Industry News

Country City Investment Pte Ltd has secured the tender from the Singapore Land Authority to redevelop the historic 2 Moulmein Road estate into a dynamic lifestyle and community destination. The 91,000 sqm site, which houses over 40 heritage buildings, has been a significant part of Singapore’s healthcare history since its establishment in 1913 as Middleton Hospital and later as the Communicable Diseases Centre.

The redevelopment aims to honour the site’s legacy whilst rejuvenating it in line with Singapore’s efforts to celebrate its built heritage. Dylan Soh, Business Development Manager of Country City Investment, expressed gratitude for the opportunity to transform the estate into a place for dining, wellness, learning, and play. The project is set to open in the first quarter of 2027.

Country City Investment, known for its successful transformation of Dempsey Hill, plans to incorporate distinct thematic zones, restaurants, sports facilities, and enrichment spaces into the Moulmein Road site. The development will maintain the estate’s rustic charm whilst enhancing accessibility and visitor experience.

The company is committed to sustainability and community engagement, working closely with the Singapore Land Authority, heritage specialists, and community partners to ensure the transformation respects the site’s historical significance. The revitalised estate is expected to enrich Singapore’s hospitality and tourism landscape, offering a vibrant environment with diverse creative offerings throughout the year. Further details on the redevelopment will be shared as the project progresses.

Singapore’s hiring outlook has reached its lowest point in nearly four years, with the Net Employment Outlook (NEO) for Q1 2026 standing at 15%, according to the latest ManpowerGroup Employment Outlook Survey. This represents a decline of five points from the previous quarter and 11 points year-on-year. The survey, which included responses from 504 employers, highlights how economic caution is reshaping workforce strategies across the nation.

Nearly half of the surveyed employers, 46%, plan to maintain their current staffing levels, whilst 32% intend to increase headcount. Conversely, 18% anticipate reducing their workforce. The Finance and Insurance sector reports the strongest outlook, with a NEO of 33%, marking a 23-point increase from the previous quarter, although it is down by six points compared to the previous year.

Economic uncertainty continues to play a significant role in hiring decisions. Among organisations maintaining headcount, 23% are adopting a wait-and-see approach regarding economic developments before making hiring decisions. Meanwhile, 30% of those planning staff reductions cite economic challenges as the primary reason.

The survey underscores the impact of economic conditions on employment strategies, with the NEO data seasonally adjusted to account for typical annual hiring fluctuations. As Singapore navigates these uncertain times, the employment landscape remains cautious, with businesses closely monitoring economic trends before committing to significant staffing changes.

Healthtech startup Respiree has secured approval from Singapore’s Health Sciences Authority (HSA) for its AI-enabled 1BioAI software, designed to assist healthcare professionals in detecting acute inpatient deterioration. The 1BioAI Acute toolbox, classified as a Class B software-as-a-medical device, utilises machine learning models to enhance precision in identifying patient deterioration, thereby reducing false alerts and improving clinical support.

The 1BioAI Acute system operates by analysing bedside-recorded vital signs—pulse rate, respiratory rate, oxygen saturation, and systolic blood pressure—to generate a probability score. This score helps clinicians assess whether additional monitoring is necessary, indicating the patient’s general physiological state. “Advanced AI-driven machine learning models have the potential to deliver significantly greater precision, reducing unnecessary alerts,” said Dr Gurpreet Singh, CEO and Founder of Respiree.

The approval marks a significant milestone for Respiree, whose 1Bio platform and RS001 wearable device have also received regulatory clearance. With this achievement, Respiree plans to expand regulatory approvals for the 1BioAI Acute toolbox across other Asia-Pacific (APAC) and Australia-New Zealand (ANZ) regions, as well as in the United States in the coming months.

The HSA’s approval follows a validation study published in the Mayo Clinic Proceedings, further establishing the credibility of Respiree’s technology. As the company looks to broaden its reach, the potential for improved patient care through AI-driven precision continues to grow.

OCBC’s Mezzanine Capital unit has made a significant equity investment in Green Esteel Pte Ltd, supporting the development of Southeast Asia’s largest integrated low-carbon steel plant. This investment marks the first commercial funding for Esteel by a financial institution in Asia. The plant, set to be commissioned by 2030, will be located in Sabah and is expected to produce 2.5 million tonnes of Hot Briquetted Iron (HBI) annually, a key component in low-carbon steel production.

The $1.5b project aligns with OCBC’s Sustainability Investment Programme, which aims to invest in green and transition assets. The initiative is part of OCBC’s broader strategy to decarbonise the steel sector, a major contributor to global greenhouse gas emissions. Traditional steel production accounts for about 7% of these emissions, making it the highest emitting manufacturing sector, according to the World Economic Forum.

The demand for low-carbon steel is anticipated to rise as the global economy shifts towards sustainable practices. The “Green Steel Industry Report 2025” projects the low-carbon steel market to grow at a compound annual growth rate of 21.4%, reaching $19.4b by 2029.

Gan Kok Kim, Head of Global Investment Banking at OCBC, stated, “With demand for low-carbon steel expected to rise sharply around the world, we are confident that our equity investment in Esteel offers strong potential for long-term growth returns.”

Green Esteel’s CEO, Gong Hong, expressed gratitude for OCBC’s support, highlighting the partnership’s role in advancing sustainable industrial transformation. This investment underscores OCBC’s commitment to fostering a greener, low-carbon economy.

Traveloka, Southeast Asia’s leading travel platform, and the Singapore Tourism Board (STB) have unveiled a new regional marketing campaign titled ‘A World of Experiences Await’. This initiative aims to attract young travellers from key Southeast Asian markets to consider Singapore as their preferred short-haul destination for spontaneous and convenient weekend getaways.

The campaign seeks to position Singapore as an ideal location for travellers and repeat visitors looking for quick escapes. With its compact city layout, Singapore offers a diverse range of activities that can be enjoyed in a single day, from exploring cultural landmarks to experiencing world-class attractions. This makes it an attractive option for those wanting to make the most of their time with loved ones.

The partnership between Traveloka and STB highlights their commitment to promoting Singapore as a vibrant and accessible destination. By targeting young travellers, the campaign hopes to boost tourism and encourage more frequent visits to the city-state. As the campaign unfolds, it is expected to enhance Singapore’s appeal as a dynamic and exciting travel destination in the region.

Developers are showing strong interest in Singapore’s Government Land Sales (GLS) sites, with more than six bidders vying for each private residential site since July 2025, according to Huttons Asia. The latest tender saw 10 bidders, the highest number since 2021, highlighting the competitive landscape as developers seek to expand their portfolios.

The Dunearn Road site, located near Sixth Avenue MRT station in the prestigious Bukit Timah area, is expected to attract four to seven bidders, with top bids ranging from $1,350 to $1,450 per square foot per plot ratio (psf ppr). This site is part of the new Turf City housing estate, which could see around 1,225 new dwelling units in the next two years if all sites are launched and sold.

The Kallang Avenue site, the first GLS site for private residential living near Kallang MRT station, offers a rare opportunity for waterfront living. It is anticipated to draw similar interest, with bids also expected between $1,350 and $1,450 psf ppr. Its prime location next to Kallang River and proximity to the Central Business District make it highly desirable.

In the Lentor precinct, the Lentor Central site is the eighth in the area and is popular for its attractive entry price. With less than 50 units remaining unsold from previous launches, the site is expected to see two to four bidders, with bids ranging from $900 to $1,000 psf ppr. A new 500-unit project is slated for launch in 2026, further boosting interest in the area.

Mark Yip, CEO of Huttons Asia, noted the heightened competition and the winner-takes-all nature of the tender process as key factors driving up tender prices. As developers continue to seek attractive sites, the bidding is likely to remain intense.

SynaXG Technologies, a Singaporean deep-tech startup, has successfully raised over US$20m in its first funding round, led by January Capital, Vertex Ventures, and Qualgro. This significant early-stage investment in AI-RAN (Artificial Intelligence Radio Access Networks) is set to bolster SynaXG’s global expansion efforts. The funds will be channelled into strengthening the company’s engineering capabilities and expanding its partner network, positioning Singapore as a leader in the AI-RAN sector.

The AI-RAN industry is gaining momentum globally, underscored by NVIDIA’s recent US$1b investment in Nokia for AI-RAN development. Riding this wave, SynaXG plans to accelerate its product roadmap and deepen collaborations with telecom operators and enterprise partners worldwide. “We are committed to establishing our leadership in the AI-RAN space,” the company stated.

Looking ahead, SynaXG is preparing for its Series A fundraising round, which will focus on expanding commercial rollouts and advancing AI-native RAN adoption across global markets. This strategic move aims to further cement SynaXG’s position in the rapidly evolving AI-RAN landscape.

Singaporean organisations are rapidly adopting artificial intelligence (AI), yet many remain uncertain about managing the associated risks, according to a recent poll by Okta, a leading independent identity partner. Conducted in November 2025 at Okta’s Oktane on the Road event in Singapore, the poll surveyed technology and security leaders, highlighting a significant gap between AI deployment and the maturity of governance and identity controls.

The findings reveal that whilst AI awareness and usage are on the rise, accountability and monitoring are lagging. Notably, 53% of respondents believe AI security risk falls under the Chief Information Security Officer (CISO) or security function, but 25% reported no clear ownership of AI risk within their organisations. Additionally, only 31% of leaders are confident in detecting AI agents operating outside their intended scope, with 33% not monitoring AI activity at all.

Data leakage through integrations emerged as the top security concern, identified by 36% of respondents, followed by Shadow AI—unapproved or unmonitored tools—at 33%. Furthermore, just 8% of organisations have identity systems fully equipped to secure non-human identities like AI agents, with 58% describing their capabilities as only partially equipped.

Stephanie Barnett, Vice President, Asia Pacific & Japan at Okta, commented, “Organisations in Singapore are adopting AI at speed, which signals growing maturity in how the technology is being used. The next step is ensuring governance and security evolve at the same pace.”

The poll underscores the need for clearer accountability, stronger governance frameworks, and modern identity systems to secure both human and non-human identities as AI becomes integral to enterprise operations.

COURTS Singapore has launched the nation’s first in-store Sleep Clinic at its revamped Toa Payoh store, aiming to provide customers with tailored sleep solutions. This innovative concept includes Wellness and Experience Hubs, designed to enhance sleep quality through personalised guidance and product recommendations.

The Wellness Hub focuses on creating an ideal sleep environment, offering products such as calming aromas, sound therapy speakers, and luxurious massage chairs. Meanwhile, the Experience Hub guides customers through a personalised sleep product discovery journey. This includes a customised sleep questionnaire and a hands-on area to test various mattress types, helping customers find the perfect fit for their sleep preferences and needs.

In addition to the Sleep Clinic, COURTS has introduced the Mattress Satisfaction Guarantee (MSG) Programme, offering a 60-night free trial for selected mattresses. This initiative, the first of its kind in Singapore, allows customers to experience COURTS’ mattresses at home, risk-free.

Harry Higashiura, Country CEO of COURTS Singapore, stated, “With Sleep Clinic and the Mattress Satisfaction Guarantee Programme, we’re redefining what it means to shop for sleep. This is more than a retail experience – it’s a personalised journey towards better rest.”

Currently exclusive to COURTS Toa Payoh, the Sleep Clinic concept is set to expand to more locations across Singapore. The MSG Programme is available for selected Dunlopillo mattresses at all participating COURTS stores, including Megastore, The Heeren, Jem, NEX, Causeway Point, and Jurong Point.

Singapore has emerged as the most premium flexible office market in the Asia Pacific region, with prime desk rates averaging US$800 per month, according to research by Workthere, part of Savills Impacts programme. This positions Singapore ahead of other major cities like Tokyo and Sydney, driven by strong demand and limited supply in prime areas.

Globally, London leads with the highest average prime flex office desk rates at US$1,320 per month, followed by New York and Los Angeles. The Asia Pacific region, however, boasts the highest global attendance in flex offices, with an average of 4.13 days per week, highlighting the region’s emphasis on in-person collaboration.

The demand for flexible office spaces is accelerating, particularly from multinational corporations seeking agility in an uncertain business climate. In Asia Pacific, these corporates account for 41% of the demand, the highest globally, as they expand into emerging talent hubs like Bengaluru and Ho Chi Minh City.

Piers Mallitte, Head of Workthere Asia Pacific at Savills, noted, “Multinational’s use of flex offices across Asia Pacific has risen sharply, driven by the need to access cost-efficient talent pools and enter new markets quickly and efficiently.”

The evolving work patterns and employee expectations are reshaping corporate demands for flex office spaces. Features such as meeting rooms, phone booths, and collaboration spaces are highly valued, particularly in Europe, Asia Pacific, and the UK, supporting hybrid work models.

Looking forward, the emphasis on sustainability is growing, with Singapore and Australia leading retrofit activities in the region. This trend is expected to continue as companies seek to attract talent and meet net-zero commitments.