Industry News

The Urban Redevelopment Authority has announced the launch of land tenders for three sites at Dairy Farm Walk, Dover Drive, and Tanjong Rhu Road, as part of the second half of 2025 Government Land Sales programme. These sites are expected to yield approximately 480, 625, and 525 residential units respectively. The tenders will close on 22 January 2026, 26 March 2026, and 5 February 2026.

Dairy Farm Walk, located near several schools and amenities, is anticipated to attract nature lovers due to its proximity to Bukit Panjang Park and Dairy Farm Nature Park. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted that despite being the fourth land parcel released in the area recently, the location’s appeal and amenities may sustain demand. The site is expected to attract 2 to 4 bidders, with a highest land rate of S$900 to S$1,000 per square foot per plot ratio (psf ppr).

Dover Drive’s strategic location near educational institutions and business hubs makes it appealing to families and investors. The site includes 3,000 sqm of commercial space, enhancing its attractiveness. Quek anticipates 3 to 6 bidders, with a highest land rate of S$1,200 to S$1,300 psf ppr.

Tanjong Rhu Road marks the first land parcel release in the area in nearly 30 years. Its proximity to the Singapore Swimming Club, Kallang Wave Mall, and the National Stadium, along with potential views of the CBD skyline or the sea, could drive interest. Quek expects 2 to 5 bidders, with a highest land rate of S$1,300 to S$1,400 psf ppr.

Mondrian Singapore Duxton has announced the appointment of Damien Marchenay as its new General Manager. With over 20 years of international experience in the hospitality industry, Marchenay is set to bring his creative and people-first leadership to the hotel, aiming to deepen its cultural connection to the Duxton neighbourhood and elevate its status as a cultural anchor in Singapore.

Marchenay’s career began in the nightlife and dining sectors, which honed his skills in atmosphere and community building. His journey has taken him across Europe and Asia, including a significant stint at Raffles Hotel Singapore two decades ago. Most recently, he transformed Mondrian Seoul Itaewon into a cultural hub known for its vibrant events and collaborations. His leadership philosophy, rooted in trust and creativity, is expected to empower the Mondrian team and enhance guest experiences.

In his new role, Marchenay plans to strengthen ties with local creatives and businesses, fostering a hotel ecosystem that reflects the dynamic energy of Duxton. His vision includes championing collaborations and creating experiences that go beyond traditional hospitality, aiming to leave a lasting creative legacy. “If the concepts and experiences we create here are still being copied in 10 years,” Marchenay stated, “that’s when you know you’ve built something meaningful.”

As Mondrian Singapore Duxton continues to evolve, Marchenay’s appointment marks a significant step in its journey to becoming a modern legend in Singapore’s hospitality scene.

Banyan Group announce a significant milestone with the grand opening of its 100th hotel, the Mandai Rainforest Resort by Banyan Tree, in Singapore. This marks the group’s first venture in the city-state, nestled within the Mandai Wildlife Reserve, a renowned nature and wildlife destination. The resort, owned by Mandai Wildlife Group, is designed to offer guests an immersive experience in nature, aligning with Singapore’s City in Nature vision.

Eddy See, President and CEO of Banyan Group, expressed the significance of this opening, stating, “As we mark our 100th hotel with our first in Singapore, Mandai Rainforest Resort by Banyan Tree represents a deeply meaningful homecoming.” The resort offers a unique opportunity for guests to connect with nature and enjoy wildlife experiences right at their doorstep.

The resort spans 4.6 hectares and features biophilic design elements, including elevated treehouses and a five-storey building with views of the Upper Seletar Reservoir. Sustainability is a key focus, with the resort achieving Singapore’s first Green Mark Platinum Super Low Energy certification. Rooms are equipped with interactive displays to monitor power usage, and rainwater is harvested for use in flushing.

Dining at the resort is highlighted by Forage, a restaurant offering nature-inspired dishes with ingredients sourced from a rooftop garden. The resort also features a spa, a ballroom for events, and a playground designed to integrate with the surrounding rainforest.

Guests have access to nearby wildlife parks and attractions, including Singapore Zoo and Night Safari, with special rates and programmes available. The Mandai Rainforest Resort by Banyan Tree aims to provide a comprehensive nature-led experience for visitors of all ages.

Singapore’s property market is set to see heightened competition as developers eye new Government Land Sales (GLS) sites at Dairy Farm Walk, Dover Road, and Tanjong Rhu Road. With unsold inventory dropping to a low of 17,209 units in Q3 2025, developers are keen to replenish their land banks, though they remain selective about tenders, according to Mark Yip, CEO of Huttons Asia.

The Dairy Farm Walk site, located in a private residential enclave near nature and amenities, is expected to attract up to three bidders, with top bids ranging from $900 to $1,000 per square foot per plot ratio (psf ppr). The area boasts good connectivity with nearby MRT stations and schools, making it an attractive option for developers.

Meanwhile, the Dover Road site, the first in the new Dover-Medway neighbourhood, is anticipated to draw up to six bidders. Situated next to the Greater one-north area, Singapore’s premier research and development hub, the site is well-positioned to meet the housing needs of the 50,000-strong workforce in the area. Top bids are expected to range from $1,200 to $1,300 psf ppr.

The Tanjong Rhu Road site, the first GLS offering in the area since 1997, is likely to see up to seven bidders. Located in a waterfront precinct with easy access to the CBD and Changi Airport, the site is expected to attract top bids between $1,300 and $1,400 psf ppr. The area’s transformation under the Kallang Alive Masterplan adds to its appeal.

These GLS sites, set to be launch-ready in 2027, are poised to intensify competition among developers, particularly in the Outside Central Region (OCR), where a high supply of private homes and executive condominiums is anticipated.

Coliwoo has reported a remarkable 62.6% increase in its core profit after tax and minority interest (PATMI), reaching S$22.9m for the financial year 2025. This surge is attributed to the company’s strategic focus on optimising asset returns and the resilience of its co-living business model. The company also announced dividends of 2.0 Singapore cents, reflecting its strong financial performance.

Coliwoo maintained a high occupancy rate of 96.1% across its portfolio, underscoring the robust demand for co-living spaces in Singapore. Executive Chairman and CEO Kelvin Lim expressed satisfaction with the results, highlighting the 11 percentage-point improvement in gross profit margin as evidence of the company’s strategic success. “The strong market fundamentals in Singapore, evidenced by sustained high rental demand and a recovering corporate and MICE segment, give us great confidence,” Lim stated.

In addition to its financial achievements, Coliwoo is expanding its pipeline with a 50:50 joint venture acquisition aimed at transforming an under-utilised building into a co-living and commercial development. This move is part of Coliwoo’s strategy to increase its market share, with a target of nearly 4,000 rooms by the end of 2026.

The company is set to host its FY2025 Result Briefings on 5 December 2025, providing insights into its business strategies and growth outlook. As Coliwoo continues to strengthen its position in the co-living sector, it remains poised to capitalise on the growing demand for flexible living solutions.

StraitsX, a Singapore-based stablecoin infrastructure provider, has announced a year of strategic expansion in 2025, marking a pivotal moment for digital finance in Asia. As stablecoins gain traction in cross-border payments, StraitsX has strengthened its role by forming key partnerships with companies like OKX SG and Grab, and expanding collaborations with banks and institutional networks across the region.

In 2025, StraitsX unveiled a refreshed brand identity to reflect its ambition to scale its infrastructure across borders. This new identity aligns with its mission to provide compliant and seamless digital currency infrastructure. The company has also deepened its partnerships, such as with Thailand’s KASIKORNBANK, to integrate stablecoin-based settlement into existing payment channels, enhancing efficiency and transparency.

StraitsX’s collaboration with OKX SG and Grab has extended stablecoin utility into everyday payment environments, allowing users to leverage stablecoins like USDT and USDC for daily transactions. Additionally, a strategic memorandum of understanding with Grab aims to integrate stablecoin-compatible wallets into the Grab platform, enabling merchants to accept fiat-backed stablecoins such as XSGD and XUSD.

The company has also expanded its multichain strategy, with XSGD now listed on Ripple’s XRP Ledger and Coinbase, enhancing liquidity and usability. StraitsX’s participation in global forums has further solidified its position as a leader in digital money innovation, advocating for regulatory-compliant stablecoins to bridge traditional and modern financial systems.

Looking ahead to 2026, StraitsX aims to deliver programmable and interoperable infrastructure to meet the growing demand from payment service providers and institutions, positioning stablecoins as essential rails of global payments.

Aster Power has announced a significant investment of $150m to develop a hydrogen-ready gas turbine at its energy and petrochemical hub in Singapore. This initiative, backed by Chandra Asri’s infrastructure arm, Chandra Daya Investasi, aims to enhance energy efficiency and support Singapore’s transition to a low-carbon economy by the end of 2029.

The new turbine will integrate with Aster’s existing chemical facilities, enabling the production and utilisation of low-carbon electricity. It is designed to be hydrogen-ready, allowing for future co-firing as hydrogen becomes commercially viable. This development is part of Aster’s long-term decarbonisation strategy, which includes reducing carbon intensity and supplying additional low-carbon electricity to Singapore’s grid.

Erwin Ciputra, Group CEO of Chandra Asri and Aster, stated, “This is a significant step in strengthening our energy competitiveness whilst advancing our decarbonisation efforts. The hydrogen-ready turbine will help future-proof our operations and contribute to cleaner, more efficient energy for Singapore.”

Aster, a joint venture led by Chandra Asri and Glencore, is a prominent provider of energy, chemical, and infrastructure solutions in Southeast Asia. The company’s strategic assets include a refinery and naphtha crackers in Indonesia and Singapore, supporting its commitment to industrial energy efficiency upgrades.

The investment underscores Aster Power’s dedication to advancing clean energy solutions and aligns with Singapore’s broader environmental goals. As operational readiness is targeted for 2029, the project is expected to play a crucial role in the nation’s sustainable energy landscape.

The American Chamber of Commerce in Singapore (AmChamSG) has unveiled its 2025 Manpower Survey findings at the Human Capital Conference, highlighting significant workforce changes driven by artificial intelligence (AI). The survey, developed with the Centre for Creative Leadership, reveals that over 40% of companies expect to reduce headcount within the next year, particularly in data analytics, customer service, and finance. Additionally, nearly half of the companies foresee job reductions due to AI adoption over the next two years.

The survey also notes a positive trend in narrowing skill gaps among mid-level local talent, particularly in creativity, adaptability, entrepreneurial thinking, and communication. However, a lack of global exposure remains a barrier, with 46% of companies citing it as a major constraint for Singaporeans and permanent residents in attaining senior leadership roles.

Hybrid work adoption is another key finding, with 56% of companies fully embracing flexible work policies. Employers are also investing in structured training and mentorship programmes to bolster the local talent pipeline. Elisa Mallis, Global Vice President of Research Innovation at the Centre for Creative Leadership, stated, “The survey results affirm that progress happens when stakeholders—government, industry leaders, and workers—move together.”

AmChamSG also recognised outstanding graduates from the Singapore University of Social Sciences at the conference, underscoring its commitment to nurturing future business leaders. CEO Hsien-Hsien Lei emphasised the importance of such talent, noting their resilience and adaptability. The full survey results are available on AmChamSG’s website.

Singapore’s National Quantum Office (NQO), in collaboration with France’s Centre national de la recherche scientifique (CNRS) and Quantonation, announced three new research partnerships at the French–Singaporean Quantum Symposium (FSQS 2025) in Paris on 25 November. These agreements focus on quantum computing, quantum photonics, and energy-efficient quantum technologies, supporting Singapore’s National Quantum Strategy.

The partnerships involve expanding the CNRS–NQO Memorandum of Understanding to include quantum computing, alongside existing work in quantum photonics and energetics. This collaboration aims to improve quantum computers’ error-handling capabilities, crucial for applications like drug discovery and financial modelling.

Additionally, a Master Research Collaboration Agreement was signed between Pasqal, a French quantum computing company, and Singapore’s National-level Quantum Programmes. This agreement will focus on advancing research in neutral atom quantum processors, enhancing the accuracy of quantum computation and the efficiency of algorithms.

Quobly, a French quantum startup, has also entered a Research Collaboration Agreement with Singapore’s National Quantum Federated Foundry. This partnership will work on developing silicon spin-qubit technologies, essential for building next-generation quantum devices.

The FSQS 2025 symposium, jointly organised by NQO, CNRS, and Quantonation, highlighted the ongoing collaboration between France and Singapore in quantum technologies. The event featured discussions on translating scientific discoveries into practical applications, with notable contributions from quantum pioneers such as Nobel Laureate Alain Aspect and Artur Ekert.

The next edition of FSQS will be held in Singapore in 2026, continuing efforts to strengthen bilateral cooperation in quantum research and development.

JTC has announced the launch of a new site at Pandan Road as part of the second half of the 2025 Industrial Government Land Sales (IGLS) Programme. This site, which is the fourth of five Confirmed List sites for the period, offers a 33-year lease tenure, an extension aimed at improving the industrial land lease framework. The tender for this site will close on 20 January 2026 at 11:00 am.

The Pandan Road site spans 0.66 hectares with a gross plot ratio of 2.5 and is zoned for B2 industrial use. This launch is part of JTC’s ongoing efforts to meet the demand for industrial land in Singapore, providing businesses with opportunities to expand their operations.

Interested parties can purchase the Tenderer’s Packet for S$185.30, inclusive of GST, through the official JTC website. This packet contains all necessary details for potential bidders to participate in the tender process.

The enhancements to the lease framework, including the additional three-year tenure, are designed to offer greater flexibility and support for industrial developments. This initiative is expected to attract a range of businesses looking to establish or expand their presence in Singapore’s industrial sector.

Further information regarding the site and the IGLS Programme can be accessed on JTC’s website. The launch of the Pandan Road site underscores JTC’s commitment to facilitating industrial growth and development in Singapore.