Industry News

Luxury home sales in Singapore’s Core Central Region (CCR) have soared by over 20% in the third quarter of 2025, according to the latest report by OrangeTee, part of the Realion Group. The increase is attributed to a strong demand from affluent Singaporeans, who accounted for 76% of the purchases, reflecting their growing affluence and interest in high-end real estate as investment assets.

The report highlights that 171 luxury homes, each priced at a minimum of S$5m, were transacted in Q3 2025. This marks a significant rise from the 143 and 141 units sold in the first and second quarters, respectively. Both new and resale luxury homes contributed to this growth, with new launches such as UpperHouse at Orchard Boulevard and The Robertson Opus boosting sales.

The priciest transaction recorded was a unit at The Marq on Paterson Hill, sold for S$6,274 per square foot in September 2025, making it the third-highest priced unit on record. Additionally, the demand for ultra-luxury flats, priced at S$10m or more, saw a slight uptick, with 15 units sold in the quarter.

The report also notes a dip in Good Class Bungalow (GCB) transactions, with seven recorded in Q3 2025, down from nine in the previous quarter. However, the average land rate for GCBs rebounded to S$2,215 per square foot.

Looking ahead, OrangeTee anticipates continued demand for luxury homes, driven by new project launches and potential interest rate cuts, which could further stimulate the market. The prevailing Additional Buyer’s Stamp Duty rates are expected to maintain local demand as the primary driver of the luxury market.

Taobao Singapore has unveiled its new affiliate programme, Taobao Affiliates, coinciding with the 11.11 Global Shopping Festival. This initiative enables registered users to earn up to 30% commission by sharing product referrals. The programme, available on both Chinese and English-language interfaces, is open to all Singapore users with a valid social media account.

Jean Zhao, Country Head of Taobao Singapore, expressed enthusiasm about the launch, stating, “Our 11.11 festival has always been about connecting with our consumers to deliver and share lifestyle experiences that transcend the online space.” She highlighted Singapore as a key market and expressed excitement for future developments.

In addition to the affiliate programme, Taobao Singapore has expanded its product categories, reflecting local demand and customer insights. The platform now offers over 100 million products, with special focus on five top-selling categories: fashion, home and furniture, emerging hobbies and niche interests, electronics and appliances, and quirky knick-knacks.

To enhance the shopping experience, Taobao Singapore is offering a range of promotions until 14 November. These include sitewide discounts of up to 15%, free shipping vouchers, and cashback offers. The 88VIP membership, previously exclusive to China, is now available to Singapore users, providing additional benefits.

The Chelsea Clinic, a prominent name in aesthetic medicine and part of SBC Medical Group Holdings, has relocated to a new flagship facility at Ngee Ann City, Singapore. This expansion, announced on 4 November 2025, aims to enhance patient experience and reinforce Singapore’s position as a hub for aesthetic medicine. The opening ceremony was attended by Toru Hotta, Deputy Chief of Mission at the Embassy of Japan in Singapore, who participated in the ribbon-cutting event.

Founded in 1999 by Ewen Chee, The Chelsea Clinic has been a pioneer in aesthetic medicine, offering medically supervised procedures for skin health and rejuvenation. The new facility consolidates the clinic, spa, and corporate headquarters under one roof, featuring 16 rooms, including 12 clinic rooms and four spa rooms. This expansion is designed to improve privacy, comfort, and efficiency for patients.

The clinic’s relocation not only increases space but also enhances operational integration and patient services. With dedicated consultation rooms and expanded waiting lounges, the facility promises a more personalised environment. The clinic has also strengthened its Japanese-language support, offering multiple reservation channels and a Japanese-speaking staff member to assist patients.

Ewen Chee, Founder and Medical Director of The Chelsea Clinic, stated, “Our relocation to Ngee Ann City reflects our commitment to providing a more elevated and seamless patient journey.” This move is part of SBC Medical’s broader strategy to expand its presence in Asia and deliver high-quality medical services.

Singapore Gulf Bank (SGB) has announced its collaboration with Fireblocks to bolster its digital asset infrastructure. This partnership will enable SGB, a digital wholesale bank regulated by the Central Bank of Bahrain, to enhance its treasury management and digital asset custody. By integrating Fireblocks’ secure platform, SGB aims to streamline operations and optimise liquidity across various accounts and venues.

Founded by Whampoa Group and backed by Bahrain’s Mumtalakat, SGB bridges traditional financial services with the digital asset economy. The bank sought a reliable infrastructure provider to meet stringent regulatory standards whilst expanding its digital asset capabilities. Fireblocks’ platform, known for its Multi-Party Computation (MPC) cryptography, offers multi-layered security against attacks and human error, allowing SGB to scale its operations securely.

Shawn Chan, CEO of SGB, stated, “We exist to make regulated banking work for the digital asset economy. By using Fireblocks, we’re able to automate processes, reduce operational risk, and most importantly offer clients faster, safer access to digital asset services.”

The integration also grants SGB access to the Fireblocks Network, a leading digital asset network trusted by over 2,400 fintechs and financial institutions. This network facilitates secure stablecoin payments and efficient crypto trading, enhancing SGB’s connectivity and service offerings.

This development follows the launch of SGB Net in May 2025, a multi-currency clearing network designed for digital asset firms. Together, Fireblocks and SGB are creating a more integrated financial network, enabling institutions to access digital assets with improved security and efficiency.

The Singapore National Employers Federation (SNEF) marked its 45th anniversary with the SNEF45 Employers’ Summit, unveiling two initiatives to aid employers in navigating workplace transformation. The summit, themed “Forging the Future of Work Together,” highlighted SNEF’s ongoing commitment to progressive employment practices. The event, attended by over 300 guests, including Deputy Prime Minister Gan Kim Yong, introduced the SNEF Advisory, Resource, and Consultancy Centre (ARCC) and the SNEF Research Advisory Panel (RAP).

SNEF has been instrumental in shaping Singapore’s labour landscape over the past 45 years, advocating for balanced solutions that benefit both employers and employees. SNEF President Tan Hee Teck emphasised the importance of continued engagement with members to navigate new realities in a fast-evolving world.

The ARCC aims to be a comprehensive resource hub, offering advisory, consultancy, and resource services to support workforce transformation. It will utilise GenAI-powered tools, such as an AI Chatbot, to streamline services and empower employers with self-help resources.

The RAP, comprising five distinguished academics, will guide SNEF’s research agenda, providing data-driven insights to champion employers’ interests. This panel will focus on identifying future workforce trends and ensuring research rigour.

The summit also featured a keynote address by Dr He Zhengyu of Ant Group and a panel discussion on integrating AI into workflows to boost growth and productivity. These initiatives underscore SNEF’s role in supporting employers through transformative changes in the workplace.

Rolo Robotics, a Singapore-based food robotics company, has raised US$3.45m in an oversubscribed seed round led by BEENEXT, with contributions from A2D Ventures, Seedstars, TIS Japan, Blueprint Ventures, SUTD Ventures, Antler, and Lotus One Investment. This funding will accelerate the deployment of Rolo’s fully autonomous micro-kitchens, which operate without on-site staff and offer 24/7 remote operability.

The company’s flagship product, MAYA 3.0, integrates robotic arms, multi-appliance coordination, and real-time heat control, all managed by the ChefOS orchestration software. These micro-kitchens are already operational in high-footfall areas across Singapore, such as campuses and transit hubs, where traditional food and beverage (F&B) services struggle to maintain profitability.

Rolo Robotics plans to expand internationally, with its first rollout in Australia scheduled for 2026. The company aims to establish 20–30 autonomous micro-kitchens in Singapore by 2026, creating a connected network of robotic kitchens. These kiosks are designed to be modular and white-label-ready, allowing quick-service restaurants (QSRs) to open new locations without the need for traditional kitchen infrastructure.

Ankit Upadhyay, General Partner at A2D Ventures, highlighted the challenges of the food robotics sector, stating, “Rolo has solved the hard engineering problems most only prototype. They’re not just building kiosks—they’re building food infrastructure.”

Co-founder and CEO Ravi Nahappan expressed confidence in the future of human-robot collaboration in food service, emphasising the potential for affordable, customisable, and fresh food offerings. The new funding will support Rolo’s expansion in Singapore and Australia, enhancing its technology and engineering capabilities.

KPay, a leading fintech company serving over 72,000 merchants in Australia, Hong Kong, Japan, and Singapore, has chosen Flagright to enhance its payment security. The collaboration will see KPay utilise Flagright’s AI-native, no-code platform for real-time transaction monitoring and anti-money laundering (AML) compliance, aiming to bolster financial crime controls across the Asia-Pacific region.

Flagright’s platform offers risk-based rules and AI forensics, enabling KPay to reconstruct complex transaction trails and expedite investigations. Alan Wong, Director of Risk and Compliance at KPay, highlighted the need for “speed, accuracy, and auditability,” stating that Flagright allows them to “configure rules quickly, automate customer risk profiles, and streamline investigations.”

KPay provides a comprehensive suite of payment services, including smart POS, QR payments, and a business account for small and medium enterprises (SMEs), which supports express T+0 settlement and rapid cross-border transfers. Richard Wong, Co-founder and Global Head of Partnerships at KPay, emphasised the company’s mission to offer a “seamless and secure path to grow” for merchants, with Flagright’s platform providing the necessary clarity and control.

Flagright’s CEO, Baran Ozkan, expressed excitement about supporting KPay, noting that the partnership will “safeguard every transaction with modern, efficient financial crime controls.” The integration is expected to help KPay detect risks before they escalate, ensuring robust security for its extensive merchant network.

This partnership follows KPay’s record-breaking $55m Series A funding round in 2024, marking the largest in the payments sector that year.

Therme Group, a global leader in developing wellbeing destinations, has been awarded the tender by the Singapore Tourism Board to create a S$1b state-of-the-art wellbeing oasis at Marina South Coast. This project marks the company’s first venture into Singapore and Asia, aiming to transform the area into a next-generation urban infrastructure focused on enhancing social wellbeing.

The development will be the first large-scale social wellbeing infrastructure project in Asia, highlighting Singapore’s commitment to advancing urban wellness. Therme Group’s initiative is expected to attract both local and international visitors, boosting Singapore’s tourism sector and setting a precedent for future wellness projects in the region.

The Singapore Tourism Board’s decision to award the Concept and Price Revenue Tender to Therme Group underscores the city’s ambition to be at the forefront of innovative urban development. The project is anticipated to integrate cutting-edge technology and sustainable practices, aligning with Singapore’s vision of a smart and green city.

Therme Group’s CEO expressed enthusiasm for the project, stating, “We are honoured to bring our vision of wellbeing to Singapore, creating a unique destination that will enhance the quality of life for residents and visitors alike.”

As construction progresses, the Marina South Coast is set to become a landmark for wellness tourism, potentially influencing similar developments across Asia. The project’s completion will not only enhance Singapore’s urban landscape but also contribute significantly to its economy and global standing as a wellness hub.

Eight Sleep, the pioneering sleep fitness company, has officially launched its AI-powered sleep technology in Singapore, marking its first foray into the Asian market. This expansion comes amidst growing concerns over sleep challenges in the city-state, where a ResMed Global Sleep Survey reveals that one in three Singaporeans experience sleep disturbances, surpassing the global average. Additionally, a CNA report highlights that adults in Singapore average just 6.5 hours of sleep on weekdays, below the recommended amount.

The introduction of The Pod, an AI-driven sleep system, aims to address these issues by enhancing deep sleep and cardiovascular recovery through advanced temperature regulation. Trusted by over 400 professional athletes, including F1 driver Charles Leclerc and tennis star Taylor Fritz, The Pod is designed to bring elite recovery into everyday homes.

Eight Sleep’s technology, endorsed by tech and health experts like Elon Musk and Andrew Huberman, transforms any bed into a comprehensive health platform. The Pod’s sensor-embedded cover tracks vital biometrics such as heart rate and sleep stages, whilst its thermal engine adjusts the bed’s temperature in real time. Paired with the Eight Sleep app, it offers personalised insights and automatic temperature optimisation, ensuring optimal comfort and performance every night.

Co-founders Massimo Bassi, Matteo Franceschetti, and Alexandra Zatarain lead Eight Sleep’s mission to optimise human potential through technology-enabled sleep, with Singapore as a key step in their global expansion.

CrowdStrike’s 2025 State of Ransomware Survey has highlighted a concerning trend of overconfidence among Asia Pacific (APAC) organisations regarding their ransomware preparedness. The survey, which included senior IT and cybersecurity leaders from Singapore, India, Australia, and New Zealand, found that 78% of organisations globally experienced a ransomware attack in the past year. Despite this, half of those affected believed they were “very well prepared” before the attack.

The survey revealed that APAC organisations, particularly in Singapore, Australia, and New Zealand, were less likely to recover quickly from ransomware attacks. Only 7% of Singaporean organisations managed to recover within 24 hours, despite 92% expressing confidence in their ability to do so. This was significantly lower than the UK, where 35% of organisations achieved same-day recovery.

The report also highlighted the increasing sophistication of cyber adversaries, with 53% of attacks on Singaporean organisations involving lateral movement to access additional systems. This was the highest rate among surveyed markets, indicating a need for improved cybersecurity measures.

Additionally, the survey found that paying a ransom often leads to repeat attacks, with 83% of organisations that paid a ransom being attacked again. Furthermore, 93% reported data theft despite paying.

The findings underscore the urgent need for organisations to reassess their cybersecurity strategies, particularly in light of AI-enhanced threats. As Elia Zaitsev, CrowdStrike’s chief technology officer, stated, “Legacy defences can’t match the speed or sophistication of AI-driven attacks.” The report calls for better communication between security teams and leadership to close the perception gap and enhance ransomware readiness.