Industry News

Singapore’s Real Estate Investment Trusts (REITs) are witnessing a resurgence in investor interest, driven by attractive valuations and a favourable yield spread, according to a DBS Group Research report. As the second half of 2025 unfolds, retail REITs are expected to deliver the most robust organic growth, closely followed by logistics and data centre sectors. Office REITs continue to surprise with positive rental reversions, contributing to the sector’s overall appeal.

The growth in distributable income is anticipated to outpace net property income, signalling a positive shift influenced by interest rate dynamics. Mid-cap REITs, such as LREIT, EREIT, and ELITE, present value-up opportunities with high yields ranging from 6% to 9%.

CapitaLand Integrated Commercial Trust (CICT) has been highlighted as a standout performer, achieving a 3.5% year-on-year increase in its first-half distribution per unit (DPU) to 5.62 Singapore cents. This performance surpasses expectations due to strong rental reversions and reduced financing expenses. CICT’s acquisition of the remaining 55% stake in CapitaSpring Commercial is expected to provide accretive upside through master lease renewals in the financial years 2026–2027.

The trust’s strategic acquisitions, retail asset enhancement initiatives, and contributions from renewed Gallileo leases are projected to support a consistent 3% annual DPU growth. Analysts maintain a ‘buy’ rating for CICT, with a higher target price of SGD 2.50, implying a forecasted yield of 4.5% for the financial year 2025.

As Singapore’s REIT market continues to evolve, investors are poised to capitalise on the promising growth prospects across various sectors, reinforcing the market’s attractiveness, DBS Group Research said.
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A new initiative by the Competition and Consumer Commission of Singapore (CCCS) and the Consumers Association of Singapore (CASE) will see major supermarket chains in Singapore, including NTUC FairPrice, Sheng Siong, Prime Supermarket, Cold Storage, and Giant, participate in a unit pricing pilot programme starting 1 September 2025. This eight-week trial aims to improve price transparency by displaying unit prices for selected grocery items, such as rice, meat, and vegetables, allowing consumers to make more informed purchasing decisions.

The pilot will involve displaying the price per unit of measurement, such as per litre or per kilogram, alongside the selling price. This approach is designed to help consumers easily compare prices across different brands and packaging sizes. During the trial, shoppers may be approached by a market survey firm engaged by CCCS to provide feedback on the initiative.

Alvin Koh, Chief Executive of CCCS, emphasised the importance of consumer participation, stating, “This pilot represents an important step towards the potential introduction of unit pricing in Singapore. We are keen to hear your suggestions and experiences.”

Melvin Yong, President of CASE, highlighted the significance of the initiative for budget-conscious shoppers, noting that countries like the UK and Australia have already benefited from similar approaches. CASE has been offering unit pricing on its Price Kaki app since 2023, receiving positive feedback.

The pilot’s insights could lead to broader adoption of unit pricing across Singapore, empowering consumers to shop more confidently and effectively manage their budgets.
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Together Diamonds has officially launched in Singapore, marking a significant innovation in the jewellery industry by transforming life’s milestones into keepsake diamonds. The brand is the first in Singapore to create authentic, IGI-certified diamonds from the hair, fur, or ashes of loved ones and pets using advanced High-Pressure High-Temperature technology. This service provides a deeply personal way to celebrate relationships and memories, from engagements and anniversaries to everyday gestures of love.

The company distinguishes itself by offering the most affordable prices in the industry without compromising on quality. Customers can expect custom diamonds delivered in just three months, a significant reduction compared to competitors’ timelines. Together Diamonds also ensures full transparency by documenting the entire crafting process of each diamond. Every diamond meets exceptional standards, with DEF colour, VS clarity, and an excellent cut, and comes with free IGI certification for diamonds 0.5 carats and above.

The launch coincides with the opening of Together Diamonds’ first physical store at Excelsior Shopping Centre, providing customers the opportunity to explore bespoke jewellery collections and consult with experts. Founder Andrew Lim, who previously established the keepsake jewellery brand Apartsg, aims to redefine the emotional significance of lab-grown diamonds. “Together Diamonds is all about celebrating every milestone,” Lim stated, emphasising the importance of commemorating life’s moments beyond memorials.

Together Diamonds offers a creative approach to keepsake jewellery, allowing customers to create diamonds symbolising family unity, enduring love, or memorial tributes. The brand’s innovative concept encourages individuals to celebrate life’s important moments with a personal touch, turning them into everlasting brilliance.
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The Institute of Valuers and Appraisers Singapore (IVAS) has announced a series of initiatives aimed at advancing business valuation excellence. These were unveiled at the IVAS-IVSC Business Valuation Conference 2025, held on 27 August. The initiatives focus on regional expansion, strengthening international collaboration on valuation guidelines, and enhancing the recognition of the Chartered Valuer and Appraiser (CVA) programme.

The IVAS is set to bolster its regionalisation efforts, which are expected to facilitate greater cooperation and standardisation in business valuation practices across borders. This move is anticipated to benefit professionals in the valuation industry by providing a more cohesive framework and fostering international partnerships.

A key component of the announcement is the emphasis on the CVA programme. By increasing the recognition of this certification, IVAS aims to elevate the professional standards and credibility of valuers in Singapore and beyond. This initiative is expected to attract more professionals to the programme, thereby enhancing the overall quality of business valuation services.

The conference highlighted the importance of these initiatives in aligning Singapore’s valuation practices with global standards. This alignment is crucial for maintaining the competitiveness of Singapore’s valuation industry in the international market.

As these initiatives roll out, they are likely to have significant implications for the valuation industry, potentially leading to more robust and reliable valuation practices. The IVAS’s efforts to enhance professional recognition and regional collaboration underscore its commitment to advancing the field of business valuation.
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Tiger Brokers has announced a significant financial milestone in Q2 2025, with revenue soaring 58.7% year-over-year (YoY) to US$138.7m. The company’s non-GAAP net income surged nearly eightfold YoY to $US44.5m, whilst client assets reached a record US$52.1b. Singapore emerged as a key growth driver, with trading volumes and client engagement hitting new highs.

The company’s total trading volume increased by 113% YoY, reflecting robust investor activity. Trading orders and commissions also reached record levels, rising 62.2% and 69.4% YoY, respectively. US stock and IPO trading volumes surged 117.8% and 130.8% YoY, reinforcing Tiger Brokers’ position as a gateway for high-profile investing opportunities.

In Singapore, the Tiger BOSS Debit Card expanded its rewards portfolio to include the US “Magnificent Seven” and popular ETFs, whilst increasing its annual transaction limit to $100,000. Additionally, Tiger Brokers Singapore partnered with the Singapore Exchange (SGX) in April to develop specialised training programmes for wealth management professionals.

Wu Tianhua, founder and CEO of UP Fintech, stated, “In Q2, we delivered strong growth in both revenue and profit. Non-GAAP net profit surged eightfold YoY, hitting a record high.” He highlighted the company’s solid profitability and operating leverage, noting that average net asset inflows from new clients in Q2 exceeded US$20,000.

Looking ahead, Tiger Brokers aims to sustain its growth trajectory by enhancing its investment platform and expanding its client base. The company’s strategic initiatives, including partnerships and product innovations, are expected to further strengthen its market position.
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Growth Exposed, a Singapore-based consultancy, has launched a new initiative aimed at helping small and medium-sized enterprises (SMEs) understand customer motivations. Partnering with visual ideas educator Janis Ozolins, the consultancy promises a money-back guarantee if their insights fail to deliver value. The project involves publishing 16 unedited Jobs-to-Be-Done customer interviews and a step-by-step analysis, available on platforms like YouTube and LinkedIn.

The consultancy’s approach is designed to prevent SMEs from making costly investments that do not align with customer needs. By openly sharing the interviews and analyses as they occur, Growth Exposed aims to provide real-time insights into customer behaviour. The full case study will be published live on their website, offering a transparent view of the process.

This initiative highlights a significant shift towards transparency and customer-focused research in the consultancy sector. As the project unfolds, it could set a precedent for how consultancies engage with SMEs, potentially influencing broader industry practices.
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Xtend has unveiled a new marketplace-first ecommerce solution aimed at boosting brand visibility and conversions across Southeast Asia’s leading marketplaces, including Shopee and Lazada. This innovative platform is designed to address the challenges brands face in the region’s ecommerce landscape by increasing in-platform visibility and connecting with high-intent shoppers.

The Southeast Asia ecommerce market is projected to grow at a compound annual growth rate of 8.79% from 2025 to 2029, reaching a market volume of US$187.16b, according to Statista. Despite the dominance of Meta and Google in digital ad budgets, rising costs and audience saturation are limiting returns. Xtend’s solution is tailored to this environment, aligning with category behaviour, product SKUs, and user intent patterns unique to each platform.

The solution offers several capabilities, including SHOPit Brand Discovery, which drives qualified traffic to brand pages, and commerce-backed inventory that integrates dynamic listings and native placements. It also provides marketplace measurement for end-to-end attribution and actionable commerce signals using first-party data. The performance-based model aligns pricing with results, offering a low-risk option for major campaigns.

Xtend’s solution was showcased at the Shopee Super Summit in Indonesia, where it was presented as a preferred partner. Muralidharan, Chief Commercial Officer at Xtend, stated, “In Southeast Asia’s marketplace-first ecommerce environment, brands need solutions that operate natively where purchase decisions are made.”

By integrating brand storytelling with measurable performance, Xtend’s solution aims to improve conversion rates and long-term brand equity, offering brands a competitive edge in the rapidly growing ecommerce market.
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EtonHouse International Education Group, alongside EBridge PreSchool, has announced a pledge of $3m over the next three years to the EtonHouse Community Fund (ECF), an Institution of a Public Character (IPC) charity. This commitment, revealed on 27 August 2025, aims to bolster the fund’s impact on children and families in need, continuing a legacy of community support that began during the group’s 20th anniversary.

Founded in 1995 by Dr Ng Gim Choo, EtonHouse has grown from a single school in Singapore to a global network of over 100 schools across nine countries. Dr Ng expressed her joy in the success stories of children thriving in their educational environments, stating, “What brings me the greatest joy is not the number of schools we’ve opened but the heartfelt stories from parents about children who wake up excited for school.”

Under the leadership of Group CEO Ng YiXian since 2020, EtonHouse has expanded its offerings to include Middleton International School and The Eton Academy, with plans for further growth in Saudi Arabia and Bangkok. Ng Yi-Xian emphasised the group’s mission to prepare children for the future, blending educational philosophies with technology to nurture global citizens.

The EtonHouse Community Fund, established in 2015, addresses social issues such as poverty and educational access. It aims to raise $7 million over the next three years to support nearly 7,000 children and youth. The group also launched the “30 Years in Motion” challenge, encouraging community participation to raise funds for children in need.

As EtonHouse celebrates its 30th anniversary, it remains committed to innovation and excellence in education, with plans to continue shaping future generations.
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The Singapore Department of Statistics has reported a 6.6% increase in business receipts for the services industries in the second quarter of 2025 compared to the same period last year. This growth excludes the Wholesale Trade, Retail Trade, Accommodation, and Food Services sectors. Most industries within the services sector experienced an uptick in business receipts, with the exception of Transportation and Storage, which faced challenges due to a weaker performance in the Water Transport sector.

The Quarterly Business Receipts Index highlights the resilience and growth of Singapore’s services industries amidst varying economic conditions. The data suggests a robust performance across multiple sectors, reflecting a positive economic trajectory for the nation. However, the Transportation and Storage sector’s decline underscores ongoing challenges, particularly in Water Transport, which may require strategic interventions to bolster performance.

For those interested in further details, the full press release and additional data are available on the Singapore Department of Statistics website. The department also encourages users to explore the enhanced features of the SingStat Mobile App for more comprehensive statistical insights. As Singapore continues to navigate its economic landscape, these statistics provide valuable insights into the country’s service industry dynamics and potential areas for policy focus.
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CBRE’s latest report on Singapore’s luxury residential market for the first half of 2025 reveals a mixed performance across key segments. Whilst Good Class Bungalow (GCB) and Sentosa Cove transactions remained subdued, luxury flat sales experienced a significant rebound, driven by new launches and lower interest rates.

In the GCB market, 14 properties worth $459.63m were transacted, marking a 46.9% decline from the previous half-year but maintaining a similar level year-on-year. Average GCB prices fell by 12.8% to $2,122 per square foot (psf), with more transactions occurring in fringe areas like Caldecott Hill Estate. Despite lower interest rates, geopolitical tensions and trade frictions have led to a cautious buyer sentiment, according to Linda Chern, CBRE’s Head of Residential Services in Singapore.

Meanwhile, the Sentosa Cove market remained relatively quiet, with only two bungalow transactions totalling $26.95mn, a 90.4% increase from H2 2024 but still below historical norms. Condominium activity was stable, with 35 units transacted for $134.83m, maintaining prices at $1,794 psf.

The luxury flat segment led the recovery, with 45 units sold for $584.26m, up 155.8% half-on-half and 53.9% year-on-year. The average price rose by 6.2% to $3,736 psf, bolstered by new launches in the Core Central Region and favourable financing conditions. Tricia Song, CBRE’s Head of Research for Singapore and Southeast Asia, anticipates continued positive momentum into the second half of 2025.

Despite global uncertainties, the resilience of Singapore’s luxury residential market is evident, with expectations for further recovery in the latter half of the year.
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