Industry News

New home sales in Singapore soared to a record high in October 2025, with 2,424 private homes sold, marking a significant rebound from the 255 units sold in September. This surge, nearly 10 times the previous month’s figures, also surpasses the year’s previous high of 2,142 units in August. The increase is attributed to attractive new launches, low interest rates, and a resilient economy boosting homebuying interest.

October’s performance brings the year-to-date total to 10,299 units, a 59.2% increase over the entire 2024 sales volume of 6,469 units. This marks the highest sales tally since 2021, when 13,027 units were sold. The top-selling projects in October included Skye at Holland, Zyon Grand, and Penrith, all of which saw robust demand due to their prime locations and appealing pricing.

Skye at Holland led the sales with 662 units sold at a median price of $2,949 per square foot (psf), achieving a 99% sales rate. Zyon Grand followed with 595 units sold at $3,038 psf, whilst Penrith moved 446 units at $2,791 psf. Faber Residence also performed well, selling 348 units at $2,149 psf.

The Rest of Central Region (RCR) dominated sales, accounting for 50.5% of October’s transactions, driven by the success of Zyon Grand and Penrith. The Core Central Region (CCR) also saw significant activity, with 724 units sold, largely due to Skye at Holland’s success.

Looking ahead, CBRE Research forecasts that 2025 could see total new home sales reach between 10,500 and 11,000 units. Private home prices, which have risen 2.7% in the first nine months of 2025, are expected to continue their upward trend, potentially matching or exceeding the 3.9% growth seen in 2024.

Singapore’s workplace environment is undergoing significant changes as artificial intelligence (AI) and monitoring technologies become more prevalent, according to ADP’s People at Work 2025 Report. The report highlights that 41% of Singaporean employees feel constantly monitored, placing the country fifth globally in this regard. This figure is 9% above the global average, indicating a growing concern over productivity expectations and workplace practices.

The report also reveals that uncertainty surrounding AI is on the rise, with 19% of workers in Singapore unsure about how AI will impact their roles. This uncertainty is particularly pronounced among knowledge workers, such as programmers and academics, who report twice the anxiety compared to skilled task workers. Additionally, Gen Z employees, aged 18 to 26, express the highest levels of anxiety, with 23% worried about AI’s effect on their future careers.

Jessica Zhang, Senior Vice President at ADP APAC, emphasised the importance of balancing technological advancements with employee well-being. “Technology and talent are evolving in tandem, and the rise of AI and hybrid work is redefining how employees experience trust, purpose, and productivity,” she stated. Zhang advocates for responsible deployment of AI and workplace tools to support rather than strain the workforce.

As organisations navigate this evolving landscape, the focus on transparency, empathy, and clear communication becomes crucial. Aligning digital transformation with employee well-being can foster trust, engagement, and sustainable performance, ensuring that technology serves as a tool for empowerment rather than a source of anxiety.

Bain & Company has announced the launch of an AI Innovation Hub in Singapore, supported by the Singapore Economic Development Board, to drive AI transformation across Southeast Asia. This initiative is part of a broader strategy outlined in Bain’s new report, “The Southeast Asia CEO’s Guide to AI Transformation,” which emphasises the need for CEOs to approach AI as a business transformation rather than just a technological upgrade.

The report highlights that whilst AI is reshaping global competition, its impact in Southeast Asia is still unclear due to the region’s unique characteristics, such as fragmented markets and low labour costs. Aadarsh Baijal, senior partner at Bain & Company, stated, “CEOs need to recognise that a successful AI strategy goes beyond deploying tools. Leaders should understand how AI will disrupt their market and anchor adoption in concrete business outcomes.”

The AI Innovation Hub will focus on developing AI solutions for sectors including advanced manufacturing, energy, financial services, healthcare, and retail. It aims to help companies transition from experimentation to enterprise-wide transformation by delivering proofs of concept and minimum viable products.

Mohan Jayaraman, another senior partner at Bain, noted the importance of leveraging existing talent within organisations for successful AI scaling. “From our work with clients across the region, we’ve seen that lasting impact comes when existing teams lead the change,” he said.

With over a thousand AI start-ups in Singapore and significant economic benefits projected by 2030, the hub is poised to contribute significantly to the region’s AI ecosystem. Junie Fo, Vice President of Professional Services at EDB, remarked, “Bain’s new AI Innovation hub is an exciting addition to Singapore’s vibrant and growing AI ecosystem.”

Clifford Capital, based in Singapore, has announced the successful pricing of its largest infrastructure asset-backed securities issuance, Bayfront VII, valued at US$705.5m. This issuance includes a diverse portfolio of 46 project finance and infrastructure loans and bonds, covering 44 projects across 17 countries and 13 industry sub-sectors.

Bayfront VII is notable for being Clifford Capital’s first issuance in the Rule 144A/Reg S format, allowing access to US qualified institutional buyers and purchasers. The issuance includes five classes of Senior Notes, with the Class X and Class A Notes receiving top credit ratings of Aaa (sf) and AAA sf from Moody’s and Fitch, respectively. The Class B and Class C Notes are rated Aa3 (sf) and Baa3 (sf) by Moody’s, whilst the Class D Notes remain unrated.

The securities will be listed on the Singapore Exchange, adhering to UK, EU, and US Risk Retention Rules. BNP Paribas, J.P. Morgan Securities plc, and Société Générale served as Joint Global Coordinators, Bookrunners, and Lead Managers, with MUFG Securities Asia Limited and Standard Chartered Bank (Singapore) Limited also participating.

Investor interest was diverse, with banks accounting for 39%, asset managers 29%, and insurance and pension funds 23%. Geographically, 52% of the investment came from Asia, 37% from North America, and 11% from EMEA.

Clifford Capital, established in 2012, continues to leverage its infrastructure credit platform to provide innovative financing solutions globally.

Tencent Cloud has expanded its strategic partnership with Ryde Group Ltd by launching a Weixin Mini Programme in Singapore. This initiative, announced on 18 November, aims to improve the tourism and mobility experience for Chinese visitors by allowing them to book Ryde rides directly through the Weixin (known internationally as WeChat) platform. This eliminates the need for additional app downloads, offering a seamless experience with fare displays in RMB and payments via Weixin Pay.

The collaboration builds on the previous integration of Tencent Cloud’s Real-Time Communication technology within the Ryde platform, enhancing in-app communications. Kenneth Siow, Regional Director for Southeast Asia and General Manager for Singapore and Malaysia at Tencent Cloud International, stated, “This expanded partnership underscores our firm commitment to deepening digital integration within the Weixin ecosystem.”

The Weixin Mini Programme is designed to cater to over 3 million Chinese tourists visiting Singapore annually, providing a familiar and localised booking experience. Nitin Dolli, CTO at Ryde Group, highlighted the importance of this partnership, saying, “The new Mini Programme enhances accessibility for over 3 million Chinese visitors each year, offering a familiar and localised booking experience.”

This development not only strengthens Ryde’s position as a leading mobility platform but also supports Singapore’s vibrant inbound tourism from China. The partnership exemplifies Tencent’s dedication to extending its digital solutions beyond China, delivering tangible benefits to overseas markets. As both companies continue to explore new opportunities, they aim to create smarter, more seamless experiences for users.

Deluxe Systems, the renowned Italian luxury windows and doors brand, has launched its first exclusive retail showroom in Singapore. This new space, located at 61 Ubi Ave 1, #02-02 UB Point, serves as a creative hub that merges refined European craftsmanship with tropical design sensibilities, marking a significant step in the brand’s international expansion.

The showroom spans two floors and is designed as a luxury residence, complete with a kitchen, living area, dining room, and patio. This setup allows architects, designers, and homeowners to experience the artistry of Italian-made windows and doors in realistic settings. Additionally, the showroom features spaces dedicated to seven renowned Italian sub-brands, each showcasing its unique aesthetic and craftsmanship story.

This development underscores Deluxe Systems’ mission to introduce authentic Italian innovation to Southeast Asia’s design-forward markets, blending heritage, technology, and sustainability. The Singapore showroom positions the city as a gateway for Italian design excellence in the ASEAN region.

GoRental SG, Higher Dimension Materials Inc. (HDM Inc.), and Pylon City have signed a Memorandum of Understanding (MOU) at COP30 in Belém, Brazil, to advance long-duration energy storage and intelligent energy systems in Singapore and Southeast Asia. This strategic collaboration seeks to enhance energy resilience and integrate renewable energy sources in the region.

The partnership leverages the unique capabilities of each company: GoRental SG’s distributed renewable-power systems, HDM Inc.’s Si707 molten-silicon energy storage technology, and Pylon City’s Nexus System for real-time energy monitoring and optimisation. Together, they aim to address the market gap in long-duration renewable storage, a critical issue highlighted by ongoing discussions on grid stability and energy security.

Colin Peh, Founder and Managing Director of GoRental SG, emphasised the practical necessity of long-duration storage, stating, “Long-duration storage is no longer a theoretical ambition, it is becoming a practical requirement for communities and businesses seeking stable, clean power. This collaboration is about building solutions that match the realities of the region: systems that are safe, scalable, and grounded in real-world use.”

The collaboration is expected to accelerate the development of energy solutions that are both innovative and applicable to real-world scenarios, benefiting communities and businesses in the region. As the partnership progresses, it could play a significant role in shaping the future of energy storage and sustainability in Southeast Asia.

Intrasia Group, a Singapore-based corporate and financial services management company, has announced the opening of its new regional entity, Intrasia Management ME, in Dubai. This expansion marks a significant milestone in the Group’s international growth, reinforcing its role as a bridge between Africa, the Middle East, and Asia.

The new Dubai office strengthens Intrasia’s global network, which already spans Mauritius, Singapore, and Cape Town. Graeme Robertson, Chairman of Intrasia Group, highlighted Dubai’s strategic importance: “Dubai is a logical location because it’s the centre of the financial world, which is changing rapidly and gravitating here.” He noted that the city’s connectivity and regulatory clarity make it an ideal hub for investors and entrepreneurs seeking cross-border financial solutions.

Intrasia Group aims to serve the mass affluent and emerging wealth tier, typically investing between $50,000 and $5m. The Group’s services include business setup, structuring, banking, insurance, and wealth management, tailored for clients in emerging markets. Robertson emphasised Dubai’s role as a nexus for global wealth and entrepreneurship, citing the emirate’s appeal to ultra-high-net-worth individuals and its progressive policies.

The Group plans to leverage its expertise in Mauritius and its AI-powered risk management platform to enhance compliance and efficiency. Intrasia’s near-term strategy includes opening new offices in London, Australia, and Singapore, with potential expansion into New York and Europe within three years. The Dubai office will serve as the Group’s GCC headquarters, covering Qatar, Oman, Saudi Arabia, and Bahrain.

The Straits Times Index (STI) has achieved a new milestone, closing at 4,546.07 after hitting a record high of 4,575.91. This marks a 25.8% total return for the year up to 14 November, bolstered by analyst upgrades and strategic shifts among non-bank constituents. The STI’s performance has been supported by modern investment platforms, which have encouraged gradual exposure to exchange-traded funds (ETFs) and stocks.

The STI’s competitive valuations, with a price-to-book (P/B) ratio of 1.5x, reflect a rise from 1.3x in June. ST Engineering led the STI constituents in 2025, delivering an 85% total return and maintaining the highest P/B ratio at 9.8x. The company’s success is attributed to a 74% upgrade in its consensus estimate target price.

The STI’s performance is significantly influenced by its three major banks—DBS Group Holdings, Oversea-Chinese Banking Corporation, and United Overseas Bank—which collectively account for 50.4% of the index. These banks reported a combined Non-Interest Income (NOII) exceeding S$5b for the first time in Q3 2025, marking a 13% increase from Q2 2025.

The STI’s robust performance in 2025 has been driven by strategic transformations and macroeconomic factors. Notably, DBS is the only bank among the top 10 STI stocks by total return for the year. The index’s overall strength is further evidenced by the significant growth in STI ETFs, which saw a 36% year-on-year increase in assets under management, reaching S$3.38b.

As the STI continues to evolve, its strategic shifts and analyst upgrades are expected to sustain its competitive edge in the market.

The Monetary Authority of Singapore (MAS) has introduced the 2026 Year of the Horse Almanac coins, marking the tenth release in the Singapore Fourth Chinese Almanac Coin Series. These coins, which are legal tender, can be pre-ordered from 18 November 2025 and will be available for public purchase from 1 January 2026.

The 2026 coins showcase the Horse, a symbol in the Chinese zodiac, set against the scenic backdrop of Punggol Waterway Park. This park is part of the North Eastern Riverine Loop and is known for its lush greenery and waterway views. Each coin also features the Singapore Coat of Arms and the year 2026.

Available in 10 variations, the coins differ in face value, shape, metallic composition, and minting relief effects. Special premium sets, combining various coins, are also on offer. Pre-orders can be made through The Singapore Mint until 14 December 2025. In the event of oversubscription, allocation will be determined by ballot.

The series, which began in 2017, releases a new coin annually, each depicting a zodiac animal in a Singaporean park or natural setting. The 2026 edition includes coins made from nickel-plated zinc, silver, and gold, with mintage numbers ranging from 50,000 for the nickel-plated coin to just 100 for the 5 troy oz Gold Proof Coin. Each coin, except the nickel-plated version, comes with a certificate of authenticity.