Industry News

Singapore Airlines (SIA) Group reported a robust increase in passenger demand for July 2025, with traffic rising by 6.2% compared to the same period last year. This growth outpaced the 2.8% expansion in passenger capacity, resulting in a passenger load factor of 88.5%, up by 2.9 percentage points year-on-year.

The group, which includes both Singapore Airlines and its low-cost subsidiary Scoot, carried a total of 3.5 million passengers, marking a 9.7% increase from the previous year. Singapore Airlines achieved a passenger load factor of 87.4%, whilst Scoot reached 92.2%. The increase in passenger numbers was largely attributed to the traditional summer peak season.

Cargo operations, however, faced challenges. Despite a 2.1% year-on-year increase in cargo loads, the growth was slightly below the 2.7% rise in cargo capacity. Consequently, the cargo load factor decreased by 0.3 percentage points to 57.1%. The demand for cargo was supported by front-loading activity amidst tariff uncertainties, although at a slower pace than in previous months.

By the end of July 2025, the SIA Group’s passenger network spanned 129 destinations across 37 countries and territories, with Singapore Airlines serving 78 destinations and Scoot 73. The cargo network covered 133 destinations in 38 countries and territories. This extensive network underscores the group’s commitment to maintaining a strong global presence.
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ETC, a commercial real estate advisory firm, has successfully sold a freehold corner shophouse at 247 & 249 Joo Chiat Place for $6.25 million (S$8.55 million). The property, located in Singapore’s prime District 15, fetched approximately $2,122 (S$2,902) per square foot on the floor area. The sale was completed following an Expression of Interest exercise that closed on 26 June 2025, attracting multiple competitive offers from investors and F&B operators.

The shophouse, which enjoys dual frontage along Still Road and Joo Chiat Place, is currently home to the popular Eng Seng Restaurant, renowned for its black pepper crabs. The restaurant will cease operations on 31 August 2025. A significant feature of the property is its permanent approved use as an “eating house,” a status no longer issued in the East Coast/Joo Chiat precinct, making it a highly coveted investment.

Swee Shou Fern, Head of Investment Advisory at ETC, part of Realion Group, commented on the sale: “The sale underscores the enduring appeal of tightly held assets in prime locations. Eating houses, in particular, remain a resilient and sought-after investment class due to their scarcity and stable demand.”

The property’s strategic location, surrounded by established residential estates, schools, and healthcare facilities, enhances its long-term value. It is well-connected by public transport, with Eunos MRT Station less than 700 metres away.

This transaction reflects the ongoing demand for prime real estate in Singapore, particularly in areas with limited supply and high demand.
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Developers in Singapore experienced a significant rebound in private home sales in July, reaching a five-month high with 940 units sold, excluding executive condominiums. This marks a more than threefold increase from June’s 272 units and a 63% rise compared to July 2024. The surge was largely fuelled by strong demand for new projects in the city and city-fringe areas, according to data released by the Urban Redevelopment Authority (URA).

Four new projects were launched in July, including LyndenWoods in the Science Park, The Robertson Opus, UpperHouse at Orchard Boulevard, and W Residence Marina View-Singapore. These accounted for approximately 70% of the month’s sales. LyndenWoods led the sales with 331 units sold at a median price of $2,463 per square foot (psf).

The Core Central Region (CCR) saw a remarkable recovery, with sales hitting 357 units, the highest monthly figure in over four years. The Robertson Opus and UpperHouse at Orchard Boulevard were the top performers in this region. UpperHouse sold 178 units at a median price of $3,259 psf, whilst The Robertson Opus moved 149 units at $3,359 psf.

In contrast, the Outside Central Region (OCR) experienced muted sales due to a lack of new launches, with only 70 units sold. However, sales are expected to pick up in August with new projects like Canberra Crescent Residences and Springleaf Residence entering the market.

Wong Siew Ying, Head of Research & Content at PropNex Realty, noted, “July marked a bright start to the second half of 2025 for developers’ sales and may signal a broader recovery in the CCR sub-market.” With more projects slated for launch, developers’ sales for 2025 could reach between 8,000 and 9,000 units, excluding executive condominiums.
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New home sales in Singapore experienced a significant rebound in July 2025, breaking a four-month decline, as reported by the Urban Redevelopment Authority (URA).

The surge was largely attributed to the launch of five new projects, marking the highest number of releases since November 2024, Christine Sun, Chief Researcher and Strategist, Realion Group, the group behind ETC and OrangeTee, said in a note.

Sales of new homes, excluding executive condominiums (ECs), more than tripled to 940 units, a 245.6% increase from June’s 272 units. Including ECs, sales rose by 329.8% to 1,311 units.

Among the new projects, The Robertson Opus, an executive condominium, was a standout, selling 149 of its 348 units. Its 999-year leasehold tenure and prime location near Orchard Road and the Central Business District attracted buyers. Other successful projects included Otto Place, LyndenWoods, and UpperHouse at Orchard Boulevard.

The city fringe or Rest of Central Region (RCR) saw the majority of sales, accounting for 54.6% of transactions, followed by prime areas at 38% and suburban areas at 7.4%. The luxury market also showed signs of recovery, with 29 non-landed homes priced between S$5 million and S$10 million sold, up from 11 in the previous month. However, ultra-luxury condo sales were subdued, with only two transactions exceeding S$10 million.

Looking ahead, the positive sales performance is expected to boost market sentiment, encouraging hesitant buyers to invest. Sun said. With interest rates moderating, making mortgages more affordable, demand is likely to remain resilient. A robust pipeline of new project launches in the third quarter of 2025, including Springleaf Residence and The Sen, will provide more options for investors and local buyers.
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Singapore’s property market witnessed a significant uptick in activity in July 2025, with developer sales reaching 940 units, excluding Executive Condominiums. This marks a substantial 245.6% increase from June’s 272 sales and a 63.2% rise compared to July 2024, according to Knight Frank Singapore’s Head of Research, Leonard Tay.

The surge was largely driven by the successful launch of Lyndenwoods, which sold 97% of its 343 units at a median price of S$2,463 per square foot. New launches in the core central region, such as UpperHouse at Orchard Boulevard and The Robertson Opus, also contributed to the heightened activity, with sales of 59% and 43% respectively.

Despite the Additional Buyer’s Stamp Duty continuing to deter foreign buyers, local demand remains robust. Tay noted a shift in buyer sentiment, with more locals willing to pay a premium for new properties. “Local homebuyers are expected to support activity in the prime home market segment, largely for their own occupation,” he said.

The first seven months of 2025 have seen an estimated 5,527 primary transactions, aligning with Knight Frank’s forecast of 7,000 to 9,000 transactions for the year. This resurgence comes despite recent increases in Seller’s Stamp Duty rates and an extended holding period.

The influx of new citizens and permanent residents, with 23,472 new citizens and 34,491 new permanent residents in 2023, is expected to further bolster the market. As global instability persists, Singapore’s stable environment continues to attract those seeking high-rise living opportunities.
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Singapore’s property market witnessed a significant upswing in July 2025, with developers launching 1,675 units for sale, marking a 16.3-fold increase from June 2025 and a 171.9% rise year-on-year. This surge came despite the introduction of cooling measures on 4 July, which increased the holding period and magnitude of the Seller’s Stamp Duty (SSD). Buyers remained undeterred, viewing property as a mid to long-term investment, Huttons said in a note.

Three major projects—LyndenWoods, The Robertson Opus, and UPPERHOUSE at Orchard Boulevard—were pivotal, contributing 70% of the 940 units sold in July. This figure represents a 245.6% increase from June and a 63.2% rise compared to July 2024. LyndenWoods, the first residential project in Singapore Science Park, sold 331 units, or 96.5% of its offerings, with starting prices comparable to those in the Outside Central Region.

The Core Central Region (CCR) projects, The Robertson Opus and UPPERHOUSE, also performed well, underscoring the strong demand for prime properties. The narrowing price gap between CCR and Rest of Central Region (RCR) homes—from 56.5% in 2018 to 1.9% in the first half of 2025—has made CCR properties more attractive.

Huttons Data Analytics estimates that developers sold 5,527 units in the first seven months of 2025, about 69% of their full-year forecast. Looking ahead, the market anticipates further launches, with five projects expected in August 2025, potentially adding 2,472 units to the market.
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Airwallex, headquartered in Singapore, has announced a remarkable achievement as it crosses $200 billion in annualised transaction volume, marking a 92% year-on-year increase. The company’s Annualised Revenue Run Rate (ARR) has also surged past $900 million, up 89% from the previous year, just three months after surpassing the $800 million mark. This growth comes as Airwallex approaches its 10th anniversary.

The fintech firm has seen a substantial rise in its customer base, with 13,372 new transacting clients added in Q2 2025, representing an 84% increase year-on-year. Airwallex’s global presence now spans 26 markets, with new offices established in Paris, Abu Dhabi, and Dubai. The company has also expanded into Brazil and Mexico through the acquisition of CTIN Pay in Vietnam.

Airwallex is set to introduce new products in Japan, Korea, the UAE, and Latin America, whilst accelerating its go-to-market efforts in Europe, North America, and Southeast Asia. Additionally, the company is venturing into the brick-and-mortar sector with the launch of its Point of Sale (POS) terminal, initially piloted in Singapore and Hong Kong.

The company is also embracing artificial intelligence (AI) with a company-wide initiative to explore how AI can transform daily operations. Airwallex is developing an AI-native solution for founders and CFOs, aiming to streamline financial processes from incorporation to IPO.

As Airwallex continues to expand and innovate, its growth trajectory suggests significant future developments in the fintech landscape.
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CapBridge, a prominent digital investment solution provider, has announced a strategic partnership with Singlife, a leading financial services company, to introduce insurance distribution to its clients. This collaboration marks CapBridge’s initial venture into the insurance sector, with Singlife as the first insurer to join the platform.

The partnership enables CapBridge’s financial adviser representatives to offer Singlife’s life and health insurance products alongside existing investment options such as money market funds, digital asset funds, and institutional-grade bonds. These insurance solutions will be provided following a comprehensive needs-based assessment, ensuring they align with the financial strategies of CapBridge clients.

Janet Liu, CEO of CapBridge, highlighted the significance of this partnership, stating, “This partnership with Singlife marks a significant milestone in CapBridge’s journey to become a one-stop platform for holistic financial services.” The collaboration aims to meet the growing demand for accessible protection and long-term planning, particularly among SMEs.

Singlife’s Head of Innovation and Ecosystem, Varun Mittal, expressed enthusiasm about the partnership, noting, “This partnering with CapBridge marks another exciting step forward for Singlife in incorporating insurance into investors’ broader financial strategies with ease and confidence.”

This alliance is part of Singlife’s broader strategy to integrate insurance into the financial ecosystem, having established eight such partnerships in 2025. It also supports Singlife’s SME Connect initiative, which provides essential protection for small business owners and their employees.

As Singapore continues to develop as a financial hub, the demand for integrated financial solutions is expected to rise, making this partnership a timely and strategic move for both CapBridge and Singlife.
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The Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) have reaffirmed their bilateral cooperation during the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam. The event saw both institutions exchanging views on global and regional economic trends and discussing developments in payments connectivity. A key highlight was the signing of a Memorandum of Understanding (MoU) to establish a reciprocal cross-border collateral arrangement (CBCA).

The CBCA will enable both authorities to accept a broader range of collateral in their liquidity provisioning facilities, offering financial institutions in both jurisdictions increased flexibility in liquidity management. This initiative aims to bolster financial stability in Brunei and Singapore. BDCB Managing Director Hajah Rashidah binti Haji Sabtu emphasised the importance of the Roundtable as a platform for enhancing collaboration on mutual interests, stating, “The Bilateral Roundtable stands as a testament to the strong relationship between BDCB and MAS.”

MAS Managing Director Chia Der Jiun expressed appreciation for BDCB’s hosting of the event and highlighted the significance of the CBCA MoU in strengthening bilateral relations. He also noted the upcoming 60th Anniversary of the Currency Interchangeability Agreement (CIA) in 2027 as a milestone for both nations.

The reaffirmation of cooperation between BDCB and MAS underscores the strategic importance of their partnership in navigating the evolving regional economic landscape, ensuring continued financial stability and collaboration.
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Singapore-listed Salt Investments Limited has announced a remarkable 361% increase in revenue for the first quarter of FY2026, reaching S$5.3 million. This significant growth is attributed to the strong performance of its newly acquired subsidiaries, Prosper Excel Engineering Pte Ltd. and TT Oil Pte. Ltd., which have bolstered the company’s topline.

The company’s gross profit more than tripled from the previous quarter, rising to S$493,000, although the gross profit margin slightly decreased to 9.4%. Administrative expenses saw a year-on-year increase due to costs associated with the new subsidiaries and higher senior executive expenses, but they decreased by 29.6% compared to the last quarter.

Salt Investments also reported a reduced net loss attributable to equity holders of S$417,000, a 56% improvement from the previous quarter. The acquisition of a 60% shareholding in TT Oil Pte Ltd. in June 2025 has strengthened the company’s vertical integration in the marine ecosystem, particularly in the wholesale supply of marine lubricants.

The Group has secured commitments for an equity fundraise of S$5.75 million to support its operating expenses and working capital as it continues to expand in the maritime industry. Executive Director and CEO Dennis Goh stated, “Our recent performance signals early positive indicators as we reposition Salt Investments for scalable and sustainable growth.”

Salt Investments, listed on the Singapore Exchange, operates in the infrastructure, marine, and offshore sectors, focusing on building an integrated maritime ecosystem across Southeast Asia.
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