Industry News

Singapore’s industrial real estate market experienced significant rental growth across all segments in the first quarter of 2026, according to Cushman & Wakefield’s latest report. The surge is attributed to tightening vacancies and a limited supply pipeline, with prime logistics rents increasing by 1.5% quarter-on-quarter, marking the strongest growth since Q1 2024.

All industrial property segments recorded positive rental growth. Warehouse rents rose by 0.5% quarter-on-quarter, whilst suburban business park rents increased by 1.7%. City fringe business parks saw a 0.7% rise, and factory rents grew by 1.6% on the ground floor and 1.5% on upper floors. High-tech rents showed a more modest increase of 0.3%.

The report highlights that the inclusion of newer, higher-quality properties in Cushman & Wakefield’s tracking basket contributed to the outperformance of suburban business parks and prime logistics. Warehouse vacancy rates fell to 5.6%, the second consecutive quarter of decline, as demand from occupiers exceeded new completions.

Despite the positive rental momentum, Singapore’s economic growth forecast for 2026 may be revised lower due to geopolitical uncertainties, particularly the ongoing Middle East conflict. The Purchasing Managers’ Index (PMI) rose to 50.6 points in February, indicating improving manufacturing sentiment, although the overall economic outlook remains cautious.

The tightening supply situation is expected to persist, with new supply across most industrial segments in 2026 projected to fall below the ten-year historical averages. This scenario could further challenge the market’s resilience in the coming months.

The Singapore Academy of Law (SAL) has unveiled its Legal Leadership Playbook, a pioneering guide designed to bolster leadership skills within the legal sector. This initiative, endorsed by the Human Capital Leadership Institute, addresses the growing need for leadership that transcends technical expertise amidst a rapidly changing, technology-driven landscape.

The Playbook was introduced at the Lawyer UP! 2026 event, where Justice Debbie Ong and SAL’s Chief Executive, Yeong Zee Kin, highlighted the evolving demands on legal professionals. The guide offers practical tools and insights for lawyers at all career stages, aiming to foster adaptability, people leadership, and the ability to drive meaningful change.

Yeong Zee Kin emphasised the importance of intentional professional development in light of evolving client expectations and technological advancements. “Professional development cannot be left to chance—it must be intentional,” he stated, underscoring the Playbook’s role in equipping lawyers to navigate these challenges.

In addition to the Playbook, SAL is enhancing access to professional development by reducing financial barriers. Since 2025, SkillsFuture Singapore has funded most SAL training programmes, allowing legal professionals to pay only a fraction of course fees. The introduction of the LexLearn Pass further expands access to continuous learning.

The Playbook is set to evolve with contributions from the legal community, ensuring it remains relevant and comprehensive. This initiative is part of SAL’s broader efforts to support a resilient and future-ready legal profession in Singapore.

Singapore’s technology sector has experienced a remarkable rally, driven by global tech sentiment and increased AI infrastructure spending. Intel’s strong first-quarter results, with a 22% year-on-year rise in data centre and AI revenue, have bolstered confidence in the sector. This aligns with the Singapore Semiconductor Industry Association’s view that AI growth is moving towards scaling and deployment readiness.

Nanofilm Technologies International emerged as the top performer, with a 166% price gain in April. The company’s recent business update highlighted revenue growth and cost control, reinforcing its focus on core sectors where its technology adds value. This approach has been supported by OCBC research, which emphasised cost control and cash flow discipline as key to its performance.

The FTSE ST Technology Index has posted an 18% gain for April, marking one of its strongest monthly performances. This surge has also lifted the iEdge Singapore Next 50 Liquidity Weighted Index by 9%. The global backdrop, with the PHLX Semiconductor Index showing significant advances, reflects the intensity of capital repricing in the semiconductor sector.

Venture Corporation, Singapore’s largest technology stock by market capitalisation, continues to focus on disciplined operating performance and selective investment. Its design-led manufacturing model supports a strong net-cash position, enabling balanced capital allocation.

Trading activity and institutional participation have risen sharply, with the 30 most traded technology stocks averaging a daily trading turnover of S$123m. Net institutional inflows have reached S$297 million, reversing outflows from the previous year. This reflects a broader shift towards prioritising delivery capability and financial resilience in the sector.

Knight Frank Singapore has revealed a significant rise in auction listings for the first quarter of 2026, with a total of 148 properties listed, marking a 10.4% increase from the previous quarter. The report highlights that successful transactions now depend more on realistic pricing and asset quality, according to Tan Tee Khoon, Head of Auction & Sales at Knight Frank Singapore.

The gross sales value for Q1 2026 reached S$10.3m, a 39.3% increase from the previous quarter, despite a 13.7% year-on-year decrease. The success rate for auctions stood at 3.4%, with five properties sold, including a notable S$3.5m sale of a freehold terrace house in Lorong 22 Geylang.

Residential properties dominated the listings, accounting for 44.6%, followed by industrial and retail units. The introduction of the KF Bidding App has modernised the auction process, allowing remote participation. A ground floor warehouse unit at Liberty Warehouse was sold for S$1.6m via the app, showcasing the potential for digital auctions.

Mortgagee sales saw a 28.8% quarter-on-quarter increase, with 103 listings. Residential and industrial properties comprised the majority. Meanwhile, owner sales listings decreased slightly, with retail units making up the bulk due to pressures from rising operating costs and evolving consumer preferences.

Looking ahead, Knight Frank anticipates continued activity in Singapore’s auction market, driven by increasing mortgagee sales and cautious buyer sentiment. The adoption of digital platforms is expected to enhance market reach and transparency, potentially boosting participation from younger and international buyers. Auction success rates are projected to remain modest at around 5% throughout 2026.

MoneyMax Financial Services Ltd has successfully raised S$44.3m through the issuance of 53 million new ordinary shares, priced at S$0.835 each. The placement, which was fully subscribed, attracted significant interest from investors, facilitated by fund managers under the Monetary Authority of Singapore’s Equity Market Development Programme.

The net proceeds of approximately S$43.4m will be channelled towards the company’s general working capital. Specifically, the funds will support the expansion of MoneyMax’s pawnbroking portfolio and the acquisition of retail inventory. This financial boost is a strategic move as the company aims to transfer to the Main Board of the Singapore Exchange (SGX) by the first week of May 2026.

The placement was managed by CGS International Securities Singapore, DBS Bank, and Oversea-Chinese Banking Corporation, who acted as joint bookrunners. Notably, the placement price represented a 3.1% discount to the volume-weighted average price of the company’s shares on the last trading day before the placement agreement was executed.

The new shares, which account for approximately 6% of MoneyMax’s existing share capital, will be freely transferable and rank equally with existing shares. The successful completion of this placement not only meets the minimum public shareholding requirement but also positions MoneyMax for future growth and stability in its market operations.

Aster Chemicals and Energy and Puraglobe have signed a Memorandum of Understanding (MOU) to explore the establishment of a re-refined base oil (RRBO) processing facility in Singapore. This collaboration seeks to convert used motor oil into high-performance Group II/III/III+ base oils, which are essential for various industrial applications, including automotive and aviation.

The proposed facility, named Project PURANOVA, would be the first of its kind outside Germany, addressing Asia’s need for sustainable lubricant production. Puraglobe’s proprietary technologies, HyLube and HyRes, will be combined with Aster’s refining capabilities to create a scalable solution for re-refining motor oil. This initiative aligns with Singapore’s industrial goals and aims to reduce waste whilst extending resource lifecycles.

Andre Khor, Deputy CEO of Aster, highlighted the significance of this partnership, stating, “This collaboration with Puraglobe is a deliberate step towards the kind of advanced, higher-value production that defines Singapore’s next industrial chapter.” The companies will conduct joint feasibility studies on Aster’s Bukom Island to assess the project’s viability.

Puraglobe CEO Dr. Alois Virag emphasised the potential of used motor oil as a valuable resource, saying, “Puraglobe has spent three decades proving that used motor oil is not waste, it is a premium feedstock waiting to be unlocked.” The partnership aims to leverage Singapore as a strategic base for expanding sustainable oil refining technologies in Asia.

The resale condominium market in March 2026 experienced a slight dip in prices, with a 0.1% decrease month-on-month, marking the first decline of the year. However, prices remain 4.9% higher than the same period last year, according to the latest report by 99.co and SRX. The market saw an estimated 944 units resold, a 3.4% increase from February, indicating a stabilisation in transaction volumes.

The report highlights that the Core Central Region (CCR) and Outside Central Region (OCR) saw price increases of 0.4% and 0.5% respectively, whilst the Rest of Central Region (RCR) experienced a 1.2% decrease. Year-on-year, prices in CCR, RCR, and OCR rose by 4.4%, 4.9%, and 4.6% respectively.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that recent new launches such as River Modern and Pinery Residences have seen strong take-up rates, potentially diverting demand from the resale market. “These robust sales likely diverted some demand away from the resale segment, as buyers were drawn to newer projects offering modern layouts and progressive payment schemes,” he said.

The highest resale transaction in March was a unit at Le Nouvel Ardmore, fetching S$19.5m. In the RCR, The Waterside saw the highest transaction at S$5.78m, whilst The Gazania led in the OCR at S$4.2m.

The overall median capital gain for resale condos was S$400,000, down by S$24,000 from February. District 10 recorded the highest median capital gain at S$867,000, whilst District 4 had the lowest at S$164,000. The median unlevered return stood at 30.3%, with Districts 15 and 23 posting the highest returns at 42.9% each.

Vela Bay, the first private residential project in the Bayshore precinct, achieved impressive sales over its launch weekend, selling 371 units, or 72% of its offerings. The development benefits from its proximity to the Bayshore MRT station and scenic sea views, which are expected to provide buyers with potential future gains, according to Mark Yip, CEO of Huttons Asia.

The Bayshore MRT station, part of the Thomson-East Coast Line, offers residents quick access to key employment areas such as the Central Business District, Changi Business Park, and Changi Airport. This car-lite precinct is anticipated to set a precedent for future housing models. Additionally, Temasek Primary School is conveniently located within 1km, and Bedok South MRT station is just a train ride away.

The government has recently released a land parcel above Bedok South MRT station for development into an integrated transport hub, promising more amenities for the Bayshore area. The precinct is set to house approximately 12,500 homes, with 30% allocated for private residential developments. With limited supply and uncertain future sea views, buyers are acting swiftly.

All unit types at Vela Bay attracted significant interest, with one penthouse sold. The two-bedroom units were particularly popular, aligning with the average household size of 3.06 persons. Meanwhile, nearly 75% of the three-bedroom units were sold, appealing to families, and the one-bedroom plus study units were nearly sold out, offering an attractive price point for sea views.

AIA Singapore has announced a collaboration with INSEAD to launch the AIA-INSEAD Executive Agency Leadership Programme, aimed at enhancing the leadership skills of high-potential leaders within AIA Singapore and AIA Financial Advisers. This initiative is part of AIA’s strategy to focus on long-term leadership development amidst the rapid technological changes and evolving customer expectations in the financial advisory sector.

The programme, co-designed with INSEAD, is tailored for AIA’s distribution leaders and focuses on strategic leadership, business planning, and sales productivity. Participants will receive an AIA-INSEAD co-branded certification upon completion, reinforcing AIA’s commitment to leadership excellence. Alvin Fu, Chief Distribution Officer at AIA Singapore, emphasised the importance of investing in long-term people development, stating, “Strong leaders are not built in a quarter — they are built over years.”

This initiative complements AIA’s existing leadership development efforts, including its mandatory IBF Level 1 certification and partnership with the Wealth Management Institute. By investing in leadership capabilities, AIA aims to build a sustainable distribution force that can navigate industry complexities and deliver enduring value to its customers and the industry.

The AIA-INSEAD Executive Agency Leadership Programme underscores AIA’s dedication to fostering a robust leadership pipeline, ensuring that its leaders are equipped to inspire teams and adapt to change, ultimately helping more people live healthier, longer, and better lives.

Rivelle Tampines executive condominium (EC) in Tampines West has successfully sold all its remaining 58 units during the second-round balloting for second-timer buyers on 25 April 2026. This achievement comes just a month after its public launch on 21 March 2026, where it initially sold 93% of its 572 units at an average price of $1,893 per square foot (psf).

The Rivelle Tampines EC is now the third EC project to sell out during its second sales balloting, following the success of Aurelle of Tampines in April 2025 and Copen Grand in November 2022. Kelvin Fong, CEO of PropNex, highlighted the strong demand for ECs, noting that they provide an affordable entry into private housing for many Singaporean households, including those upgrading from Housing Development Board (HDB) flats.

Despite setting a new benchmark price for ECs, Rivelle Tampines maintained strong sales, underscoring the resilience of demand for this housing type. The median unit price for new ECs in Q1 2026 was $1,837 psf, significantly lower than the $2,503 psf for new 99-year leasehold non-landed private homes in the Outside Central Region (OCR).

The project’s location in an established regional centre, its proximity to Tampines West MRT station, the upcoming Pinery Mall, and schools like St. Hilda’s Primary School contributed to its appeal. With limited unsold EC units on the market, PropNex anticipates continued strong demand and confident bids from developers in future government land sales for EC sites.