Industry News

Colliers, in collaboration with List Sotheby’s International Realty, has announced the exclusive marketing of two iconic freehold conservation shophouses located at 136 and 138 Neil Road in Singapore’s Tanjong Pagar district. Designed by the renowned architectural firm Swan & Maclaren, these properties offer a blend of historical significance and modern functionality, making them a coveted asset in the commercial real estate market.

The shophouses, completed in 1926, feature a distinctive ‘stripped Classical’ style with cantilevered bay windows and reinforced concrete balconies, characteristic of the Bukit Pasoh conservation area. Spanning approximately 11,441 square feet, the properties underwent a comprehensive restoration in 2014, which included structural reinforcements and modern safety upgrades, all whilst preserving their historical façade.

Strategically located within walking distance of Outram Park, Maxwell, and Tanjong Pagar MRT stations, the properties offer excellent connectivity and are near vibrant lifestyle and business destinations such as Keong Saik Road and Duxton Hill. This prime location enhances their appeal to both investors and occupiers seeking a legacy-grade asset with potential for long-term capital appreciation and stable rental yields.

Expressions of Interest for this rare investment opportunity are invited by 25 July 2025. The offering underscores the limited availability of freehold commercial properties within conservation zones in Singapore, making it a significant opportunity for discerning investors.
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CBRE has announced the sale of a rare 3-storey freehold commercial building located at 13 Mosque Street in Singapore’s Chinatown Heritage District. The sale will be conducted through an Expression of Interest exercise, closing on 20 August 2025 at 3pm. This property offers a prestigious District 1 address and is strategically positioned in a high-traffic area, making it a prime opportunity for investors.

The building, which spans approximately 3,083 square feet on a 1,315 square foot plot, will be sold with vacant possession, allowing buyers immediate flexibility to occupy or reposition the asset. Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the property’s appeal, stating, “13 Mosque Street presents a unique opportunity to acquire a prime commercial asset within a highly sought-after district.”

The property’s location in Chinatown, a key attraction for both locals and tourists, ensures strong foot traffic, a trend bolstered by the recovery of the tourism sector. The Singapore Tourism Board reported a 21% increase in visitor arrivals in 2024, with further growth expected in 2025.

Potential buyers, including owner-occupiers, boutique real estate funds, and high-net-worth individuals, can explore various value-enhancement strategies. The ground floor could be converted for F&B use, whilst the upper floors might be reconfigured for co-living or hostel accommodations, subject to approval.

The property’s accessibility is enhanced by its proximity to the Chinatown MRT Interchange and major roads, making it an attractive investment in Singapore’s Central Business District.
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Singapore’s job market is under scrutiny as Jobstreet by SEEK unveils its latest salary data for 2025, highlighting the disparity between salary growth and inflation. With headline inflation averaging 2.4% in 2024 and projected to range between 1.5% and 2.5% in 2025, the question remains whether salaries are rising fast enough to match the increasing cost of living.

The report identifies key sectors where salary growth is outpacing inflation. Consulting, strategy, and science and technology sectors have seen salary hikes of 27%, significantly surpassing the projected inflation rate. Information and communication technology, legal, and banking and financial services also report notable increases, with salary growth ranging from 16% to 20%.

However, only 15% of companies have reported salary increments that match or exceed inflation, indicating a broader issue across various industries. Fresh graduates entering the workforce face a stark reality, with starting salaries varying by over $1,000 per month, depending on the industry.

Interestingly, some small and medium enterprises (SMEs) are offering higher median salaries than larger corporations in sectors such as consulting, insurance, and hospitality. This trend challenges the assumption that larger companies always provide better pay.

For jobseekers, the report suggests that a proactive approach, such as negotiating with current employers or exploring new opportunities, can lead to better financial outcomes. With 42% of businesses planning to expand their permanent headcount in the first half of 2025, the job market remains competitive and dynamic.

As Singapore’s job market evolves, staying informed and adaptable is crucial for both employees and employers to navigate the challenges of inflation and salary growth.
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ASEAN has solidified its position as a leading destination for foreign direct investment (FDI), with inflows reaching $225b in 2024, marking the second highest in its history. Singapore emerged as the largest recipient within ASEAN, attracting a record $143b, a 6% increase from the previous year. This is due to its status as a regional financial centre and its appeal in terms of political stability and connectivity.

ASEAN’s total represents a nearly 10% year-on-year increase, as reported in the latest World Investment Report by UNCTAD. The growth in ASEAN’s FDI outpaced the global increase of 3.7%, although it lagged behind the US and EU, which saw rises of 19.6% and 81.5%, respectively.

The surge in FDI is largely attributed to activities in supply chain–intensive manufacturing industries, reflecting multinational enterprises’ efforts to adapt to changing global trade dynamics.

Other ASEAN countries also experienced significant FDI growth. Indonesia saw a 13% increase to $24.2b, whilst Vietnam recorded its third consecutive year of record-high inflows, rising 9% to $20.2b. Malaysia and Thailand reported gains of 33% and 31%, respectively, as businesses pursued supply chain diversification and sustainability initiatives.

Despite global challenges, ASEAN’s strong fundamentals, such as a large youthful population and business-friendly policies, continue to attract investors. The establishment of the Johor-Singapore Special Economic Zone exemplifies cross-border collaboration, further boosting the region’s investment appeal. Looking forward, ASEAN is expected to remain a key driver of investment and trade, with positive prospects outlined in UOB’s report on the region’s outlook to 2030 and beyond.

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Dezign Format, a design-and-build specialist with over 35 years of experience, has lodged a preliminary offer document with the Singapore Exchange Securities Trading Limited (SGX-ST) as part of its proposed initial public offering (IPO). This strategic move is intended to expand the company’s growth opportunities and strengthen its market presence across Asia.

The company, known for delivering immersive experiential marketing and event management solutions, has appointed Evolve Capital Advisory Private Limited (ECA) as the sponsor, issue manager, and placement agent for the IPO. This backing by experienced professionals underscores Dezign Format’s commitment to leveraging its industry expertise for further expansion.

The IPO marks a significant milestone for Dezign Format, which has built a trusted reputation over the decades. The company aims to capitalise on its proven track record to attract investors and enhance its competitive edge in the market. The listing on SGX-ST is expected to provide Dezign Format with the necessary platform to reach a broader audience and secure additional resources for future projects.

As the company moves forward with its IPO plans, it remains focused on delivering innovative solutions to its clients across various sectors. The success of this offering could potentially set the stage for further growth and development within the industry.
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The latest report from PropNex Research reveals a significant slowdown in Singapore’s landed home sales during the first half of 2025, attributed to the introduction of sweeping US tariffs that have caused market volatility and weakened buyer sentiment. Despite softer interest rates and increased private housing demand, the number of landed home transactions fell to 856, totalling approximately $4.9b, down from 1,033 transactions worth $5.5b in the latter half of 2024.

The Good Class Bungalow (GCB) segment experienced a notable decline, with only seven deals valued at nearly $253m recorded, marking the lowest sales volume since at least 2019. PropNex attributes this to a mismatch in price expectations between buyers and sellers, alongside the impact of interest rate hikes since mid-2022.

Conversely, the prestige landed homes segment, defined as properties valued over $10m, saw a resurgence with 67 transactions amounting to about $911m, reflecting a 34% increase from the previous half-year. PropNex anticipates that Singapore’s status as a safe haven will continue to support demand for luxury and prestige landed housing, despite ongoing market uncertainties.

Looking ahead, PropNex remains optimistic about the GCB market, expecting prices to stabilise and sales to potentially rebound by mid-2026, driven by the limited supply of such exclusive properties in land-scarce Singapore.

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Moove Media has unveiled the 3D SG60 Bus fleet to mark Singapore’s 60th year of independence. These limited-edition buses, adorned with intricate 3D sculptures of the nation’s iconic landmarks, will traverse the island, showcasing Singapore’s rich heritage and vibrant future. The campaign, involving brands like Burger King, Jewel Changi Airport, and StarHub, aims to engage the public with national pride through these mobile tributes.

The 3D SG60 Buses feature miniature replicas of architectural icons such as Marina Bay Sands and Gardens by the Bay. Each bus is also equipped with a 3D ‘SG60’ lightbox in vibrant colours, symbolising unity in diversity. Jeffrey Kwek, CEO of Moove Media, stated, “The 3D SG60 Bus is more than just a bus; it’s a statement of unity and progress.”

The campaign has attracted a diverse range of partners, including Axe Brand Universal Oil and Mandai Wildlife Group. Leong Sin Kuen of Axe Brand Universal Oil remarked on the campaign’s blend of tradition and innovation, whilst Sandy Lee from Mandai Wildlife Group highlighted its role in celebrating Singapore’s 60th birthday.

Currently, 21 bus services are part of the 3D SG60 fleet, with brands like PropNex and The Learning Lab already displaying their messages. This initiative not only celebrates a national milestone but also offers a unique advertising platform, reflecting Moove Media’s commitment to innovative out-of-home advertising.
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APAC Realty has seen a significant rebound in its share price, climbing 22% since the start of the year, as it capitalises on Singapore’s thriving residential sales market. The company has maintained a “BUY” recommendation, with a revised target price of S$0.54, up from S$0.48, indicating a potential 15% upside. This optimism is fuelled by anticipated continued sales momentum, bolstered by upcoming property launches and strong buyer sentiment.

The company’s management has been actively engaging in share buybacks, a move that is expected to enhance the company’s bottom line. APAC Realty is also offering an attractive yield of approximately 7%, trading at a modest 12 times its forecasted price-to-earnings ratio for the financial year 2025.

Analyst Vijay Natarajan noted the company’s strategic position, stating, “The rally still has legs with sales momentum likely to continue on the back of attractive upcoming launches and firm buying sentiment.”

This development is significant as it reflects the broader positive trends in Singapore’s real estate market, which has been buoyed by strong demand and favourable economic conditions. The company’s proactive measures, such as share buybacks, further underscore its commitment to enhancing shareholder value.

Looking ahead, APAC Realty’s performance will likely continue to be influenced by the overall health of the Singaporean property market and its ability to leverage upcoming opportunities.
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The global luxury industry is encountering significant disruptions, marking its most challenging period in over 15 years, according to a new study by Bain & Company and Altagamma. Economic uncertainties, geopolitical tensions, and cultural shifts are impacting consumer confidence and demand, with the luxury sector experiencing a slowdown after a robust post-pandemic recovery.

Mainland China is witnessing a slowdown due to economic uncertainty, though local luxury brands are gaining traction. Meanwhile, Southeast Asia remains a bright spot, with Singapore and Indonesia leading growth. Experiential luxury, such as hospitality and fine dining, is outperforming tangible goods, particularly amongst Gen Z and Millennial consumers.

The report highlights that over half of new luxury buyers in the next five years will be from Gen Z and Alpha, who prioritise creativity and authenticity. Despite the current volatility, Asia’s long-term outlook remains strong, driven by rising incomes and an expanding affluent consumer base.

Claudia D’Arpizio, Bain & Company’s senior partner, noted, “Although demand is easing in the short term, the luxury sector has consistently demonstrated extraordinary resilience.” Federica Levato, another senior partner, added that the industry is entering a pivotal chapter requiring sharper focus and cultural relevance.

The personal luxury goods segment is expected to see a continued decline, with potential market contraction between 2% and 5% this year. However, experiential luxury continues to thrive, with luxury hospitality and cruises showing strong performance.

As the luxury market navigates these challenges, the report underscores the importance of brands refocusing on fundamentals and maintaining strong brand identities to sustain consumer engagement.
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Ariston, the leading Italian water heating brand in Singapore, has launched its latest electric storage water heater models, the SLIM3 TOP WI-FI and SLIM3 RS. These new additions are designed to bring energy efficiency and style to modern Singaporean homes, combining advanced technology with elegant Italian craftsmanship.

The SLIM3 TOP WI-FI model stands out with its smart connectivity, allowing users to monitor energy consumption and manage settings via the Ariston NET app. This feature can help households save up to 25% on energy usage. The app also provides real-time notifications for system failures and integrates with Amazon Alexa and Google Assistant for seamless voice control. Additionally, the unit includes an auto power-off function to prevent energy waste and an auto diagnosis feature for continuous safety checks.

Designed by Italian designer Umberto Palermo, the SLIM3 TOP WI-FI boasts a sleek black finish and a digital control panel, making it a stylish addition to any bathroom. It also features a patented titanium heating element with a lifetime warranty, ensuring durability.

For those preferring a classic look, the SLIM3 RS offers a minimalist design with a copper heating element and a mechanical thermostat for manual temperature adjustments. Both models incorporate AG+ technology to inhibit bacteria growth and Titanshield technology for enhanced tank protection.

Available in 20-litre and 30-litre capacities, the SLIM3 range is now on sale at authorised dealers, with prices starting at $369 (£369) for the SLIM3 RS and $479 (£479) for the SLIM3 TOP WI-FI.
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