Industry News

Savills Singapore has announced the public tender for a partial plot at The Centrepoint, located at 176A Orchard Road. The sale includes 132 leasehold strata units, comprising 66 retail and 66 residential units, under Management Corporation Strata Title Plan No. 1304. This offering presents a rare chance for investors to acquire a strategically located development on Singapore’s iconic shopping belt.

The property, with a 99-year leasehold tenure and approximately 52 years remaining, spans a site area of about 44,700 square feet. Under the 2025 Master Plan, it is zoned “Commercial” with a gross plot ratio of 5.6 and a height control of up to 10 storeys. The Singapore Land Authority has verified a development baseline of approximately 171,482 square feet, with a maximum allowable Gross Floor Area of about 250,320 square feet.

Jeremy Lake, Managing Director of Investment Sales & Capital Markets at Savills Singapore, expressed confidence in exceeding the guide price of $418m, equating to $2,709 per square foot per plot ratio. He highlighted the property’s direct link to Somerset MRT station and its prime location as key attractions for developers.

Savills has a strong track record of brokering major collective sales along Orchard Road, including Concorde Hotel & Shopping Mall and Delfi Orchard. The public tender for The Centrepoint units will open on 7 January 2026 and close on 26 February 2026 at 3pm. There are no restrictions on foreign ownership, making this an attractive opportunity for both local and international investors.

Grab Holdings Ltd, the Singapore-based ride-hailing and delivery giant, has announced the acquisition of Infermove, a Chinese AI robotics firm. This strategic move, revealed during a global meeting in December, is set to bolster Grab’s automated delivery capabilities, particularly in the last-mile segment of its logistics operations.

Infermove, founded in 2021 by Aaron Lu, specialises in autonomous driving systems and mobile manipulation robots. The company’s innovative technologies, including pavement delivery robots and personal mobility robots, are designed to navigate complex real-world environments. Infermove’s proprietary Rider Shadow System allows for the efficient collection of training data, addressing industry challenges related to data acquisition.

The acquisition is expected to significantly enhance Grab’s service reliability and profit margins amidst rising labour costs and growing demand for on-demand deliveries. Infermove will continue to operate independently under Lu’s leadership, reporting directly to Grab’s Chief Technology Officer, Suthen Thomas.

Industry analysts highlight the rapid growth of the global last-mile delivery robotics market, projected to exceed $20b by 2027. This acquisition positions Grab to leverage AI-driven automation as a competitive advantage in the delivery sector.

Grab, which went public via a SPAC merger in 2021, continues to invest in technological advancements across its services. The integration of Infermove’s solutions is anticipated to complement Grab’s existing delivery network and support its expansion efforts in Southeast Asia and beyond.

Private residential property prices in Singapore saw a 0.7% increase in Q4 2025, driven by robust sales and the landed homes segment, according to flash estimates from the Urban Redevelopment Authority (URA). In contrast, Housing & Development Board (HDB) resale flat prices remained unchanged, marking the first time since Q1 2020 that prices did not rise, amidst softer resale volumes.

The landed homes segment led the charge with a 3.5% quarter-on-quarter (QOQ) price growth, its strongest in two years, despite a decrease in transactions from 559 in Q3 to 491 in Q4. This segment’s prices have risen by 7.7% in 2025, significantly higher than the 0.9% increase in 2024, likely buoyed by lower interest rates.

Non-landed private homes, however, experienced a slight dip of 0.1% QOQ, reversing the previous quarter’s 0.8% increase. The Outside Central Region (OCR) saw the largest price increase in this category at 1.0% QOQ, whilst the Core Central Region (CCR) experienced a 3.2% decline, ending a four-quarter growth streak.

Kelvin Fong, CEO of PropNex, noted that the moderate price growth in the private housing segment contributed to a more sustainable market environment, reducing the fear of missing out and hype. He highlighted the resurgence in CCR demand, with local buyers accounting for 82.6% of non-landed new private home sales in the region in 2025.

Looking ahead, PropNex anticipates a resilient private housing market in 2026, supported by stable interest rates and a robust pipeline of new launches. Private home prices are expected to grow moderately by 3% to 4% in the coming year.

Esco Aster, a cell and derivatives contract research, development, and manufacturing organisation (CRDMO) based in Singapore, has signed a clinical cGMP manufacturing contract with Shine-On Biomedical. The collaboration focuses on Shine-On’s innovative HLA-G targeting exosome drug delivery platform, which aims to enhance drug delivery efficiency. This partnership follows Shine-On’s sponsorship of Esco Aster in 2023 for cGMP services, which included high-yield exosome development using Esco Aster’s cell line platform.

The partnership is significant as it supports Shine-On’s Investigational New Drug (IND) submission, which was cleared by the US Food and Drug Administration (FDA) in Q1 2025. Esco Aster’s comprehensive technical reports on process, analytical, and formulation development, as well as exosome drug loading and stability studies, were crucial in this approval process.

Esco Aster is also providing technical services for exploratory exosome loading feasibility studies, as instructed by Shine-On Biomedical. Shine-On is recognised as an emerging innovator in the field of exosome-based drug delivery, and this collaboration is expected to advance their proprietary product development.

This partnership highlights the growing importance of exosome technology in drug delivery systems, potentially leading to more effective treatments. The collaboration between Esco Aster and Shine-On Biomedical could pave the way for future innovations in the pharmaceutical industry, enhancing the delivery and efficacy of therapeutic agents.

Singapore has been ranked seventh in Savills’ inaugural Matcha Index, which evaluates global tech cities based on urban liveability, café culture, and matcha affordability. The index, led by Tokyo, London, and Seoul, highlights Singapore’s vibrant café scene and its appeal to tech workers despite higher matcha latte prices, averaging US$5.43.

The Matcha Index, part of Savills’ Tech Cities research, underscores the importance of café culture in supporting tech ecosystems. Sulian Tan-Wijaya from Savills Singapore noted, “Singapore has a vibrant and rich café culture. Besides the strong presence of established and new coffee chains, our café culture has evolved to embrace anything Matcha.”

The study reveals that whilst Singapore’s matcha lattes are among the pricier options, the city remains competitive due to its strong café availability and quality. This aligns with broader lifestyle trends, as matcha is favoured for its health benefits and slow-release energy, appealing to the wellness-focused tech workforce.

Charlotte Rushton from Savills World Research commented, “The Matcha Index reveals a clear pattern: tech cities that successfully blend lifestyle and innovation tend to thrive.” The index suggests that vibrant café cultures are crucial for urban liveability and connectivity, fostering networking and a blend of work and leisure.

As Singapore continues to embrace matcha trends, including innovative matcha rave parties, it solidifies its position as a leading tech hub, offering a unique blend of lifestyle and professional opportunities.

Concord New Energy Group Limited has successfully completed its secondary listing on the Singapore Exchange (SGX) Mainboard, marking a significant milestone as the first China renewable energy company to do so in 2026. CGS International Securities Singapore Pte. Ltd. acted as the sole issue manager for this landmark transaction, which aims to broaden Concord New Energy’s capital markets presence in Asia.

The listing, under the ticker symbol SEG, is the first on SGX this year and supports Concord New Energy’s global expansion in wind, solar, and energy storage sectors. Jason Saw, Group Head of Investment Banking at CGS International, highlighted Singapore’s role as a strategic gateway for companies seeking diversified, long-term capital. “As the sole issue manager, we are pleased to support Concord New Energy in broadening its investor base and advancing its global growth strategy,” Saw stated.

Liu Shunxing, Board Chairman of Concord New Energy, expressed the company’s commitment to strengthening corporate governance and engaging with international capital markets. “Our secondary listing on the Singapore Exchange represents a key step in advancing our global business strategy,” Liu said.

This achievement marks CGS International’s third secondary listing of a Chinese firm on the Singapore Exchange, following Helen’s International Holdings in 2024 and China Medical Systems in 2025. The move is expected to attract more international long-term capital to support Concord New Energy’s renewable energy business expansion globally.

The FTSE ST Industrials Index achieved a remarkable 44% total return in 2025, with a further 3% gain in early January trading. Comprising 16 stocks from the FTSE ST All-Share Index, the Index recorded S$265m in net institutional inflows last year and maintained an average daily turnover of S$193 million. This performance underscores the sector’s pivotal role in Singapore’s economy, spanning construction, engineering, marine, and environmental services.

Hong Leong Asia and Marco Polo Marine emerged as standout performers. Hong Leong Asia, a diversified industrial group, achieved 173% total returns in 2025, driven by strong growth in powertrain unit sales and new energy initiatives. Marco Polo Marine, a regional marine logistics company, expanded its fleet and capabilities, securing major contracts like a S$198m shipbuilding project for Taiwan’s National Academy of Marine Research.

The broader group of FTSE ST Industrials Index constituents and other Singapore-listed industrial stocks with market capitalisation above S$100m saw median total returns of 61% in 2025, supported by S$741m in net institutional inflows. Companies like Sanli Environmental and Soilbuild Construction Group experienced significant increases in trading activity in the second half of 2025.

Looking ahead, the industrial sector’s ability to integrate within regional supply chains and leverage technology and sustainability practices will be crucial for sustaining growth. Government initiatives, such as infrastructure development and the green transition, are expected to continue providing tailwinds for the sector.

Aires Applied Quantum Technology, a Singapore-based company, is making significant strides in the quantum technology sector by developing Southeast Asia’s first post-quantum cryptography (PQC) patents. Founded by a mathematician and a former banker, Aires focuses on software-driven quantum-safe tools, integrating them into common enterprise systems to prepare businesses for post-quantum risks.

Aires has filed internationally recognised PQC patents, covering encryption, IoT security, and quantum simulation algorithms. The company’s technology is developed by an independent Singapore-based research team, avoiding external dependencies. Aires’ intellectual property portfolio includes patents filed in Singapore, the US, and Japan, with support from organisations like Enterprise Singapore and Innovate UK.

The company’s approach is unique in the quantum start-up landscape, which often involves high capital expenditure and long research cycles. Aires focuses on lean algorithmic development, allowing it to operate profitably whilst expanding its patent portfolio and international partnerships. This strategy positions Aires as a commercially viable deep-tech model in the region.

Ken Lin, co-founder and managing director at Aires, highlighted the importance of proprietary algorithms and in-house research, stating, “Recent patent consolidations by leading global firms underline how quickly proprietary algorithms and in-house research are becoming the core determinants of value.”

As Singapore aims to secure its digital infrastructure and strengthen its economic competitiveness, Aires’ development reflects the growing recognition of local innovation’s role in building a resilient quantum ecosystem. The company’s efforts contribute to Singapore’s long-term quantum strategy, supporting businesses in adopting quantum-safe practices.

Retail sales in Singapore experienced a notable increase of 6.3% year-on-year in November 2025, according to the latest figures from SingStat. This growth follows a 4.4% rise in October 2025, highlighting a continued upward trend in consumer spending. Excluding motor vehicles, retail sales grew by 5.8%, building on a 3.7% increase the previous month. The total retail sales value reached S$4.4b, with online sales accounting for 16.9% of this figure, up from 14.5% in October.

The rise in online sales was largely driven by year-end shopping events such as Singles’ Day and Black Friday. Notably, online sales comprised 60.6% of sales in the Computer & Telecommunications Equipment sector, 40.7% in Furniture & Household Equipment, and 12.6% in Supermarkets & Hypermarkets.

In contrast, the Food & Beverage (F&B) services sector saw a more modest year-on-year growth of 2.5% in November, consistent with the growth seen in October. However, on a seasonally adjusted basis, F&B sales fell by 0.8% compared to the previous month. The total sales value for F&B services was estimated at S$1.0b, with online sales making up 24.8% of this total.

Within the F&B sector, Fast Food Outlets and Food Caterers each recorded a 7.0% increase in sales, whilst Cafes, Food Courts, and Other Eating Places grew by 2.0%. Conversely, Restaurants experienced a slight decline of 0.4% in sales.

These figures underscore the growing importance of online sales in Singapore’s retail landscape, particularly during major shopping events, whilst the F&B sector continues to face challenges in maintaining consistent growth.

Knight Frank Singapore has announced the appointment of Dr Alan Wong as Chief Operating Officer and Head of Facilities Management at Knight Frank Property and Facilities Management Pte Ltd, effective 5 January 2026. Reporting to CEO Galven Tan, Wong will spearhead digital transformation efforts to enhance the firm’s market position in property and facilities management.

Wong, who succeeds Peter Tan, will ensure a seamless transition for ongoing projects and collaborate with the existing team to expand the Facilities Management business. With a background in telecommunications, digital app solutions, and community care, Wong brings a wealth of experience in transforming traditional organisations.

In his role as COO, Wong will work closely with Eleana Teo, Managing Director and Head of Strata Management, to drive operational efficiency and business growth. Together, they aim to strengthen KFPFM’s digital platforms and develop innovative strategies for stakeholders.

Galven Tan expressed confidence in Wong’s ability to elevate operational efficiencies and foster an agile, innovative culture at KFPFM. “Alan is a seasoned C-suite professional with extensive experience in key senior operational and strategic roles,” Tan stated. “We are very excited about the next phase of growth for our business.”

Wong emphasised his commitment to technology-enabled solutions and operational efficiency, stating, “I am excited to drive KFPFM’s next chapter of growth and success to deliver sustainable, long-term value to our clients.”

This strategic appointment marks a significant step for Knight Frank Singapore as it seeks to enhance its service offerings and maintain its leadership in the property management sector.