Industry News

The Urban Redevelopment Authority has concluded the tender for a site at Upper Thomson Road (Parcel A), part of the 1H2025 Government Land Sales programme. The site, which can accommodate approximately 595 residential units and 2,000 sqm of commercial space, received five bids. The highest bid came from Wee Hur Property and GSC Holdings at S$613.939m, surpassing the next highest bid by 2.1%.

The tender’s robust participation reflects confidence in the site’s future sales potential. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted the site’s appeal due to its direct connection to the Springleaf MRT station on the Thomson-East Coast Line and proximity to green spaces like Springleaf Nature Park. “Future homes here may appeal to buyers looking for homes within a tranquil living environment and walking distance to an MRT station,” Quek stated.

The popularity of new homes in the area, including the nearby Lentor Hills, supports this optimism. The adjacent Parcel B, now Springleaf Residence, saw a 92% uptake during its launch weekend. Similarly, Lentor Modern, an integrated development, sold 84% of its units during its launch weekend in September 2022.

The rarity of integrated developments with commercial components and MRT access has heightened interest. Recent projects like Parktown Residence also demonstrated strong demand, selling over 87% of units during its launch. This trend suggests developers are eager to secure such desirable land parcels.

Singapore is set to transform its rehabilitation care landscape with the introduction of Rehability, the nation’s first postgraduate training ecosystem for allied health professionals. Developed by NHG Health and Nanyang Technological University, Singapore (NTU Singapore), with support from the Lien Foundation, this initiative aims to address the increasing complexity of rehabilitation needs due to an ageing population and a rise in chronic diseases.

Rehability offers a three-tiered training programme designed to enhance the skills of physiotherapists. The first tier focuses on community-based training, developed in collaboration with partners AWWA and SPD, to upskill healthcare workers. The second tier introduces a Residency Programme, blending classroom learning with workplace-based supervision, culminating in postgraduate qualifications. The final tier offers a Specialist Certificate in Advanced Practice Physiotherapy, enabling experienced physiotherapists to expand their practice scope.

The programme is expected to empower physiotherapists to become first contact practitioners, capable of diagnosing musculoskeletal injuries and potentially ordering X-rays in consultation with doctors. Lien Foundation has committed $2.98m (S$4.08m) to support the programme’s development and delivery.

Doreen Yeo, Co-Director of the NHG Rehabilitation Health Academic Clinical Programme, stated, “Rehability marks a pivotal moment for allied health in Singapore. We are forging a stronger and more comprehensive rehabilitation ecosystem.”

The first intake for the Residency Programme is scheduled for July 2026, with the Master of Science in Rehabilitation Health programme commencing in 2028. This initiative is poised to significantly enhance the capabilities of Singapore’s physiotherapy workforce, ensuring high-quality care for patients across the nation.

The JTC Quarterly Market Report for Q3 2025 reveals a modest increase in Singapore’s industrial occupancy rates, rising by 0.3 percentage points to 89.1% from the previous quarter. This growth is attributed to a decrease in supply due to demolitions in older JTC estates, part of ongoing land rejuvenation plans to cater to evolving business needs. The business park, single-user factory, and warehouse segments experienced occupancy increases of 0.3, 0.1, and 0.8 percentage points, respectively, whilst the multiple-user factory segment remained unchanged.

The rental index for all industrial spaces showed a moderate rise of 0.5% compared to the previous quarter, marking a 2.3% increase from the previous year. Although industrial space prices rose by 5.7% year-on-year, the quarter-on-quarter growth slowed to 0.6%, the slowest since Q3 2024.

In Q3 2025, six tenders for industrial government land sales sites closed, with all three multiple-user development sites attracting multiple bids and being successfully awarded, indicating strong market demand. By the end of September 2025, approximately 0.2 million square metres of new industrial space is expected to be completed in the last quarter of the year, with an additional 1.2 million square metres anticipated in 2026.

JTC anticipates that, barring a significant economic downturn, occupancy rates will remain stable and rental rates will continue to moderate. The organisation remains committed to monitoring the market closely and supporting the needs of industrialists.

The Singapore Maritime Foundation (SMF) has collaborated with the Garden City Fund for the second consecutive year to organise a Plant-A-Tree Programme, uniting nearly 100 MaritimeONE scholars and 17 organisations. The initiative, which took place at the Rail Corridor, saw the planting of 122 trees, funded by $36,600 raised from sponsors. The event was attended by Baey Yam Keng, Minister of State, Ministry of Culture, Community & Youth and Ministry of Transport, as the Guest-of-Honour.

This effort is part of the broader OneMillionTrees movement by the National Parks Board (NParks), which aims to plant one million trees across Singapore over a decade. The movement supports the Singapore Green Plan 2030, which envisions transforming the city into a City in Nature, enhancing climate resilience and integrating urban spaces with nature.

Hor Weng Yew, Chairman of the Singapore Maritime Foundation, emphasised the importance of environmental stewardship, stating, “At the Singapore Maritime Foundation, in addition to recognising academic excellence, we also want to instil in our MaritimeONE scholars the culture of giving back to society. The act of planting trees underscores our commitment to caring for the environment—a cause the maritime community resonates strongly with.”

The initiative not only contributes to improving air quality and biodiversity but also encourages public recreational use of the Rail Corridor, reinforcing the maritime community’s commitment to environmental responsibility.

A consortium of Mitsubishi Power and Jurong Engineering Limited has secured an Engineering, Procurement, and Construction (EPC) contract from PacificLight Power Pte. Ltd. to construct a 670MW combined cycle gas turbine (CCGT) power plant on Jurong Island, Singapore. Scheduled to commence operations in 2029, the plant will be the first in the country to incorporate a large-scale battery energy storage system (BESS) and will initially operate on 30% hydrogen, with the potential to transition to 100% hydrogen in the future.

The facility will utilise Mitsubishi Power’s M701JAC gas turbine, renowned for its efficiency and reliability, boasting over 64% combined cycle efficiency. This development aligns with Singapore’s decarbonisation targets, aiming to achieve net zero emissions by 2050. Yu Tat Ming, CEO of PacificLight Power, highlighted the project as a significant advancement in the company’s decarbonisation efforts, stating, “By investing in large-scale energy storage and hydrogen-ready technology, we are future-proofing our infrastructure to meet future energy demands.”

Mitsubishi Power and Jurong Engineering Limited bring extensive experience to the project, having previously collaborated on multiple power generation projects in Singapore. Daichi Nakajima, Executive Vice President of Mitsubishi Power, expressed the company’s commitment to supporting Singapore’s energy transition goals, whilst Koichi Watanabe, CEO and Managing Director of Jurong Engineering, emphasised the collaboration’s role in enhancing Singapore’s power system resilience.

This project represents a crucial step in Singapore’s journey towards a sustainable energy future, reinforcing the nation’s commitment to reducing carbon emissions and enhancing energy security.

Singapore has emerged as the most targeted nation for ransomware attacks in Southeast Asia, according to the 2025 APJ eCrime Landscape Report by cybersecurity firm CrowdStrike. The report highlights a robust Chinese-language underground ecosystem that facilitates cybercrime activities in the region, including Singapore.

The report reveals that Singapore, despite its smaller market size, surpasses Indonesia, Malaysia, and Thailand in ransomware targeting. It is also among the top five most targeted markets in the Asia Pacific and Japan (APJ) region, alongside India, Australia, Japan, and Taiwan. Key industries affected include manufacturing, technology, industrials and engineering, financial services, and professional services.

CrowdStrike’s findings point to a thriving Chinese-language underground ecosystem that supports eCrime across APJ. This includes the now-defunct Huione Guarantee marketplace, which reportedly facilitated $27b in illicit transactions. Additionally, the China-based bulletproof hosting provider CDNCLOUD is said to maintain an office in Singapore, offering services to cybercriminals across Asia.

The report also notes that targeted eCrime threats are evolving beyond ransomware. For instance, account takeover campaigns are targeting Japanese securities companies, whilst a Vietnamese eCrime ecosystem focuses on compromising high-value social media business accounts.

Adam Meyers, head of counter adversary operations at CrowdStrike, stated, “eCrime actors are industrialising cybercrime across APJ through thriving underground markets and complex ransomware operations. Simultaneously, AI-developed malware enables adversaries to launch high-velocity, high-volume attacks.”

The report underscores the need for robust cybersecurity measures to counter these evolving threats, highlighting the role of AI in both facilitating and combating cybercrime.

HMI Medical has announced the opening of HMI Radiology (Novena), a new diagnostic centre in Singapore, aimed at bolstering its radiology services. Located within the Novena Medical Hub, the facility offers a comprehensive range of imaging services, complementing the existing HMI Radiology (Farrer Park) location. This expansion is designed to improve early detection and proactive health management in the community.

The new centre is equipped with state-of-the-art imaging technologies, including the MAGNETOM Lumina 3T MRI, SOMATOM Drive CT, MAMMOMAT Revelation, and MULTIX Impact X-ray. These systems are intended to provide faster, quieter, and more comfortable imaging experiences for patients. The MAGNETOM Lumina 3T MRI, in particular, is noted for its high-resolution imaging capabilities, which allow for more accurate diagnoses whilst reducing scan times and enhancing patient comfort.

The integration of Siemens Healthineers’ high-resolution imaging systems and AI-enhanced workflows is a key feature of the new centre. This integration is expected to drive patient-centric innovation and broaden access to precision diagnostics across diverse clinical environments. According to HMI Medical, the facility aims to deliver a full suite of diagnostic imaging services to aid in early detection and proactive health management in the community.

The establishment of HMI Radiology (Novena) underscores HMI Medical’s commitment to expanding its diagnostic capabilities and enhancing healthcare access in Singapore. As the demand for advanced medical imaging continues to grow, the new centre is poised to play a crucial role in meeting the needs of patients and healthcare providers alike.

Agnes AI, a Singapore-developed artificial intelligence agent, has achieved a significant milestone by surpassing 2 million registered users globally within just four months of its launch in July 2025. The AI tool, which boasts approximately 150,000 daily active users, has gained substantial traction in Southeast Asia, with half of its user base originating from the region. It consistently ranks among the top 10 productivity tools on Google Play in countries such as the Philippines, Vietnam, and Indonesia.

Founded by Bruce Yang, Agnes AI is an all-in-one assistant that integrates search, research, slide generation, design tools, and shared workspaces, allowing users to seamlessly transition from research to presentation without switching applications. The AI operates on a proprietary technology stack, aligning with Singapore’s vision for a sovereign AI infrastructure.

The core team, comprising academic and engineering experts, includes Evan Pu, a Professor of Computer Science at Nanyang Technological University, Xiaofan Li, an Assistant Professor at the National University of Singapore, and Linus Lee, a Singaporean AI researcher. Together, they have developed the Agnes-R1 model, a seven-billion-parameter system that excels in search, research, and presentation tasks. It has demonstrated superior performance, with faster reasoning and lower costs compared to similar models.

Yang emphasised the importance of local control over AI technology, stating, “Singapore is investing to build AI that we can understand, control, and trust.” Looking forward, Agnes AI plans to expand its capabilities by training a larger model in collaboration with local universities and integrating with regional technology providers. This initiative aims to embed the AI’s functionalities within educational and workplace environments across Southeast Asia.

Retail investors in Singapore are embracing artificial intelligence (AI) in their investment strategies more than their global counterparts, according to a recent survey by trading platform eToro. The survey, which included 11,000 retail investors across 13 countries, found that 32% of Singaporean investors are already using AI to manage their portfolios, compared to just 19% globally.

The survey highlights that an additional 43% of Singaporean investors are open to trying AI for investment purposes. The primary motivation for adopting AI is the time saved on research, with 56% of local investors citing this benefit. Furthermore, 51% of Singaporean investors believe AI represents the future of investing, and 33% think AI can outperform fund managers in selecting investments.

Market Analyst Zavier Wong from eToro noted, “Singapore has one of the highest internet and smartphone penetration rates globally, so it comes as no surprise that the city has some of the most tech-savvy investors in the world.”

The data also indicates a gender difference in attitudes towards AI, with 56% of female investors viewing AI as the future of investing, compared to 46% of male investors. Despite relying on AI, 39% of Singaporean investors plan to further educate themselves on AI-powered investment strategies in the next year, a higher percentage than the global average of 23%.

Additionally, over half of Singaporean investors currently hold investments in the tech sector, with 27% planning to increase their tech investments in the coming months. This trend underscores the growing confidence in AI’s potential across various age groups in Singapore.

The October 2025 Build-To-Order (BTO) exercise witnessed a significant rise in applications, with 31,095 applicants vying for 9,144 flats, according to Huttons. This marks a 34.3% increase from the July 2025 exercise. The surge is attributed to projects in sought-after areas such as Bishan, Bukit Merah, and Toa Payoh, which have historically hosted a high number of million-dollar flats.

The median application rate for first-time families and second-time families for three-room and larger flats rose to 1.7 and 14.8, respectively, from 1.4 and 11.7 in July. The increased allocation rate for second-timer families by 5 percentage points is also believed to have contributed to the heightened demand.

Projects like Bishan Terraces, Berlayer Residences, and Mount Pleasant Crest attracted thousands of applicants. Berlayer Residences, despite a 14% clawback subsidy, drew significant interest, indicating long-term residency plans among applicants. Mount Pleasant Crest, located near Mount Pleasant MRT station, saw over 3,000 applicants for each four-room flat.

Bishan Terraces received over 1,300 applications for its four-room flats, driven by upcoming amenities and limited land availability near Bishan MRT. Meanwhile, Chencharu Grove and Teban Heights were popular for their larger five-room flats and proximity to transport links.

Despite high prices, Ping Yi Court attracted over 480 applicants for its 290 five-room/3Gen flats, highlighting the demand for such units in mature estates. The relaxation of policies for singles has maintained high application rates, particularly in mature estates like Bedok and Toa Payoh.