Industry News

BYD, in collaboration with Sime Motors and Vantage Automotive Limited, has launched its first plug-in hybrid electric vehicle (PHEV) in Singapore, the BYD SEALION 6 DM-i. This new SUV marks a significant step in BYD’s strategy to cater to diverse driving needs, combining electric and hybrid capabilities to suit Singapore’s urban landscape.

The SEALION 6 DM-i is powered by BYD’s DM-i Super Hybrid system, featuring an 18.3 kWh Blade Battery and a 1.5L petrol engine. This setup allows for an electric-first driving experience with a range of up to 80 km on electric power alone, whilst offering a total system output of 217 kW and 300 Nm of torque. The vehicle’s fuel consumption is rated at 5.7 L/100 km, making it an efficient choice for drivers concerned about range and fuel economy.

James Ng, Managing Director of BYD Singapore and Philippines, highlighted the importance of this launch, stating, “The BYD SEALION 6 DM-i is our answer to the needs of drivers who face challenges such as charging access or range confidence.”

The SUV is designed with Singaporean drivers in mind, offering features such as a 15.6-inch infotainment display, adaptive cruise control, and a compact turning radius for navigating tight city spaces. It also includes a 10-year warranty on servicing and the Blade Battery, providing long-term value and peace of mind for owners.

Available at BYD showrooms across Singapore, the SEALION 6 DM-i is priced at $155,000 (S$212,888), including a guaranteed Certificate of Entitlement (COE). This launch represents BYD’s continued commitment to expanding its electrification journey in Singapore, aiming to make sustainable driving accessible to a broader audience.
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DBS has been awarded the prestigious ‘World’s Best Bank’ title at the Euromoney Awards for Excellence 2025, marking the third time since 2019 that the bank has received this top accolade. The Singapore-based bank also won the inaugural ‘World’s Best Bank for Customer Experience’ and ‘World’s Best Bank for Corporate Responsibility’ awards, underscoring its commitment to customer service and sustainable practices.

The recognition comes amid economic uncertainty and rapid technological change, with Euromoney’s Head of Banking, Dominic O’Neill, praising DBS for its “future-forward approach” and ability to leverage technology for value creation. In 2024, DBS achieved record financial results, with a total income of $16.3b (S$22.3b) and a net profit of $8.3b (S$11.4b). The bank’s return on equity was 18%, one of the highest among developed market banks.

DBS has been at the forefront of digital innovation, engaging over 13m customers with AI-powered personalised nudges to enhance financial decisions. The bank’s commitment to corporate responsibility is evident in its $65.1b (S$89b) sustainable financing commitments and its pledge of $731m (S$1b) and 1.5m volunteer hours to support low-income communities in Asia.

DBS CEO Tan Su Shan expressed gratitude for the awards, stating, “Innovation and purpose are integral to the DBS culture.” The bank’s accolades reflect its dedication to making banking simpler and more impactful for its customers and society. This latest recognition marks the eighth time DBS has been honoured for its global leadership.

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UpperHouse at Orchard Boulevard, a 99-year leasehold project in District 10, has reported robust sales during its private preview, with over 53% of its 301 units sold at an average price of $3,350 per square foot (psf). This marks the strongest take-up rate for a new project in the Core Central Region (CCR) since Watten House launched in November 2023, selling 57% of its 180 units.

The impressive sales performance of UpperHouse comes amidst another CCR launch, The Robertson Opus, which is also showing promising results. Kelvin Fong, CEO of PropNex, noted that the combined supply of new homes from UpperHouse and The Robertson Opus represents the largest influx of units in the CCR since the additional buyer’s stamp duty (ABSD) was tightened in April 2023.

The positive reception of these projects could stimulate further interest in the CCR market, with expectations for a rebound in developer sales by Q3 2025. Notably, the units sold at UpperHouse during the preview have already surpassed the total CCR new units sold in Q2 2025.

UpperHouse’s pricing is considered competitive, especially when compared to nearby developments. For instance, Park Nova’s new units averaged $6,150 psf, while Boulevard 88’s resale units were around $4,200 psf. Cuscaden Reserve’s resale units averaged over $3,100 psf in early 2025. The pricing at UpperHouse, particularly for one and two-bedroom units, aligns with the budget of many buyers, offering a compelling value proposition for luxury living near Orchard Road.

Located in a private residential enclave, UpperHouse benefits from excellent connectivity via the Orchard Boulevard MRT station and proximity to commercial amenities like Tanglin Mall and Orchard Road stores, enhancing convenience for future residents.
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UPPERHOUSE at Orchard Boulevard has achieved significant success, selling an estimated 53% of its units during its launch weekend. This makes it the best-selling project in the CCR for 2025, surpassing previous records set by The M in February 2020. The development’s unique location, with direct access to Orchard Boulevard MRT station, and its proximity to the Singapore Botanic Gardens and Orchard Road, have contributed to its appeal.

The project saw almost all of its three-bedroom units sold out, whilst about one-third of the four-bedroom units were purchased, indicating a strong demand from owner-occupiers. Mark Yip, CEO of Huttons Asia, noted that selling over half of the units in a CCR project is an excellent result, highlighting the resilient demand for prime homes in Singapore’s property market.

The narrowing price gap between new homes in the CCR and the Rest of Central Region (RCR) has also played a role in attracting buyers. The gap has decreased from 56.5% in 2018 to just 1.9% in the first half of 2025, suggesting potential for price growth in the CCR. Additionally, recent economic data showing a 4.2% year-on-year growth in the first half of 2025 and a dip in the 3-month SORA rates below 2.0% have boosted buyer confidence by lowering borrowing costs.

Overall, the success of UPPERHOUSE at Orchard Boulevard underscores the strong fundamentals of Singapore’s property market and the continued interest in prime CCR homes.
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UPPERHOUSE at Orchard Boulevard, a luxury residential development by UOL Group Limited, has seen significant interest during its private preview, with over 53% of units sold. The development’s strategic location in the Orchard Road precinct and its appealing attributes have attracted both owner-occupiers and investors, according to UOL’s Chief Corporate & Development Officer, Yvonne Tan.

The development’s success is attributed to its prime location and the narrowing price gap between the Core Central Region (CCR) and Rest of Central Region (RCR), as well as the attractive price differential between freehold and leasehold high-end luxury properties. Tan stated, “The strong take-up at UPPERHOUSE at Orchard Boulevard’s private preview reflects buyers’ confidence in its location in the Orchard Road precinct.”

Anson Lim, Senior General Manager (Residential Marketing) at UOL, noted that the development’s appeal is further reinforced by its direct MRT access, efficient layouts, and competitive pricing. “A strong visitorship over the last two preview weekends has resulted in a healthy take-up across all unit types,” Lim said, highlighting that a high floor unit in the Bespoke Collection was sold for approximately $7.66m.

The development’s success underscores the continued demand for luxury properties in Singapore’s prime districts, with almost all buyers being Singaporeans and permanent residents. As the Orchard Road precinct continues to rejuvenate, UPPERHOUSE at Orchard Boulevard is poised to remain a sought-after address for discerning buyers.
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The Robertson Opus, a new 999-year leasehold development in Singapore’s Core Central Region (CCR), has sold approximately 41% of its units during its launch weekend, according to Huttons Asia. This impressive sales figure underscores the robust demand for prime CCR homes and the solid fundamentals of Singapore’s property market.

The development’s unique features, including its courtyard design and proximity to the Singapore River, have attracted buyers. Its location, less than a five-minute walk from Fort Canning MRT station and within 1km of River Valley Primary School, adds to its appeal. Mark Yip, CEO of Huttons Asia, noted that the narrowing price gap between CCR and Rest of Central Region (RCR) homes—from 56.5% in 2018 to just 1.9% in the first half of 2025—suggests potential for significant price appreciation.

Interest was particularly strong in the larger units, with over 50% of the three-bedroom and four-bedroom units sold. The premium versions of these units are nearly sold out, highlighting the project’s attractiveness to families seeking spacious living in a prime location.

Huttons Data Analytics estimates the average price achieved at The Robertson Opus to be around $3,366 per square foot, which is competitive and slightly higher than some RCR projects. This pricing reflects the project’s value proposition and its potential for future growth as the price gap between CCR and RCR homes widens.
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The Robertson Opus, a new 999-year leasehold development in Robertson Quay, achieved impressive sales during its launch, with 41% of its 348 units sold at an average price of $3,360 per square foot. This makes it one of the most successful launches in the Core Central Region (CCR) in recent years, according to Kelvin Fong, CEO of PropNex.

The development’s success is attributed to its prime location in District 9 and the limited supply of similar projects in the area. The last comparable launches in the Singapore River Planning Area were in 2010. The Robertson Opus offers a mix of residential and commercial spaces, enhancing its appeal with proximity to retail and dining options, as well as the Fort Canning MRT station.

The pricing of units at The Robertson Opus is considered attractive, with one-bedroom units ranging from $1.59 million to $1.67 million, two-bedroom units from $2.17 million to $2.63 million, and three-bedroom units starting at $3.10 million. The development’s location and amenities, including nearby shopping centres and parks, further boost its desirability.

This weekend also saw the launch of UpperHouse at Orchard Boulevard, which sold 160 out of 301 units. Together, these two CCR projects sold 303 units, surpassing the quarterly CCR new home sales recorded in Q3 2023. The demand for private housing is primarily driven by local buyers, with over 93% of non-landed new private homes in the CCR purchased by Singapore PRs and Singaporeans in the first half of 2025.

The strong sales performance sends a positive signal for the CCR sub-market, with more launches expected in the coming months. The momentum from this weekend’s sales is anticipated to continue into August, as more new projects are introduced.
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Frasers Property Limited and Sekisui House have announced a robust sales performance for The Robertson Opus, a luxury residential development in Singapore’s prime District 9. Over the launch weekend, 143 out of 348 units were sold, representing 41% of the total, with an average price of $2,460 (S$3,360) per square foot. The development, offering a rare 999-year tenure, has become one of the best-selling launches in the Core Central Region since 2022.

The strong demand was particularly evident for the three-bedroom and four-bedroom premium units under the Legacy Collection, which are nearly sold out. The majority of buyers are affluent professionals, with 83% being Singaporeans, 16% Permanent Residents from China and Indonesia, and 1% foreigners from the US and Switzerland.

CEO of Frasers Property Singapore, Soon Su Lin, expressed satisfaction with the sales, stating, “This affirms homebuyers’ confidence in the combined expertise of Frasers Property and Sekisui House to deliver exceptional, thoughtfully designed homes.” Toru Ishii, Director of the Board of Sekisui House, added that the sales reflect strong demand for luxury homes in Singapore’s city centre.

The Robertson Opus offers residents proximity to key business and lifestyle hubs, including the Singapore River, Marina Bay, and Orchard Road. The development features a range of amenities such as a sky forest, wellness facilities, and smart home solutions, enhancing the living experience.

The sales gallery is open daily, with marketing handled by ERA, Huttons, PropNex, OrangeTee & Tie, and SRI. The success of The Robertson Opus underscores the continued demand for luxury properties in Singapore’s prime locations.
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Singapore’s industrial sector demonstrated resilience in Q2 2025, with the economy expanding by 4.3% year-on-year and 1.4% quarter-on-quarter, according to the Ministry of Trade and Industry. The manufacturing sector, a key driver, grew by 5.5% year-on-year, despite ongoing global trade tensions and economic uncertainties.

The Singapore Economic Development Board reported a 3.9% year-on-year increase in manufacturing output in May 2025, with all clusters except general manufacturing showing growth. Transport engineering and precision engineering led with double-digit growths of 25.6% and 10.3%, respectively. However, the general business outlook turned negative, dropping 22 percentage points to a negative 6% due to global trade tensions.

The industrial property market also showed strength, with transaction activity increasing significantly. The total sales value rose by 185.5% quarter-on-quarter to $1.6b (S$2.2b), supported by key transactions such as the sale of a data centre at 9 Tai Seng Drive for $330.5m (S$455.2m). Leasing activity increased by 11.7% quarter-on-quarter, with 3,360 rental transactions valued at $22m (S$30.2m).

Calvin Yeo, Head of Occupier Strategy and Solutions at Knight Frank Singapore, noted, “Singapore’s stability and brand as a strategic business hub is expected to continue as a bulwark for firms looking for a safe harbour to set up or expand.”

Looking ahead, Singapore’s industrial sector is expected to remain stable, although global manufacturing challenges persist. Industrial prices are projected to see moderate gains of 3% to 5% for the year, driven by strong investor interest.

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RHB Singapore has announced its strategic priorities under the PROGRESS27 roadmap, a three-year plan designed to bolster its role as a key growth driver within the RHB Banking Group. The announcement was made during a media event in Singapore, where the leadership team, including CEO Goh Ken-Yi, outlined the Group’s ambitions to enhance its regional footprint through Singapore.

RHB Singapore has demonstrated significant growth, with total income rising by 18.6% to $184.5 million (SGD252.6 million) in 2024, and gross loans increasing by 14.7% to $6.54 billion (SGD8.95 billion). Profit Before Tax nearly doubled, reaching $72.1 million (SGD98.7 million), whilst the sustainable financing portfolio expanded by 40% to $710.5 million (SGD972 million). “RHB Singapore plays a pivotal role in driving the Group’s regional ambitions,” said Goh Ken-Yi.

The bank has also focused on enhancing customer engagement, completing a digital-first transformation of its branch network and maintaining its top Net Promoter Score ranking among Singaporean banks. It has received eight industry awards in 2025, including “Mid-sized International Retail Bank of the Year.”

RHB’s Group International Business, established in April 2025, is a core pillar for regional growth, with RHB Singapore contributing approximately 80% of its total income. Danny Quah, Managing Director of Group International Business, highlighted the importance of aligning strategies with local market dynamics to seize regional opportunities.

PROGRESS27 aims to achieve a Return on Equity of 12% by 2027, reduce the Cost-to-Income Ratio to below 44.8%, and maintain a Gross Impaired Loan ratio not exceeding 1.3%. The strategy focuses on service excellence, high profitability, and responsible growth, driven by eight transformational programmes.
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