot ratio (psf ppr), according to Huttons Asia CEO Mark Yip.

The location offers convenient access to key areas, being one train stop from Woodlands Regional Centre and two stops from the RTS link. The TEL provides connectivity to Orchard, the Central Business District, and Changi Airport. The area also boasts proximity to three primary schools within a 1km radius, making it attractive for families. Additionally, an estimated 6,500 Housing Development Board (HDB) flats completed between 2016 and 2018 could serve as a potential pool of upgrading demand for the EC.

Woodlands Regional Centre is undergoing significant transformation, with the RTS expected to be operational by 2027 and growing interest in the Johor-Singapore Special Economic Zone. The relocation of the Singapore Sports School to Kallang is also expected to free up more land for development in Woodlands.

Recent EC launches have seen strong take-up rates, ranging from 53% to 90%, driven by a stable pool of HDB upgraders. Developers are keen to tap into this market segment. Huttons suggests that revising the income ceiling upwards could further boost the EC market by expanding the potential pool of buyers. The previous tender along Woodlands Drive 17 was sold for $782 psf ppr, and Huttons expects the bid price for this second site to remain around the same level.

The Asia Climate Philanthropy Advisory (ACPA), the first regional platform dedicated to climate giving, has been launched to address Asia’s significant climate finance gap. The initiative, backed by prominent foundations such as the Tara Climate Foundation and the Children’s Investment Fund Foundation, seeks to mobilise philanthropic capital and enhance strategic climate giving in the region.

The launch event, held in Singapore, was officiated by Ravi Menon, Singapore’s Ambassador for Climate Action. He emphasised the critical role Asia plays in global climate efforts and the need for innovative partnerships to bridge the finance gap. The ACPA aims to simplify and make climate philanthropy more impactful by addressing barriers such as complexity and collaboration gaps.

Laura Lee, the newly appointed CEO of ACPA, stated, “Our mission is to make climate giving in Asia simpler, more strategic, and more impactful.” The initiative plans to leverage regional insights and networks to empower Asian philanthropists to contribute effectively to climate solutions.

Asia faces an annual $815b finance gap, with the region contributing only 12% of global climate philanthropy despite generating nearly two-thirds of global wealth. The ACPA intends to unlock new forms of capital, including philanthropy, to supplement public and private finance, thereby accelerating Asia’s climate transition.

The initiative builds on two years of consultations with philanthropists and non-profit organisations across Asia. It aims to provide the guidance and networks necessary for philanthropists to confidently fund solutions tailored to the region’s needs. As Jamie Choi, CEO of Tara Climate Foundation, noted, “This Advisory is a bold, Asia-first step to close the gap.”

The Housing Development Board (HDB) has launched a government land sales (GLS) tender for an executive condominium (EC) site at Woodlands Drive 17, expected to yield approximately 560 new units. This follows the award of a previous EC site in the same area in August, which set a record land rate of $782 per square foot per plot ratio (psf ppr).

Located near the Woodlands South MRT station, several schools, and the Woodlands Health Campus, the site is anticipated to draw significant interest from developers. Wong Siew Ying, Head of Research and Content at PropNex, noted that the elevated land price of the first site may influence bidding strategies, as developers balance market expectations with affordability concerns. Buyers of new EC units face a 30% mortgage servicing ratio and a monthly household income ceiling of $16,000.

City Developments (CDL), which secured the first Woodlands Drive 17 EC site, may bid again to maintain its market position. CDL’s previous winning bid of $782 psf ppr surpassed the former record of $768 psf ppr for an EC site at Tampines Street 95.

With a significant number of HDB flats in Woodlands and ongoing interest from first-time buyers and HDB upgraders, the upcoming EC projects are expected to be well-received. The area has not seen new EC supply since the Northwave EC in 2015 and Bellewoods EC in 2013, potentially creating pent-up demand.

PropNex projects the tender could attract four to six bids, with the top bid ranging between $770 and $780 psf ppr.

Addlly AI, a prominent generative AI innovator and recent Silver winner at the ASEAN Digital Awards 2025, has announced its integration into the HP Garage 2.0 programme. This strategic partnership is set to accelerate the rollout of Addlly AI’s enterprise-grade Generative Engine Optimisation (GEO) suite, designed to enhance brand visibility in AI-driven search engines like ChatGPT, Perplexity, and Gemini.

The collaboration with HP Garage 2.0 will provide Addlly AI with the necessary resources and strategic support to scale its offerings to corporate clients across Asia and key global markets. The GEO suite, which has become Addlly AI’s best-performing product, allows enterprise marketing teams to audit and optimise content for AI-powered discovery, ensuring efficiency and consistency across multiple markets.

Tina Chopra, CEO and Co-Founder of Addlly AI, stated, “Enterprise marketing teams are realising that AI visibility is the new frontier for brand discovery.” The GEO suite not only audits brands for AI-driven search engines but also assists in creating content across various marketing touchpoints.

The platform’s features include intelligent recommendations, autonomous AI agents, and consistent brand voice across channels. Ronie Ganguly, Co-Founder of Addlly AI, noted, “The response from corporate clients has exceeded our expectations.”

Addlly AI’s partnership with HP Garage 2.0 builds on its existing collaborations with industry giants like Microsoft, Meta, and NVIDIA. As generative AI continues to transform consumer engagement, Addlly AI is positioned at the forefront of this digital evolution, making AI-powered marketing solutions accessible and effective for large organisations.

Silicon Box, a leader in semiconductor packaging, has announced the shipment of 100 million units from its flagship facility at Tampines Wafer Park, Singapore. This achievement underscores the company’s capability to scale its advanced panel-level packaging (PLP) technology, which is crucial for the growing demands of artificial intelligence (AI) and high-performance computing (HPC) applications.

The state-of-the-art facility, which began mass production in late 2023, is the largest of its kind globally. Silicon Box’s proprietary technology addresses performance, scalability, and cost challenges in traditional packaging schemes. “Achieving breakthrough results in production at high volume is a significant milestone for Silicon Box,” said Mike Han, Head of Business at Silicon Box.

The company has exceeded its previous industry-leading yield record of 99.7% at wafer scale, demonstrating its ability to execute high-volume production with high yield. “This shipment milestone demonstrates our team’s capability to execute advanced panel-level packaging at high volume,” shared JH Yee, Head of Operations.

Silicon Box’s Tampines facility achieved ISO certifications for quality, environmental, and safety management, reflecting its commitment to excellence. The company plans to expand its manufacturing capacity with a second facility in Novara, Italy, expected to begin production in 2028. This expansion aims to establish a full semiconductor value chain in Europe, serving sectors such as AI, HPC, automotive, and robotics.

As the only independent semiconductor packaging company capable of enabling chiplet architectures at panel scale, Silicon Box continues to deliver industry-leading results for its customers, offering advanced packaging solutions at a low cost.

Private new home sales in Singapore fell to a nine-month low in September, with developers selling only 255 units, an 88% decrease from August’s 2,142 units. This decline is attributed to the absence of new project launches during the Lunar Seventh Month, traditionally a quieter period for property transactions. However, a swift recovery is expected in October, as the first launch of the month has nearly sold out.

The Rest of Central Region (RCR) led September’s sales, with 125 units sold, although this was a decrease from the 476 units sold in August. Grand Dunman and Tembusu Grand were the most popular projects in the RCR, selling 24 and 12 units, respectively. The upcoming launches of Penrith and Zyon Grand are expected to boost RCR sales in October.

In the Outside Central Region (OCR), sales plummeted by 93%, with only 84 units sold. Canberra Crescent Residences was the top-selling project, moving 28 units. The anticipated launch of Faber Residence is expected to drive OCR sales in October due to its attractive pricing.

Core Central Region (CCR) sales also saw a significant drop, with 46 units sold compared to 513 in August. River Green and The Robertson Opus were the top sellers. However, CCR sales are predicted to rise in October following the successful launch of Skye at Holland, where 99% of units were sold.

Wong Siew Ying, Head of Research & Content at PropNex Realty, noted, “The primary market took a breather in September after an exhilarating August. The lull will be short-lived, and we expect developers’ sales to rebound significantly in October.” With four new launches offering 2,233 new private homes, the market is poised for a strong recovery.

The Public Transport Council (PTC) has announced a 5% increase in public transport fares, effective from 27 December 2025. This decision follows the council’s annual fare review exercise and is slightly lower than the initially expected 6% hike for the financial year 2026. The increase is also below the maximum allowable rise of 14.4% for 2026, with 9.4% of the hike deferred to future years.

ComfortDelGro Corporation Ltd, through its 74% subsidiary SBS Transit, is set to benefit significantly from this fare adjustment according to DBS Report. The company is projected to see an annual revenue increase of $128m (S$176m), with 20% of this amount allocated to the Public Transport Fund. This fund aims to support lower-income commuters by offsetting the impact of fare increases.

The fare hike is expected to result in an estimated incremental net profit increase of $85m (S$117m) for SBS Transit in the financial year 2026 compared to 2025. This translates to a $63m (S$87m) increase at the ComfortDelGro level, assuming all other factors remain constant.