Industry News

Singapore’s property market demonstrated resilience in 2025, with the office, retail, and residential sectors each showing unique growth patterns despite global economic uncertainties. According to CBRE Research, office rents in the Central Region experienced a modest recovery in Q4 2025, reversing previous declines, with a 0.4% quarter-on-quarter increase. This was supported by firm occupier demand and a tightening supply pipeline, as noted by Tricia Song, CBRE Head of Research, Singapore and Southeast Asia.

The office sector saw a 2.9% rise in Core CBD (Grade A) rents for the year, driven by demand from insurance, asset management, and tech firms. The Marina Bay submarket’s vacancy rate fell to 4.2% by year-end, reflecting strong demand for prime office space. However, office prices in the Central Region softened, with a 2.1% decline over the year.

In retail, the sector benefited from a recovery in tourism and consumer sentiment, with retail rents in the Central Region increasing by 0.6% in Q4 2025. The full-year growth reached 1.9%, surpassing pre-COVID-19 levels. Despite challenges such as store closures, leasing activity remained robust, particularly in the F&B and lifestyle sectors.

The residential market saw private housing prices rise by 3.3% in 2025, the slowest growth since 2020. Landed properties led the increase, whilst non-landed prices varied across segments. The rental index for private residential properties declined by 0.5% in Q4 2025, yet overall rents were up 1.9% for the year.

Looking forward, the office market is expected to become more landlord-favourable in 2026, with limited new supply and steady demand. Retailers face challenges but are supported by tourism recovery and consumer spending. The residential sector anticipates strong buying sentiment amid low interest rates and new launches.

The extension of the temporary relaxation of the occupancy cap for rental of HDB flats and private residential properties until 31 December 2028 is expected to stabilise the rental market, according to Huttons Asia. This comes as rental demand surged in 2025, with 91,273 private homes and 39,054 HDB flats rented out, marking increases of 3.1% and 6.5% from 2024, respectively.

The rise in rental demand occurred despite a lower completion rate of homes. In 2025, only 4,544 private homes were completed, and approximately 8,000 HDB flats reached their minimum occupation period (MOP), both figures lower than the previous year. This shortfall contributed to a rise in rents, with private home rents increasing by an estimated 3% and HDB flat rents by 2%.

Looking ahead, the supply of private homes and HDB flats fulfilling their MOP is projected to increase in 2026 and 2027, peaking in 2028. However, post-2028, the supply is expected to decrease, potentially necessitating further policy extensions depending on rental market demand.

Huttons’ data, sourced from URA and HDB, underscores the importance of the occupancy cap extension in providing relief to tenants and maintaining market stability amidst fluctuating supply and demand dynamics.

Capitaland Ascendas REIT (CLAR) has announced the acquisition of a modern logistics facility in Ohio for S$945m, according to a recent DBS report. This strategic move is expected to enhance the distribution per unit (DPU) by approximately 1%, with further organic growth anticipated through a 3.5% built-in annual escalation. Despite a temporary breach in gearing levels, which could exceed 40%, improvements are expected with the year-end valuations for FY25. DBS maintains a “BUY” recommendation with an unchanged target price of S$320.

Meanwhile, City Developments Ltd (CDL) has shown significant market momentum, with shares up 12% year-to-date and nearly 30% over the past three months. The report suggests a tactical play on potential special dividends and valuation adjustments, noting that market concerns over CDL’s gearing are overstated, with stable gearing at 0.7x. Positive factors include lower interest rates, resolution of a boardroom dispute, and an ongoing strategic review. DBS reiterates a “BUY” rating for CDL, with a target price of S$1,180.

These developments underscore the strategic positioning of both companies in the current market landscape, with potential for growth and value realisation in the near term.

Rex International Holding Limited has announced significant progress in its subsidiary Lime Petroleum’s operations in Norway. Lime, alongside its partners, has been awarded a 25% interest in the North Sea licence PL1279 during the 2025 Awards in Predefined Areas round. This licence includes the Vette discovery, which is set to be developed with the Yme Inspirer.

The Norwegian Offshore Directorate revealed that 19 companies were granted ownership in 57 production licences on the Norwegian Continental Shelf, with 31 located in the North Sea. Lime’s involvement in these developments highlights its strategic positioning in the region.

In addition to the new licence, Lime has completed a three-well campaign on the Brage platform, which began on 8 July 2025. The campaign included an exploration well, an appraisal well, and a new production well. The Talisker production well has commenced operations, with promising results. The Talisker exploration well uncovered commercial oil discoveries in the Cook and Statfjord formations, with estimated recoverable resources between 16 and 33 million barrels of oil equivalent.

Furthermore, the PL740 Bestla drilling campaign, a tie-back to the Brage Field, has been completed in 129 days. The campaign achieved significant milestones, including the successful appraisal of the West Segment and the delivery of OKEA ASA’s first Multi-Lateral Technology well.

These developments underscore Lime Petroleum’s commitment to enhancing its portfolio and production capabilities in Norway, with future plans including the installation of Christmas trees in Q3 2026.

Cuppage Terrace, a renowned food and beverage (F&B) and lifestyle destination on Orchard Road, is up for sale for the first time in over two decades. CBRE, acting as the exclusive marketing agent, is inviting Expressions of Interest for this prime asset, which spans 28,986 sq ft and offers approximately 50,891 sq ft of total floor area. The sale closes on 12 February 2026.

Located in the heart of Singapore’s retail hub, Cuppage Terrace consists of 17 adjoining Peranakan conservation shophouses. The property is fully leased to a diverse mix of established F&B operators, featuring an expansive outdoor refreshment area of over 12,000 sq ft. Its prominent 85-metre road frontage along Cuppage Road enhances its visibility and appeal.

The asset’s strategic location, adjacent to The Centrepoint and near Somerset MRT Station, ensures high accessibility. Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the rarity of such a large, contiguous shophouse portfolio coming to market, noting strong interest from local and international investors.

Orchard Road remains a vibrant retail centre, with ongoing redevelopment projects promising to enhance its appeal further. The Urban Redevelopment Authority’s efforts to reinvent the area aim to maintain its relevance amidst a dynamic retail landscape.

Following a 2025 valuation of S$250m, CBRE is now seeking Expressions of Interest for this prime asset. Foreigners are eligible to purchase, with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the transaction.

SC Ventures and Fujitsu have announced the launch of Qubitra Technologies, a joint venture designed to accelerate quantum computing capabilities and applications. The initiative, previously known as Project Quanta, will focus on integrating quantum resources and talent on a unified digital platform, with its first implementations expected in early 2026.

Qubitra is set to develop quantum-enabled solutions in areas such as fraud detection and financial markets trading. The company is also creating a marketplace platform to connect hardware and software providers with end-users, facilitating experimentation and deployment across the quantum stack. This platform is scheduled to pilot in 2026.

The leadership team, led by CEO Vishal Shete, brings extensive expertise in quantitative finance and frontier technologies. Shete, formerly of Terra Quantum, will guide the development of quantum use cases and intellectual property. “Our mission at Qubitra is to turn quantum innovation into business impact by combining high-performance applications with a collaborative ecosystem that advances the industry,” Shete stated.

Qubitra’s strategy is built on two pillars: high-performance quantum applications and a global quantum ecosystem marketplace. The company is already collaborating with financial institutions, including Standard Chartered Bank, to deploy advanced solutions. Vivek Mahajan of Fujitsu highlighted the potential for these applications to deliver significant improvements over current methods, paving the way for broader adoption of quantum technologies.

As Qubitra expands its partnerships and ecosystem, it aims to drive innovation at the intersection of quantum computing, AI, and financial services, setting the stage for transformative changes in the industry.

Yangzijiang Maritime Development Ltd. has announced its intention to hold an Extraordinary General Meeting (EGM) to seek shareholder approval for a share buyback mandate. This move is part of the company’s broader capital management strategy, aiming to enhance shareholder value and support liquidity.

The proposed mandate will allow Yangzijiang Maritime to purchase up to 10% of its issued shares, excluding treasury shares and subsidiary holdings, in line with the Singapore Exchange (SGX) Listing Rules and the Companies Act 1967. The maximum price for these market acquisitions will not exceed 5% above the average closing market prices.

As of 30 June 2025, Yangzijiang Maritime reported cash and cash equivalents of approximately S$0.5b, with net assets totalling around S$2b. The company plans to distribute a circular to shareholders detailing the proposal and will announce the EGM date and related details soon.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, stated, “With a healthy cash position and strong balance sheet, we continue to be focused on disciplined capital allocation, including through share buybacks when our share price may not reflect the intrinsic value of the Company.” He added that the share buybacks are seen as a means to reward long-term shareholders and reinforce confidence in the company’s strategic direction.

Yangzijiang Maritime, which successfully listed on the SGX in November 2025, positions itself as a key player in the maritime financial solutions sector, bridging shipyards, shipowners, and capital markets.

The National University Hospital (NUH) has officially launched the National University Centre for Digestive Health (NUCD) to improve early detection and treatment of digestive diseases. The centre, inaugurated on 16 January 2026, serves as a referral hub for complex cases from hospitals within the National University Health System, including Ng Teng Fong General Hospital and Alexandra Hospital.

NUCD aims to streamline patient care by accelerating access from initial consultations to surgical expertise in areas such as Upper Gastrointestinal, Hepatobiliary and Pancreatic, and Colorectal. This approach reduces waiting times and enables faster treatment decisions. Since September 2022, NUCD has screened over 12,000 high-risk patients for chronic liver diseases, facilitating earlier interventions.

A significant focus of the centre is improving colorectal cancer detection. New initiatives, including AI-enabled colonoscopy, have increased the Adenoma Detection Rate (ADR) from 33.5% in 2022 to 42.4% in 2025, surpassing the American Society for Gastrointestinal Endoscopy’s guideline of 25%.

The Inflammatory Bowel Disease Centre of Excellence, part of NUCD, offers innovations such as home administration of intravenous biologics and point-of-care intestinal ultrasound.

“The launch of NUCD marks a significant step forward in how we care for patients with digestive conditions,” said Adj A/Prof Lee Guan Huei, Centre Director.

The centre’s advancements in diagnostics and treatment aim to improve patient outcomes and contribute to ongoing research in digestive health.

RHB Bank’s latest Global Economics and Market Strategy Report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research, projects a 3% growth in Singapore’s non-oil domestic exports (NODX) for 2026. This forecast is consistent with the bank’s GDP growth projection for the same year. The report highlights that external demand conditions are expected to remain supportive, driven by the continued expansion in global industrial production and generally positive economic sentiment.

In December, Singapore’s NODX expanded by 6.1% year-on-year, a decrease from the 11.5% growth observed in November. This figure fell short of RHB’s in-house projection of 9.7% and Bloomberg’s forecast of 10.1%. Despite this, the overall NODX growth for 2025 was recorded at 4.85%, a significant increase from the 0.25% growth in 2024.

The report underscores the importance of external demand in sustaining Singapore’s export growth, with global industrial production playing a crucial role. As the world economy continues to recover, Singapore’s export sector is poised to benefit from these favourable conditions.

Looking ahead, the anticipated 3% growth in NODX for 2026 reflects a stable outlook for Singapore’s export sector, supported by robust global demand and positive economic trends.

Coastal Cabana, a new executive condominium (EC) in Singapore, has seen a successful launch weekend with 498 units sold, accounting for over 66% of its total offerings. The development, a joint venture by Qingjian Realty, Forsea Holdings, ZACD Group, and Jianan Capital, achieved this milestone on 17 and 18 January 2026, with units averaging S$1,734 per square foot.

Located along Jalan Loyang Besar in Pasir Ris, Coastal Cabana offers a rare seafront living experience. The development features 748 units spread across 16 residential blocks, with a mix of three- to five-bedroom units ranging from 872 to 1,421 square feet. The project is expected to be ready for occupancy by 31 March 2029.

The strong sales performance reflects the development’s appeal, with buyers attracted to its generous layouts, family-friendly facilities, and coastal environment. “We are proud to continue contributing to Singapore’s EC landscape by delivering quality homes that meet strong demand for private residential living,” said Du Dexiang, Managing Director of Qingjian Realty. Wang Xin, Director at Forsea Holdings, added that the development’s sea views are a particularly prized feature in the EC market.

Coastal Cabana’s strategic location offers residents easy access to Downtown East, Pasir Ris Park, and a variety of shopping, dining, and recreational options. The sales gallery is situated along Eunos Avenue 3, and more information can be found on the development’s website.