Industry News

Singapore’s retail landscape is evolving as it moves from aggressive expansion to a focus on outlet optimisation, according to Knight Frank Singapore’s Q4 2025 Retail Report. The report highlights a shift towards experience-led strategies, with success now defined by finesse rather than footprint, as stated by Knight Frank Singapore CEO Galven Tan.

Prime retail rents in Singapore’s Orchard area reached S$31.70 per square foot per month, whilst suburban rents stood at S$27.20. The island-wide average gross rent of prime retail spaces increased by 0.5% quarter-on-quarter to S$28.50 per square foot per month in Q4 2025. This growth is attributed to a rise in international visitor arrivals, which totalled 15.5 million from January to November 2025, a 2.7% increase compared to the same period in 2024.

The Marina-City Hall-Bugis cluster experienced the strongest rental growth, driven by events such as the Singapore Grand Prix and a resurgence in Meetings, Incentives, Conferences and Exhibitions (MICE) activities. Prime rents in this area grew by 4.8% in 2025.

Retail sales, excluding motor vehicles, reached S$7.6b in October and November 2025, surpassing the S$7.3b recorded in July and August. The F&B sector remains a key driver of leasing demand, with Chinese brands leading the charge in refining their market strategies. Japanese, Korean, and American F&B operators are also expanding in Singapore, despite high operating costs.

Looking ahead, luxury segments and experiential categories are expected to remain resilient, whilst mid-market retailers may face challenges. Knight Frank projects prime retail rents to grow by 2% to 4% in 2026, supported by stable tourist arrivals and Singapore’s position as a regional hub for entertainment and events.

KoverNow, a digital insurance platform specialising in luxury and collectible items in Singapore and Hong Kong, has announced the appointment of Kevin Lee as its new Chief Financial Officer (CFO). Lee will be responsible for leading the company’s financial strategy, governance, and capital management, as KoverNow aims to expand its presence across the Asia Pacific region.

With more than 25 years of experience in the financial and water industries, Lee is well-versed in corporate and loan restructuring, mergers and acquisitions, and strategic growth initiatives. His notable achievements include establishing a RM20b, AAA-rated green Sukuk programme, which underscores his leadership in sustainable finance.

Stephan Kaiser, CEO of KoverNow, commented on the appointment: “Kevin’s appointment marks an important milestone as KoverNow enters its next phase of growth. His depth of experience in financial leadership, complex transactions, and sustainable financing will be invaluable as we continue to scale our platform, expand partnerships, and strengthen our position as a leading digital insurance enabler in the region.”

KoverNow’s platform allows customers to manage their insurance needs seamlessly, from asset valuation to claims and renewals, through its award-winning app. The company partners with specialist insurers and reinsurers to provide coverage for items such as watches, jewellery, handbags, wine and whisky, art, and cameras.

Lum Chang Creations Limited has announced an expected increase in net profit for the half year ending 31 December 2025 (1HFY26), compared to the previous half year. This anticipated growth is attributed to improved gross profit margins and enhanced project execution, according to a preliminary review by the company.

The company is in the process of finalising its unaudited financial results for 1HFY26, with an official announcement scheduled on or before 12 February 2026. Shareholders and potential investors are advised to exercise caution when trading shares and to seek professional advice if necessary.

The announcement comes ahead of Lum Chang Creations’ Business Update Meeting, set for 30 January 2026 at the Ocean Financial Centre in Singapore. The meeting will feature a presentation on the latest developments, strategic initiatives, and performance highlights, followed by a Q&A session.

In a recent development, Lum Chang Creations secured contract wins worth S$63.4m, further bolstering its financial outlook. The company continues to focus on delivering strong project performance and maintaining robust profit margins.

Air India and Singapore Airlines (SIA) have entered into a commercial cooperation framework agreement, marking a significant step towards enhancing their partnership. Signed on 16 January 2026 in Mumbai by Air India’s CEO Campbell Wilson and SIA’s CEO Goh Choon Phong, the agreement aims to improve connectivity between Singapore and India, offering customers more choices and benefits.

The collaboration, pending regulatory approvals and the finalisation of joint business agreements, will enable seamless travel experiences with expanded route options and unified booking systems across both airlines. This partnership also seeks to enhance frequent flyer benefits and corporate travel offerings, whilst coordinating flight schedules for greater convenience.

The airlines currently codeshare on 61 points in 20 countries, following an expansion in October 2024 that added 51 international and domestic destinations. The new agreement could further broaden cooperation beyond Singapore and India, subject to regulatory approvals, to meet the growing demand for global connectivity.

Campbell Wilson stated, “We are pleased to take our valued, long-term relationship with Singapore Airlines to the next level through this new commercial cooperation understanding.” Goh Choon Phong added, “This agreement is a strategic, win-win collaboration that will strengthen connectivity between Singapore and India.”

Further details will be announced as plans are finalised, with both airlines committed to supporting the growth of air travel and tourism in both countries.

Point Hope has unveiled the Anchor Generational Assets Fund, a global equities strategy aimed at investors with multidecade investment horizons. This new fund focuses on businesses with enduring competitive advantages, designed to sustain returns across economic cycles rather than short-term gains.

The fund’s strategy is informed by Point Hope’s research into business longevity, examining how companies maintain economic relevance amidst competition and technological change. “Over the years, we have run a range of different strategies, but once we began viewing investing through the lens of generational durability—asking which businesses could survive and thrive not just this cycle but across generations—everything changed,” said Guan Zhen Tan, Chief Investment Officer of Point Hope.

The Anchor Generational Assets Fund invests in a select group of high-quality businesses, primarily in the United States and China, known for their technological leadership and capital formation. These companies are characterised by strong pricing power, dominant market positions, and conservative balance sheets. The fund’s investment process emphasises deep research, disciplined capital allocation, and patience, resulting in a concentrated portfolio with low turnover.

Point Hope, operating from Singapore and Kuala Lumpur, manages capital with an institutional mindset, prioritising risk management and long-term survivability. The firm’s principals are the largest investors in the fund, aligning their interests with those of their clients. The fund is intended for family offices and accredited investors, with further information available upon request.

Singapore’s non-oil domestic exports (NODX) increased by 4.8% in 2025, surpassing official estimates of around 2.5%, according to a report by UOB Global Economics and Markets Research. The growth was driven by strong demand for electronics, particularly telecommunications equipment and integrated circuits, despite a 9.4% month-on-month decline in December.

Electronics exports surged by 24.9% year-on-year in December, bolstered by an 81.4% increase in telecommunications equipment exports. In contrast, non-electronics exports saw a modest 0.8% rise, with pharmaceuticals experiencing a significant decline of 7.8%.

The report highlights that exports to South Korea and Taiwan remained robust, reflecting sustained AI-related demand. Exports to China also improved, driven by specialised machinery. However, exports to the US and EU27 weakened, attributed to previous pharmaceutical front-loading.

UOB attributes the overall growth to several factors, including the front-loading of exports amid tariff concerns, AI-driven demand for semiconductors, and easing trade tensions post-Liberation Day in April 2025. The report suggests that AI-related tailwinds could persist into the first half of 2026, supported by improvements in Singapore’s electronics purchasing managers’ index.

Looking ahead, UOB has raised its 2026 NODX growth projection to 3.0%, above the official estimate of 0.0% to 2.0%. However, the report cautions that base effects could impact year-on-year growth figures in 2026.

PropNex Research has released its report on Singapore’s Good Class Bungalow (GCB) and Prestige Landed Homes market for the second half of 2025 (2H 2025), revealing a recovery in buyer sentiment. This resurgence is attributed to stabilised market conditions and easing mortgage rates, which have bolstered confidence among high-net-worth buyers.

The report highlights that 945 landed home transactions, valued at approximately S$5.7b, were recorded in 2H 2025, slightly trailing the 1,013 transactions worth nearly S$5.8b in the first half of the year. The GCB segment maintained steady sales, with 13 GCBs sold for a total of S$371m. The most notable transaction was a bungalow on Chee Hoon Avenue, sold for S$55m in August.

In the prestige landed homes category, defined as properties valued over $10 million, sales momentum increased. There were 83 transactions totalling over S$1.2b, marking a 20% rise in sales value compared to the first half of 2025.

Looking forward, the luxury landed homes market may see further growth due to favourable domestic loan rates following interest rate cuts by the US Federal Reserve. However, challenges remain due to economic uncertainties and potential trade tensions. Singapore’s reputation as a safe haven is expected to continue driving demand in 2026.

iFAST Financial Singapore has announced a significant expansion of its Discretionary Portfolio Management Solutions (DPMS) by collaborating with global asset managers BlackRock and JPMorgan Asset Management. This strategic partnership aims to provide wealth advisers with enhanced investment solutions, allowing them to offer clients professionally managed portfolios that improve efficiency and choice.

The collaboration with BlackRock and JPMorgan, two of the world’s largest fund managers, underscores iFAST’s commitment to broadening access to high-quality investment options. Vincent Tong, CEO of iFAST Financial Singapore, stated, “By partnering with two of the world’s largest fund managers, our objective is to make discretionary investment solutions accessible to advisers and the wider public.”

JPMorgan’s discretionary portfolio leverages its active Exchange-Traded Funds (ETFs), offering investors active management at a lower cost. Yuejue Jin, Co-Head of Multi-Asset Solutions Asia at JPMorgan, highlighted the growing demand for actively managed ETFs, noting, “Our goal is to deliver the strength of our active ETF platform and asset allocation investment capabilities to investors in Singapore.”

BlackRock’s DPMS portfolios integrate active funds and passive ETFs, incorporating liquid alternatives to diversify portfolios during market volatility. Dennis Quah, Managing Director and Head of Singapore Wealth at BlackRock, emphasised the importance of a blended approach, stating, “Through a thoughtful blend of asset classes, we seek to help investors navigate market volatility and pursue their long-term goals.”

The introduction of these portfolios aims to reduce the administrative burden on wealth advisers, allowing them to focus on portfolio construction and financial planning. This move is part of iFAST’s ongoing efforts to empower advisers and enhance client experiences, aligning with its mission to provide global and profitable investment opportunities.

Singapore’s Housing Development Board (HDB) and Urban Redevelopment Authority (URA) have announced a two-year extension of the temporary relaxation of the occupancy cap for larger HDB flats and private residential properties. This decision is expected to benefit both tenants and landlords by allowing more individuals to share a unit, thereby reducing rental costs and optimising space usage.

The extension is particularly advantageous for Singaporean families, including those upgrading from HDB flats to private condominiums, who require temporary rental housing to avoid incurring Additional Buyer’s Stamp Duty. Larger families can also benefit by staying under one roof, which supports multigenerational living and helps manage rental costs more effectively. “This measure encourages families to stay together and better support elderly family members,” said Christine Sun, Chief Researcher & Strategist of Realion (OrangeTee & ETC) Group.

Landlords stand to gain higher rental returns by leasing to more tenants, a timely benefit given the minimal growth in rental rates over the past year. The increased rental income can help offset rising maintenance costs, management fees, and property taxes.

The policy also aims to retain essential foreign workers by reducing living costs, thereby supporting sectors such as manufacturing, nursing, service, and retail. Furthermore, increasing occupancy per unit could help stabilise the rental market by balancing supply and demand pressures.

However, challenges such as increased noise levels and shared use of common facilities may arise from more people living within the same unit. Despite these potential issues, the extension is seen as a strategic move to optimise living spaces and support the rental market.

In anticipation of increased travel demand during the Lunar New Year (LNY) period, six airlines at Changi Airport will introduce over 600 supplementary flights to 15 Chinese cities, more than doubling the number of additional flights compared to 2025. From 1 February to 8 March 2026, travellers can enjoy expanded options to destinations including Shanghai, Guangzhou, and Chongqing, as well as new routes to Nanchang, Ningbo, Wenzhou, Wuhan, and Zhengzhou.

The additional flights are provided by Air China, China Eastern Airlines, China Southern Airlines, Loong Air, Spring Airlines, and Xiamen Airlines, offering a diverse range of destinations and price points. Notably, Air China, China Eastern, and Xiamen Airlines will each operate over 140 additional flights. This expansion strengthens Singapore’s position as a key gateway to China, with the country being a top holiday destination for Singaporean travellers.

Changi Airport will also enhance its late-night services to improve the travel experience. These include extended early check-in at Terminals 1 and 3, 24-hour operations at the Changi Lounge, and longer operating hours for the Jewel Rain Vortex until midnight. Lim Ching Kiat, Executive Vice President for Air Hub and Cargo Development at Changi Airport Group, stated, “The doubling of flight capacity between China and Singapore this Lunar New Year reflects the strong travel demand we continue to see between China and Singapore, as well as the close partnerships we have built with our airline partners.”

As Singapore is currently linked to 37 cities in China, these additional flights will provide more travel options for holidaymakers from both countries, further enhancing connectivity and convenience during the festive season.