Industry News

Singapore’s construction sector is investing heavily in technology, with 28% of expenditure now directed towards digital tools, according to the latest report by Autodesk and Deloitte. This marks a significant 30% increase from the previous year, highlighting the industry’s commitment to digital transformation amidst economic challenges.

Singapore’s construction firms are at the forefront of digital adoption in the Asia Pacific region, utilising an average of 7.3 technologies, surpassing the regional average of 6.2. This positions Singapore second only to India in terms of technology use. The report indicates that businesses with higher digital maturity are experiencing improved project outcomes and financial performance, with a notable reduction in safety incidents.

Jeff Larrick, Senior Director of APJ Construction Cloud at Autodesk, emphasised the importance of this trend, stating, “It is highly encouraging to see construction businesses in Singapore continue accelerating their investment into technology over the last few years, positioning them well to capitalise on opportunities arising from the slew of major local infrastructure projects on the horizon.”

Despite the progress, challenges remain. Economic uncertainty, labour costs, and the cost of raw materials are among the top concerns for Singaporean construction firms. Additionally, the lack of technical skills and budget constraints are barriers to further digital adoption.

Looking ahead, the industry is poised for further growth, with the Building and Construction Authority forecasting construction contracts worth up to $38.5 billion (S$53 billion) in 2025. As digital tools continue to prove their value, Singapore’s construction sector is well-positioned to navigate future challenges and opportunities.
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Coach has launched its first Singaporean outlet of The Coach Coffee Shop at WEAVE, Resorts World Sentosa. This marks a significant step in Coach’s evolution from a heritage fashion brand to a global lifestyle brand, expanding its hospitality concepts in the region. The coffee shop, located at the forefront of the retail store, captures the essence of New York City, Coach’s hometown, with its urban architectural elements and lush greenery.

The Coach Coffee Shop offers an all-day menu featuring American classics with a twist. Highlights include the Fully Loaded Reuben, Grilled Cheese, and a weekend-exclusive Classic Cheeseburger. For dessert lovers, the shop serves American crullers in flavours like Raspberry Glazed and Apple Crumble, alongside signature soft serves such as Peanut Butter & Jelly and the Singapore-exclusive Chilli Crab Soft Serve.

The beverage menu is equally enticing, with options like the Strawberry Matcha Latte and Orange Cream. This Singapore location is the first to introduce a seasonal menu, showcasing Coach’s commitment to quality and creativity in its culinary offerings.

The shop’s design features industrial fixtures, concrete walls, and decorative LED lighting, with the beloved coffee cup mascot, Lil Miss Jo, adorning to-go cups and napkins. Exclusive merchandise, including Lil Miss Jo tote bags and coffee mugs, is available for purchase.

Located at WEAVE, Resorts World Sentosa, The Coach Coffee Shop is open daily from 9am to 8pm, inviting visitors to experience a unique blend of fashion, culture, and community.
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Despite global trade uncertainties, Singapore’s logistics sector remains robust, with 76% of logistics occupiers in the Asia Pacific region planning to expand their real estate footprint over the next three to five years, according to CBRE’s 2025 Asia Pacific Logistics Occupier Survey. Singapore ranks as the second most attractive market in Southeast Asia, just behind Vietnam, highlighting its strategic importance.

The survey, conducted with over 380 companies between March and April 2025, reveals that factors beyond cost, such as Singapore’s reliable operating environment and strong regional connectivity, are crucial for logistics tenants. Graeme Bolin, Head of Occupier and Leasing, Industrial & Logistics Services at CBRE Singapore, noted, “Singapore continues to draw global occupiers, thanks to its reputation as a strategically located, neutral, and stable logistics hub.”

Infrastructure developments like the PSA Supply Chain Hub @ Tuas and Tuas Port are enhancing Singapore’s logistics capabilities. Recent facility launches by global players such as DHL Supply Chain and DP World further demonstrate occupier commitment. Investor interest is also strong, with capital flowing into modern logistics assets like Sunview Hub and DSV Pearl, supporting long-term growth.

The report highlights Singapore’s status as a major logistics hub, particularly for hi-tech manufacturing and life sciences sectors. An influx of new supply in 2025 is expected to create opportunities for lease renegotiations and meet pent-up demand. Across Asia Pacific, logistics occupiers are prioritising cost efficiency and strategic location, with 78% identifying rent reduction as a key driver for relocation.

Michael Bowens, Head of Industrial & Logistics Leasing, Asia Pacific at CBRE, advises occupiers to consider total occupancy costs, including transportation and labour, when planning real estate strategies. This comprehensive approach is reflected in Singapore, where strategic positioning and operational efficiency remain priorities amidst shifting trade dynamics.
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Central Singapore Community Development Council (CDC) and Si Chuan Dou Hua Restaurant have launched the Kitchen of Love Central, a mobile kitchen initiative aimed at delivering quality food and entertainment to underserved communities in the Central Singapore District. The programme, which began on 1 August at Kampong Glam Community Club, will rotate across various locations, offering signature Sichuan dishes and performances to more than 1,000 residents.

The launch event featured popular Sichuan dishes such as Dan Dan noodles and dumplings, with participants receiving DIY noodle kits to recreate the restaurant’s dishes at home. This collaboration marks a continuation of a 14-year partnership between Central Singapore CDC and Si Chuan Dou Hua Restaurant, expanding their social impact beyond annual festive events.

Denise Phua, Mayor of Central Singapore District, highlighted the initiative’s broader reach and impact, stating, “Kitchen of Love draws on the time-tested formula of our Festive Cheers initiative in a bold new format for a wider reach and impact.” Si Chuan Dou Hua Restaurant’s Executive Director, Wee Wei Ling, expressed the restaurant’s commitment to community service, noting, “Food carries the power to connect, heal, and move hearts.”

In addition to the mobile kitchen, Si Chuan Dou Hua Restaurant has pledged $50,000 to provide low-income families with kitchen care packages, including essential appliances and signature dishes. Future plans include culinary training for selected beneficiaries, empowering them to contribute to their communities.

Kitchen of Love Central is part of Central Singapore CDC’s broader initiative to engage corporate partners in supporting disadvantaged residents, offering a platform for businesses to fulfil their corporate social responsibility whilst creating meaningful community experiences.
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The Singapore shophouse market experienced a slowdown in the first half of 2025, with only 42 transactions recorded, totalling S$462.9 million. This marks a decline from the 50 transactions and S$520.2 million in sales value seen in the second half of 2024. Despite the reduced activity, the average unit price saw a slight increase of 0.5% to S$6,431 per square foot (psf) on land, according to Knight Frank Singapore.

The market’s subdued performance is attributed to a shift in investor interest towards living sector assets, as the food and beverage (F&B) sector faces challenges. Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, noted, “With the F&B sector facing challenges in recent times, living sector assets in shophouses are growing more attractive to investors.”

Freehold shophouses accounted for 37 of the 42 transactions, with a total sales value of S$358.4 million, down 25.5% from H2 2024. The average unit price for these properties decreased by 4.1% to S$6,217 psf on land. In contrast, leasehold shophouses saw a significant increase in sales value, rising 165.3% to S$104.6 million, despite one fewer transaction.

Shophouse hotels played a key role in supporting market activity, with notable sales including 21 Carpenter for S$100 million and Duxton Reserve for S$80 million. The market outlook remains cautious, with economic uncertainties and conservative GDP growth projections influencing investor behaviour. Total sales volume for 2025 is expected to be between S$700 million and S$800 million, lower than the S$947.8 million recorded in 2024.
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The FTSE ST Industrials Index recorded an impressive 13.2% increase in July, significantly outpacing the STI’s 5.5% return. This surge lifted the Industrials Index’s year-to-date gain to 29.2%, with standout performances from companies such as Wee Hur Holdings, Frencken Group, and Samudera Shipping Line. The Industrials Sector’s strength is attributed to a growing focus on reindustrialisation, which has been a key theme in both the US and Singapore markets.

Institutional investors played a significant role in this trend, with net purchases of S$396.6 million in Singapore stocks during July. This activity helped reduce the seven-month net outflow to S$1.67 billion. The Industrials Sector led the net institutional inflows, driven by companies like Keppel, Yangzijiang Shipbuilding, and Seatrium, whilst Real Estate Investment Trusts (REITs) saw the largest net outflows.

The market’s performance in July was influenced by a mix of global economic factors, including resilient GDP data and uncertainties surrounding tariffs and Federal Reserve rate expectations. Fed Chair Powell highlighted the potential temporary inflationary effects of higher tariffs, which could impact prices for some goods.

As the Industrials Sector continues to lead market gains, the focus remains on the integration of critical technologies and the opportunities presented by value chain realignments. This sector’s performance underscores its pivotal role in the broader economic landscape, with implications for future market trends.
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Promenade Peak, located in Zion Promenade, achieved significant sales success during its launch weekend, selling 56% of its 596 units by 2 August. The development, which is near River Green, saw robust demand for its two-bedroom and three-bedroom units, which accounted for 82% of sales. The four-bedroom units also performed well, with 47% of the 57 units sold. Kelvin Fong, CEO of PropNex, noted that the demand for larger units suggests many buyers are end-users seeking homes for personal use.

Prices at Promenade Peak began at $1.4 million for one-bedroom units, $1.8 million for two-bedroom units, and $2.8 million for three-bedroom units. The larger four-bedroom and five-bedroom units were priced between $4.6 million and $6.6 million. The variety of unit sizes, particularly the larger, family-friendly flats, is expected to appeal to HDB upgraders from nearby estates such as Tiong Bahru and Queenstown.

The development’s proximity to amenities like the Great World mall, two MRT stations, and Zion Riverside Food Centre enhances its attractiveness to potential buyers. As the latest project in the Rest of Central Region, Promenade Peak is set to boost sales in this sub-market in Q3 2025, alongside LyndenWoods in Science Park.

The launch of Promenade Peak was part of a broader trend, with three new private condo projects launched over the weekend, collectively selling over 62% of their inventory. This strong performance reflects continued confidence in Singapore’s residential property market.
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Dezign Format has announced the launch of a placement of 32.5 million new shares at S$0.20 each, aiming to raise S$4.8 million in net proceeds. The funds will support the company’s expansion in immersive location-based entertainment (LBE), strategic partnerships, and working capital needs. Applications for the shares will close on 13 August 2025, with trading set to commence on 15 August 2025.

The creative industry is undergoing significant disruption, and Dezign Format is strategically positioned to capitalise on this shift. The company is set to host an exclusive investor briefing where its leadership will outline their initial public offering (IPO) roadmap and strategic vision for market expansion. This event will provide insights into how Dezign Format plans to capture market share in the $150 billion global design industry, leveraging its proprietary technology stack to reshape creative workflows.

The demand for creative services has surged by 40% post-pandemic, making design automation a critical infrastructure. Dezign Format’s expansion plans include targeting emerging markets and new verticals, which could be pivotal for investors looking to adjust their portfolio strategies. The investor briefing will allow for direct interaction with C-suite executives, offering a platform for unscripted discussions on the opportunities and challenges the company faces.

This strategic move by Dezign Format highlights the growing importance of innovation in the creative sector and sets the stage for potential growth in a rapidly evolving market.
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Tiong Seng Holdings Limited has announced the reappointment of Pek Lian Guan as Executive Director and Chief Executive Officer, effective immediately. Pek, who previously held these roles from 2010 to 2020, returns to the helm as part of a strategic move by the Board to enhance board composition, strengthen operational resilience, and drive sustained growth. His predecessor, Pay Sim Tee, will step down as CEO but will remain an Executive Director on the Board.

With over 30 years of experience in civil engineering and construction, Pek has been pivotal in transforming Tiong Seng into a leader in innovative and sustainable building practices. A First Class Honours graduate in Civil Engineering from Loughborough University, UK, Pek has led the company to numerous achievements, including being the first construction firm in Singapore to win the Singapore Quality Award in 2013.

Under Pek’s leadership, Tiong Seng has been at the forefront of advanced construction technologies and green building practices. He has also been actively involved in national efforts to raise productivity standards, serving on various private and public sector committees. Continental Steel’s Executive Director, Ronnie Lim, remarked, “Tiong Seng’s exceptional track record in construction innovation and excellence aligns perfectly with our strategic vision for sustainable urban development.”

Established in 1959, Tiong Seng Holdings Ltd. is a leading building and civil engineering contractor in Singapore, with a comprehensive track record in both private and public sector projects. The company is listed on the Mainboard of the Singapore Exchange and continues to focus on building construction, property development, and engineering solutions.
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Singapore has emerged as the most targeted nation globally for regulatory extortion by hackers, according to the 2025 Global Ransomware Risk Report by Semperis. The report, which surveyed nearly 1,500 organisations worldwide, reveals that 66% of Singaporean organisations have experienced threats from hackers to file regulatory complaints if incidents go unreported. This figure surpasses the 47% average across other major economies, including the US, UK, and Germany.

The Asia-Pacific region, including Singapore, is particularly vulnerable, with 61% of organisations reporting at least one successful cyberattack. The report highlights that 85% of affected organisations in the region have paid ransoms to restore systems or protect data, a significantly higher rate than in other regions such as Europe, where only 50% have done so.

Ransomware attackers primarily leverage the threat of releasing sensitive data, with 82% of organisations citing this as a major pressure point. Gerry Sillars, Vice President for Asia Pacific and Japan at Semperis, emphasised the importance of robust data governance and crisis communication protocols, stating, “As data confidentiality becomes increasingly critical, ransomware groups are tailoring their extortion methods to exploit both operational vulnerabilities and executive-level anxieties.”

The report also notes that ransomware attacks often lead to leadership changes, with 67% of Singaporean organisations experiencing C-level resignations or dismissals following an attack. Mickey Bresman, CEO of Semperis, warned against paying ransoms, stating, “Every dollar handed to ransomware gangs fuels their criminal economy, incentivising them to strike again.”

To combat these threats, the report recommends that organisations prioritise identity-first security strategies and conduct regular exercises to strengthen their response capabilities. Semperis continues to support global organisations in defending against cyberattacks, particularly focusing on hybrid identity systems.
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