Industry News

Retail sales in Singapore experienced a 2.8% increase in September 2025 compared to the same month last year, according to the latest data from the Singapore Department of Statistics. When excluding motor vehicles, the rise in retail sales was slightly lower at 2.0%. In contrast, the food and beverage services sector saw a decline of 1.6% over the same period.

The increase in retail sales suggests a positive trend for the sector, reflecting consumer confidence and spending. However, the decline in food and beverage services indicates challenges that the sector continues to face, possibly due to changing consumer habits or economic factors.

The data provides a snapshot of the economic landscape in Singapore, highlighting areas of growth and concern. The retail sector’s growth is a positive sign for businesses, suggesting a recovery or stabilisation in consumer spending patterns. Meanwhile, the food and beverage sector may need to adapt strategies to address the decline in sales.

Amazon Singapore is set to transform the Suntec City Atrium into a vibrant, interactive gift discovery space for one weekend only, from 22 to 23 November. The Amazon Holiday Giftorium, inspired by Amazon.sg, promises to bring the joy of gifting to life just in time for Black Friday. Visitors can explore themed rooms, take a personality quiz to discover their gifting style, and enjoy a playful slide into a colourful ball pit.

The initiative follows a YouGov survey commissioned by Amazon Singapore, revealing that 36% of Singaporeans spend the most time selecting gifts for their partners, with friends and children following at 22% and 19%, respectively. The Giftorium aims to simplify this process by offering a curated selection of gifts across categories like Toys, Electronics, and Home essentials.

Participants will begin their journey with a quiz to identify their gift-giving persona, such as a “Mood Gifter” or “Convenience Champion.” Armed with the Amazon app, they will navigate through themed rooms filled with potential gifts, offering social-media-friendly moments and the chance to test new gadgets and beauty products. Upon completing the experience, visitors can claim a limited-edition Amazon.sg plushie charm and a curated goodie bag.

The event coincides with Amazon Singapore’s 12-day Black Friday Sale, running from 20 November to 1 December, featuring deals from brands like Dyson, LEGO, and Sennheiser. This initiative not only enhances the shopping experience but also provides a unique way to engage with Amazon’s offerings during the holiday season.

Raffles City Singapore is set to captivate visitors with its ‘Dreams of Wonder’ festive campaign, running from 6 November to 31 December 2025. This initiative transforms the mall into a multi-sensory wonderland, featuring immersive installations and exclusive collaborations designed to inspire and ignite the imagination. A highlight of the event is the collaboration with Parfums Christian Dior, which brings the ‘Circus of Dreams’ to life with three captivating installations.

The ‘Circus of Dreams’ pays homage to Monsieur Dior’s love for the circus, offering shoppers a unique journey through installations at Level 1, including a Christmas centrepiece at Art Square, a beauty pop-up at Stamford Square, and a showcase at Fashion Walkway. These installations aim to blend luxury and playfulness, creating an enchanting atmosphere.

Beyond the Dior experience, ‘Dreams of Wonder’ extends across Raffles City’s fashion, lifestyle, and dining outlets. Visitors can enjoy festive experiences, limited-edition collections, and gourmet treats, all designed to rediscover the joy of Christmas. The campaign promises to redefine festive celebrations with modern artistry and high design, moving away from traditional holiday motifs.

Raffles City’s festive offerings provide a unique opportunity for shoppers to explore curated experiences and luxury products, ensuring a memorable holiday season. As the style and cultural epicentre of Singapore, Raffles City invites everyone to embrace the festive spirit through style, savour, and sound.

L’Amo Bistrò del Mare, an acclaimed Italian coastal restaurant from Dubai, has launched its first international branch at METT Singapore, located in Fort Canning Park. Known for its prestigious accolades, including the Due Forchette by Gambero Rosso, the restaurant brings the essence of the Mediterranean to Singapore, blending traditional Italian cuisine with modern sophistication.

The menu, crafted by Chef Daniele Sperindio, Director of Culinary and F&B at METT Singapore, celebrates the flavours of the Italian coast. Highlights include Le Tre Tartare, featuring sea bass, tuna belly, and Sicilian red prawns, and the signature Spaghettone Cacio & Pepe, enhanced with Japanese uni. The restaurant also offers a selection of seafood dishes, such as the Neapolitan Impepata di Cozze and Catalana dell’Amo, alongside charcoal-grilled lamb chops.

Desserts include Italian classics like Profiteroles and Cannoli Siciliani, whilst a curated cocktail menu complements the dining experience. The restaurant’s interior, inspired by a Mediterranean harbour, offers a relaxed yet sophisticated atmosphere, with live music enhancing the evening ambience.

L’Amo Bistrò del Mare is part of METT Singapore’s dining collection, embodying a spirit of relaxed luxury. Reservations are now open for those wishing to experience this new culinary destination.

Changi Airport and Jewel Changi Airport have launched a Disney-themed extravaganza to celebrate the year-end festive season, inviting visitors to explore Disney’s beloved stories and characters. Starting today, the festivities will span across multiple terminals and Jewel, featuring a new Light & Music Showcase at Jewel’s Rain Vortex inspired by Disney Cruise Line. The 3.5-minute show, titled ‘The Magic of Adventure’, will highlight seven themed areas from the Disney Adventure.

Visitors can enjoy magical displays at Terminal 3, including a 6.5-metre ship installation featuring Captain Mickey Mouse and Captain Minnie Mouse. Photo opportunities abound with themed pop-ups inspired by Disney, Pixar, and Marvel stories. The celebrations also include meet-and-greet sessions with Disney Cruise Line characters and daily snow shows transforming Terminal 3 into a winter wonderland.

Additional attractions include topiaries of characters like Baymax and Duffy the Disney Bear across the terminals. At Terminal 3 Basement 2, visitors can dive into a Disney Discovery Reef-inspired underwater world and participate in DIY activities to decorate Disney-themed items. A Disney-themed carnival at Terminal 3 offers games and claw machines, with tokens available for purchase.

Jewel features a 16-metre Disney Cruise Line-themed Christmas tree and topiary sculptures of Captain Mickey and Captain Minnie. Canopy Park hosts three Disney Adventure-themed zones, including Toy Story and Disney princess installations. Exclusive Disney Cruise Line collectibles are available for purchase with qualifying spends at Changi Airport and Jewel until 4 January 2026.

CapitaLand Investment Limited (CLI) has successfully closed its CapitaLand Ascott Residence Asia Fund II (CLARA II), raising over US$650m in equity commitments, surpassing its initial target of US$600m. This achievement highlights strong investor confidence in the living and lodging sector, particularly in Asia Pacific, and CLI’s expertise in this field.

CLARA II will contribute approximately US$1.6 billion to CLI’s total funds under management. The fund has attracted a diverse range of global investors, including institutional investors, pension funds, and financial institutions from Asia, Europe, and North America. CLI has committed a 20% sponsor stake to ensure alignment with its investors.

The fund focuses on transforming underutilised assets into high-performing properties in gateway cities across Asia Pacific. It has already deployed around half of its committed equity into three assets, including properties in Japan and Singapore. Andrew Lim, Group Chief Operating Officer for CLI, noted the growing investor interest in the sector, driven by trends such as increased mobility and demand for flexible living arrangements.

Mak Hoe Kit, Managing Director of Lodging Private Equity Funds at CLI, emphasised the trust investors place in CLI’s capabilities and strategy. He highlighted the company’s track record of successful value-add and exits, which has generated significant returns for capital partners.

As CLI continues to leverage its investment and asset management expertise, it aims to identify and execute opportunities that deliver long-term returns for stakeholders.

HDB resale prices in Singapore experienced a slight decline of 0.6% in October 2025, according to the latest report by 99.co and SRX. The decrease was observed across both Mature Estates and Non-Mature Estates, with prices falling by 0.5% and 0.9%, respectively. However, on a year-on-year basis, prices have risen by 3.8%, indicating a resilient market despite fewer transactions.

The report highlighted that 1,347 HDB resale flats were transacted in October, marking a significant 38.4% drop from September 2025. Year-on-year, the transaction volume was down by 37.6%. The distribution of sales by room type showed that 26.6% were 3-room flats, 45.2% were 4-room, 23.5% were 5-room, and 4.6% were Executive flats. Non-Mature Estates accounted for 55.9% of the transactions.

The highest price recorded for a resale flat in October was $1,134,000 (S$1,550,000) for a 5-room flat at Boon Keng Road. In Non-Mature Estates, the top price was $928,000 (S$1.27m) for an Executive flat in Woodlands Street 82. Additionally, 87 flats were sold for at least $732,000 (S$1m), a decrease from the 172 such transactions in September. These million-dollar flats made up 6.5% of the total resale volume, with Toa Payoh leading the count at 20 units.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted the resilience in prices despite the drop in transaction volumes. The data suggests that whilst fewer transactions occurred, the demand for higher-priced flats remains strong, particularly in specific estates.

The Urban Redevelopment Authority (URA) has announced the results of the government land sales (GLS) tender for the Telok Blangah Road site, with Kingsford Development securing the top bid of $918m. This translates to a land rate of $1,326 per square foot per plot ratio (psf ppr), surpassing the second-highest bid by 4.4%. The site is expected to deliver approximately 745 new private homes, contributing to the Greater Southern Waterfront’s development.

The tender attracted three bids, a moderate response attributed to the significant financial commitment required for the large-scale development. Wong Siew Ying, Head of Research and Content at PropNex, noted that developers might be focusing on other upcoming GLS plots. Historically, sites with land prices exceeding $800m have seen limited bids, typically ranging from one to four.

The Telok Blangah Road site boasts strong locational advantages, being close to the Telok Blangah MRT station, the city centre, and commercial amenities like VivoCity mall. Developers are keen to gain a first-mover advantage in this new housing precinct, potentially setting the tone for pricing and capturing early demand.

The future project is anticipated to attract interest from a diverse range of buyers, including HDB upgraders from nearby estates and investors due to its proximity to the central business district and employment hubs. The average selling price is estimated to be above $2,800 psf.

Looking forward, land bidding activity is expected to remain robust, driven by improved buyer sentiment and upcoming GLS site tenders. Developers are likely to replenish their land inventory following strong primary market sales this year, with 10,227 new private homes sold by October 2025.

Pride Health, Asia’s pioneering LGBTQ+ digital healthcare platform, has successfully raised US$300,000 in a pre-seed funding round. The investment, supported by A2D Ventures, Enterprise Singapore, First Move, and depa’s Digital Startup Fund (S2), will enable the Thailand-based company to expand its inclusive healthcare services across Asia, focusing on stigma-free and personalised care for LGBTQ+ individuals.

The platform addresses significant healthcare inequities faced by over 70% of LGBTQ+ individuals in Asia, who encounter barriers due to stigma and a lack of trained providers. Pride Health integrates telehealth consultations, digital prescriptions, and AI-driven personalisation to offer preventive, mental, sexual, and gender-affirming healthcare. Since its launch in March 2025, the platform has onboarded over 1,800 users, achieving a 54% repeat rate, which highlights the trust and demand within the community.

Pride Health plans to expand its services beyond Thailand into Singapore, Malaysia, Hong Kong, Vietnam, and the Philippines through strategic clinical and community partnerships. The funding will also support the development of new clinical verticals, including gender-affirming care and preventive medicine, alongside AI and automation infrastructure enhancements.

Bruce Li, Co-Founder and CEO of Pride Health, emphasised the importance of accessible healthcare, stating, “Everyone deserves the right to their unique healthcare needs. Across Asia, too many LGBTQ+ people are still being denied that right.” The company’s mission is to ensure that everyone can access judgement-free and innovative healthcare.

With this strategic backing, Pride Health is poised to revolutionise the healthcare landscape for LGBTQ+ communities across Asia, setting a precedent for inclusive and personalised care.

Lioner International Group Ltd. has announced the expansion of its Singapore operations, relocating to One Raffles Place in the city’s financial district. This strategic move comes as the company experiences a threefold increase in business revenue in the first half of 2025, attributed to its integrated 3-in-1 wealth planning platform. The platform has gained significant traction among high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients across Singapore and Southeast Asia.

The relocation to One Raffles Place supports Lioner’s rapid business growth and increasing headcount, reinforcing its commitment to the Singapore market. Tony Chan, a partner at Lioner, stated, “Our growth in Singapore reflects the trust clients place in our integrated model. As families face increasing complexity in legacy and wealth planning, they are seeing the true value of Lioner with total solutions all under one roof which aligned with their long-term goals.”

Singapore’s favourable regulatory environment and expanding investor base continue to position it as a leading global wealth management centre. Lioner’s new office aims to meet the rising demand for adviser-led, integrated solutions in estate and succession planning.

Looking ahead, Lioner is preparing for further strategic growth in 2026, with plans to scale its offerings and invest in top-tier talent and technology. As part of its 5th anniversary, the company will celebrate under the theme “Marching Toward 5 Years. Embracing Global Accord,” highlighting its dedication to delivering future-ready solutions for wealth preservation and succession.