Industry News

In the second quarter of 2025, Savills Research reported that the highest average median rents for 3-bedroom non-landed private residential units in Singapore were found in District 4 (Harbourfront/Telok Blangah) at $6,200 (S$8,500), District 1 (Boat Quay/Marina/Raffles Place) at $6,180 (S$8,475), and District 9 (Orchard/River Valley) at $5,470 (S$7,500). These districts continue to attract demand due to their central locations and lifestyle appeal.

Overall, median rents for 1-to-5-bedroom non-landed private properties remained stable quarter-on-quarter, indicating market stability. However, the popular 1- to 3-bedroom segment experienced a slight decline of 0.1% quarter-on-quarter. Specifically, rents in the Core Central Region and Rest of Central Region decreased by 0.3% and 0.1% respectively, whilst the Outside of Central Region saw no change.

Despite a minor dip in Q2, rents were still 1% higher than the same period last year. The 1- to 3-bedroom segment saw a 1.1% year-on-year increase, whereas 5-bedroom rents dropped by 3.9% as tenants opted for smaller, more affordable units. Year-on-year, rents rose by 1.1% for 1-bedroom units, 0.7% for 2-bedroom units, 2.0% for 3-bedroom units, and 2.3% for 4-bedroom units.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted, “The April 2025 US trade tariffs have heightened global uncertainty, leading many firms to delay hiring and expansion decisions. Whilst this may place some pressure on leasing activity, most landlords remain firm in their asking rents due to higher property taxes and rising conservancy charges.”

Looking forward, Savills anticipates that rents will remain largely flat for the remainder of 2025, unless there are significant macroeconomic or geopolitical changes.
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Shangri-La Singapore has announced the appointment of Yusuf Yaran as its new Resident Manager. With a career spanning more than two decades across various countries, Yaran is set to enhance the hotel’s operations with his extensive expertise in hotel management and food and beverage services. His previous role at Shangri-La’s Tanjung Aru Resort & Spa in Kota Kinabalu saw him lead a team of over 700 and introduce the acclaimed Green Fine Borneo Cuisine concept.

Yaran’s appointment comes as Shangri-La Singapore continues to uphold its reputation as a premier luxury destination. The hotel, the brand’s first globally, boasts 792 guestrooms and suites nestled within 15 acres of tropical gardens in Singapore’s heart. Yaran’s role will involve overseeing daily operations across the hotel’s dining concepts, banquet services, and its three distinctive wings: the Tower Wing, Garden Wing, and Valley Wing.

Having been part of the Shangri-La family since 2006, Yaran has held leadership roles in Kuala Lumpur, Jakarta, Shanghai, Manila, and Singapore. His strategic leadership in marketing, budgeting, and guest satisfaction has consistently delivered strong business results. “It is a true honour to be in vibrant Singapore and to join the team at Shangri-La’s flagship property,” Yaran remarked. “Together with our dedicated team, we will continue to deliver meaningful, memorable stays.”

Yaran’s global perspective and guest-centric approach are expected to further solidify Shangri-La Singapore’s standing in the luxury hospitality sector, ensuring it remains a top choice for both leisure and business travellers.
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OPPO Singapore has launched the SG60 campaign to celebrate Singapore’s 60th birthday, focusing on creativity, technology, and community engagement. As part of the campaign, OPPO has invited local photographers to participate in the OPPO LUMO Photography Awards 2025, encouraging them to capture the nation’s spirit under the theme “Super Every Singapore Moment” using their smartphones.

The campaign includes a social video featuring local celebrity Romeo Tan and the works of 20 photography enthusiasts. This video highlights the power of camera technology in fostering creative expression and connecting communities. The images showcase the everyday beauty and diversity of Singapore, from bustling coffee shops to national landmarks, demonstrating the professional-grade imaging capabilities of OPPO smartphones.

OPPO has also partnered with Nanyang Technological University (NTU) for the youth-driven OPPO Creative Studio. This initiative, part of NTU’s veNTUre programme, provides students with industry insights and challenges them to explore what SG60 means to them. Students use the OPPO Reno14 Pro to capture Singapore’s vibrant cityscape, sharing their interpretations on a dedicated Instagram account, FromThenToNowSG60.

Dylan Yu, Marketing Director of OPPO Singapore, stated, “By encouraging individuals to capture the beauty around them, OPPO reaffirms its commitment to empowering Singaporeans with a platform to express their creativity and commemorate this momentous day.”

The SG60 campaign reflects OPPO’s commitment to empowering local communities through technology and creativity. Looking forward, OPPO plans to continue supporting community-led storytelling and investing in technological innovation to engage Singaporean consumers more deeply.
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Trident Digital Tech Holdings Ltd, a Singapore-based leader in digital transformation, has announced its intention to secure stablecoin licences in multiple African countries to promote the adoption of Ripple USD (RLUSD), a US dollar-pegged stablecoin. This initiative is part of the company’s strategy to enhance financial inclusion and digital payments infrastructure across the continent.

The company recently embarked on a significant corporate crypto strategy, aiming to raise up to $500 million to establish one of the largest corporate XRP treasuries globally. This move highlights Trident’s commitment to decentralised finance as a driver of global financial evolution. Building on its expertise in Web 3.0 infrastructure and a recent public-private partnership in the Democratic Republic of the Congo, Trident is now focusing on the stablecoin sector.

Ripple’s RLUSD has quickly gained momentum, with over $500 million in circulating supply shortly after its issuance. The African market is already witnessing innovation in stablecoin payments, with initiatives like Circle’s USDC and Visa’s pilot programmes. Trident’s Founder, Chairman, and CEO, Soon Huat Lim, stated, “By pursuing stablecoin licences and RLUSD adoption in Africa, we are furthering our mission to enable Web 3.0 transformations in emerging markets.”

Trident is currently in discussions with regulatory authorities, financial institutions, and local partners to explore licensing pathways and infrastructure needs. The company plans to begin phased rollouts in pilot countries by mid-2026, contingent on legal frameworks and market readiness. This expansion underscores Trident’s role as a trusted Web 3.0 infrastructure partner in emerging markets.
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Centurion Corporation Limited has unveiled its Westlite Ubi property, a 1,650-bed Purpose-Built Worker Accommodation (PBWA) in Singapore, which has reached full financial occupancy by April 2025. This development highlights Centurion’s commitment to elevating living standards for migrant workers, aligning with the Ministry of Manpower’s New Dormitory Standards (NDS) well ahead of the 2040 mandate.

Westlite Ubi, located in the Eastern-Central Ubi area, offers modern facilities and amenities that exceed the NDS requirements. These include en-suite toilets, showers, and kitchens in all rooms, providing enhanced convenience for residents. The dormitory also features a minimart, canteen, and barber, ensuring easy access to daily necessities. Additionally, the facility includes a well-equipped gym and privacy corners, promoting both physical and emotional wellbeing.

The Multi-Purpose Hall at Westlite Ubi serves as a communal hub for social activities and can be converted into isolation facilities during emergencies, reflecting Centurion’s pandemic-preparedness plan. The dormitory’s strategic location near major industrial clusters makes it a preferred choice for employers.

Centurion’s CEO, Kong Chee Min, stated, “Westlite Ubi reflects the kind of living environment we believe should be the standard for migrant workers. Every element, from the layout of the rooms to the shared spaces and daily amenities, has been thoughtfully planned with the residents in mind.”

As Centurion continues to upgrade its portfolio, the company remains focused on setting higher standards for worker accommodation, ensuring the wellbeing of residents and meeting evolving regulatory expectations.
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SGX-listed Zheneng Jinjiang Environment has announced a significant increase in its financial performance for the first half of 2025, with net profit attributable to equity holders rising by 60.5% year-on-year to RMB332 million. This growth is attributed to enhanced operational efficiency and increased revenue from its waste-to-energy (WTE) business, which saw revenue climb to RMB1.79 billion.

The company’s gross profit also experienced a notable rise, increasing by 10.1% year-on-year to RMB699.1 million, with the gross profit margin improving by 3.3 percentage points to 38.4%. These gains are largely due to technical upgrades and management optimisation at existing WTE plants, as well as the expansion of grate furnace systems and increased revenue from slag by-products.

Looking ahead, Zheneng Jinjiang Environment is actively expanding its capacity, with six WTE projects currently under construction and 16 more in the planning stages. Upon completion, these projects are expected to boost the company’s total installed waste treatment capacity to 58,205 tonnes per day and 1,212MW.

The company’s strategic focus on improving operational efficiency and expanding capacity underscores its commitment to sustainable growth in the waste management sector. As the demand for efficient waste treatment solutions continues to rise, Zheneng Jinjiang Environment’s ongoing projects are poised to enhance its market position and financial performance further.
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Skyee Pte Ltd has announced the acquisition of a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS), effective from 1 August 2025. This development enables Skyee to provide a wide range of regulated payment services in Singapore, including account issuance, domestic and cross-border money transfers, merchant acquisition, and e-money issuance. The licence marks a significant step in Skyee’s expansion across Southeast Asia, enhancing its ability to streamline payment processing and reduce operational costs for cross-border customers.

The MPI licence is a testament to Skyee’s commitment to regulatory compliance and innovation in the financial technology sector. Since its inception in 2016, Skyee has focused on linking the global financial network and building a new payment system to facilitate cross-border fund transfers. The company’s CEO, Kozen Tan, remarked, “This milestone reflects our deep commitment to regulatory excellence, financial integrity, and delivering secure, innovative payment solutions to our customers across Singapore and the region.”

As Singapore continues to establish itself as a global fintech hub, Skyee’s entry into the market is expected to introduce fresh competition and stimulate further innovation in the payment services sector. With plans for continued product optimisation and regional expansion, Skyee aims to make a lasting impact on the future of fintech in Southeast Asia.

Based in Guangzhou, China, Skyee is a leading cross-border payment fintech company with offices in several major cities worldwide, including Singapore, Los Angeles, and London. The company offers secure and efficient global payment services through its proprietary platform, catering to a diverse range of overseas merchants and enhancing the international payments ecosystem.
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Centurion Corp has announced plans to list its Centurion Accommodation Real Estate Investment Trust (REIT), a move expected to unlock significant value for shareholdersm an RHB report said. The company, which remains well-positioned amidst a dormitory supply shortage in Singapore, anticipates better rental rates. The REIT listing is projected to offer a 19% upside, with a forecasted yield of approximately 2% for the financial year 2026.

The company’s first-half earnings for 2025 were in line with expectations, reinforcing confidence in meeting annual estimates. Analyst Alfie Yeo maintains a “BUY” recommendation with a target price of SGD2.01, reflecting the anticipated market value of the REIT assets.

This strategic move comes as Centurion Corp seeks to capitalise on the current market conditions, which favour higher rental yields due to limited dormitory supply. The listing is expected to enhance shareholder value by pegging the REIT assets to market value, thus providing a clearer reflection of their worth.

The announcement is part of a broader trend where companies are leveraging REITs to unlock asset value and provide investors with more transparent investment opportunities. As the market anticipates this listing, Centurion Corp’s strategy underscores its commitment to maximising shareholder returns and adapting to market dynamics.

Looking ahead, the successful listing of the Centurion Accommodation REIT could set a precedent for similar moves by other companies in the sector, potentially reshaping the landscape of real estate investments in Singapore.
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31 Concept, a rising force in network intelligence and cybersecurity, is set to reveal its first patent-pending technology at ISS Asia 2025 in Singapore. This announcement marks a significant milestone for the company, which has emerged from stealth mode after just seven months of development within its 31 Concept Research Lab.

The innovative technology, developed by a team of experts in deep packet inspection, AI-driven analytics, and advanced networking, aims to tackle real-world challenges at scale. CEO and Co-Founder Misha Hanin stated, “Our patent-pending technology is the direct result of the unique expertise and relentless drive inside our Research Lab. We built this in record time without compromising on quality or innovation.”

ISS Asia, a leading conference for intelligence, security, and law enforcement technologies, will serve as the platform for 31 Concept’s debut. The event attracts leaders from government, telecom, and private industry, providing an ideal venue for showcasing the company’s advancements.

Boriss Heismann, CTO of 31 Concept, highlighted the rapid development process, saying, “The speed at which the 31 Concept Research Lab turned a concept into a patent-pending reality shows the strength of our people and our process. This is technology designed to address the most pressing needs in network visibility, security, and performance.”

The presentation at ISS Asia 2025 will not only demonstrate the capabilities of the new platform but also outline future innovations currently in development. 31 Concept continues to focus on next-generation data intelligence platforms for telecom providers, governments, and regulated industries.
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Singapore’s vibrant musical heritage will be celebrated at the Sing60 Music Festival, a two-day event taking place on 6 and 7 December 2025 at Fort Canning Park. Organised by The Rice Company Limited and produced by Global Cultural Alliance, the festival aims to showcase the evolution of Singapore’s music over the past 60 years through a dynamic, multi-stage outdoor event.

The festival will feature performances from renowned local artists such as Mavis Hee, Charlie Lim, and Benjamin Kheng, alongside emerging talents. The event will also include rare reunions and collaborations in the Bandwagon Sessions, curated by Bandwagon, a leading Southeast Asian music media platform. Additionally, Bunker B2B will offer back-to-back DJ sets in a WWII bunker setting, highlighting the continuity of Singapore’s electronic music scene.

Sing60 is not just about music; it also aims to support the next generation of musicians. Every ticket sold will fund access for a child or youth from an underserved background, with initiatives like Gift-A-Guitar providing instruments and music education. “Sing60 Music Festival is a powerful statement on the strength and diversity of Singapore’s homegrown music,” said Nicholas Tee, Festival Director.

Tickets are available via SISTIC, with prices starting at $40 (£32) for a one-day pass and $60 (£48) for a two-day pass. Early bird promotions are available until 31 August. The festival promises to be a cultural milestone, celebrating Singapore’s musical legacy whilst investing in its future.
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