Industry News

Colliers has released its Q1 2025 Singapore Office Market Report, revealing that whilst Core CBD Premium and Grade A office rents saw a slight decline of 0.1% quarter-on-quarter, they held steady at S$11.67 per square foot. Despite this marginal dip, some premium buildings experienced rental growth, highlighting the resilience of the market amidst tightening supply.

The report indicates a vacancy rate increase to 7.6%, attributed to the addition of Keppel South Central, which is nearing 50% occupancy. However, with limited new supply expected over the next two years, vacancies are anticipated to decrease, potentially leading to rental growth. Colliers advises tenants to act swiftly to secure space as options dwindle, whilst landlords of older buildings are encouraged to upgrade to remain competitive.

Tridiana Ong, Executive Director and Head of Tenant Representation at Colliers Singapore, noted, “The core CBD Premium and Grade A segment is expected to outperform due to limited supply and resilient demand for quality spaces in the CBD.”

The report also highlights that office demand will likely remain broad-based in 2025, with non-bank financial firms and technology firms continuing to drive space requirements. Catherine He, Head of Research at Colliers Singapore, added, “The office sector holds significant potential for investors to value-add due to the widening gap between older buildings and modern spaces.”

As the market evolves, the focus is expected to remain on renewals and flight-to-quality moves, with companies seeking modern spaces that align with new workplace trends and employee expectations.
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Singapore-headquartered MyRepublic, a leading digital-first telecom operator in the Asia-Pacific region, has unveiled Pocket Rocket Adventures, a pioneering gamified customer experience for its broadband and mobile subscribers. Available from April via the MyRepublic mobile app, this space-themed game aims to boost customer engagement and loyalty by offering rewards such as MyRepublic merchandise and gaming consoles.

Pocket Rocket Adventures allows subscribers to participate in an idle-style game where they can upgrade in-game equipment, craft companions, and complete challenges. Players earn points, digital rewards, and exclusive merchandise, with additional benefits for long-standing subscribers who link their game account to the MyRepublic app. This tiered experience is designed to enhance customer retention and lifecycle management.

Terry Williams, Vice President Consumer at MyRepublic, stated, “Pocket Rocket Adventures is more than just a game—it’s a strategic extension of how we view customer experience in the digital age.” The initiative represents a shift in telecom operators’ approach by integrating game mechanics to create a more interactive relationship with customers.

The game also functions as a data-driven loyalty programme, enabling MyRepublic to better understand customer behaviours and preferences. This aligns with the company’s strategy to differentiate itself in a competitive market by leveraging its roots in the gaming community and leading innovation in customer experience transformation.

By embedding gamification into its core customer engagement model, MyRepublic aims to evolve beyond transactional models and create emotionally engaging experiences. This initiative marks the beginning of a long-term transformation in designing and delivering customer value.
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Singapore is emerging as a pivotal player in the global green economy, according to insights from FTSE Russell’s Global Investment Research team. Lee Clements, Head of Applied Sustainable Investment Research, emphasised Singapore’s position as a hub for technology innovation and capital markets in the region, making it an attractive destination for sustainable equity investors.

Clements highlighted that Singapore’s green revenue share within the Straits Times Index (STI) is noteworthy when compared to global averages and other Asian markets. This positions Singapore as a leader in sustainable investment opportunities, particularly for those looking to capitalise on the growing green economy.

The STI, Singapore’s benchmark stock index, features sectors with significant green revenue exposure, further enhancing its appeal to investors focused on sustainability. These sectors are increasingly becoming focal points for investors seeking to align their portfolios with environmentally responsible practices.

The insights from FTSE Russell underscore the importance of Singapore’s strategic initiatives in fostering a sustainable economic environment. As the global demand for green investments continues to rise, Singapore’s proactive approach in integrating sustainability into its economic framework positions it as a key player in the region.

Looking ahead, Singapore’s commitment to sustainability is expected to drive further interest from investors worldwide, reinforcing its status as a leading hub for sustainable finance and innovation.
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Singapore-headquartered EdgePoint Towers, a leading telecommunications infrastructure company in ASEAN, has announced the appointment of Ravin Vickneswaran as Chief Operating Officer. With over 25 years of experience in the telecommunications industry, Ravin has been with EdgePoint since 2021. In his new role, he will oversee various departments, including Engineering, Implementation, and Operations, to drive the company’s vision and enhance service offerings.

Ravin expressed his enthusiasm for the role, stating, “I am thankful to step into this new role at such a transformative time for the industry. As Malaysia accelerates its 5G rollout, EdgePoint Towers remains committed to delivering future-ready infrastructure that enables seamless connectivity.”

Muniff Kamaruddin, CEO of EdgePoint Towers, highlighted Ravin’s significant contributions, noting, “His proven leadership, operational expertise, and strong execution capabilities will be instrumental in ensuring the company’s continued success.”

Ravin’s previous roles include Vice President of In-Building Coverage and Innovation at EdgePoint, where he expanded the company’s IBC and small cells portfolio. His career also spans senior positions at Celcom Axiata Berhad, Flexenclosure AB, and Maxis Communications Berhad.

EdgePoint Towers, with 1,800 sites, is the second-largest independent telecommunications infrastructure company in Malaysia. The company is part of EdgePoint Infrastructure, which operates across Malaysia, Indonesia, and the Philippines, focusing on innovative telecom solutions.
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In a remarkable debut, Briton Kate Waugh clinched the Singapore T100 Triathlon title on 5 April, setting a new record with a 6-minute 41-second winning margin. Competing in her first long-distance triathlon, Waugh outpaced seasoned competitors, including two-time defending champion Ashleigh Gentle from Australia and fellow Briton Lucy Charles-Barclay, who secured third place. Wildcard entrant Lisa Perterer claimed the silver medal.

The race unfolded with intense competition from the start. Lucy Charles-Barclay and Jessica Learmonth initially led the swim, but Waugh remained close behind. By the 25km mark of the 80km bike segment, Waugh was just 15 seconds behind Learmonth, eventually overtaking her during the run. Learmonth’s cramps allowed Waugh to seize control, finishing the race in 3 hours, 45 minutes, and 18 seconds.

Waugh expressed her excitement, saying, “I’m over the moon, I’ve got goosebumps right now. It was just an incredible day.” Her victory earned her 35 points and $25,000, placing her at the top of the T100 Race To Qatar standings.

Lisa Perterer, who finished second, remarked, “I still can’t believe it, 2nd place. I came to this race as a wildcard with no expectations.” Meanwhile, Lucy Charles-Barclay, despite recent setbacks, was thrilled with her podium finish, stating, “To get a podium in the first race back, I’m definitely over the moon.”

The Singapore T100 continues with age-group races and the Men’s Pro race. The T100 series offers a substantial prize pool, with the Qatar T100 Triathlon World Championship Final promising increased points and rewards.
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Olympic silver medallist Hayden Wilde made a remarkable debut at the Singapore T100, securing victory in a fiercely competitive field on 6 April. The New Zealander, who emerged 15th after the swim, showcased his endurance and tactical prowess during the bike leg, ultimately overtaking his competitors to win the race at Marina Bay.

Wilde’s performance was marked by a strategic ascent through the ranks, particularly during the 80km bike segment where he traded leads with Rico Bogen. By the final leg, Wilde’s stamina prevailed as Bogen faltered, allowing Wilde to cross the finish line in 3 hours, 18 minutes, and 11 seconds. “It’s really nice to win my first T100 race on my debut,” Wilde expressed, highlighting the challenging conditions and his strategic approach to the race.

Paris 2024 bronze medallist Leo Bergere and reigning T100 Triathlon World Tour champion Marten Van Riel completed the podium, finishing second and third respectively. Bergere, who trained in simulated conditions to prepare for Singapore’s heat, remarked on the race’s atmosphere and his eagerness for future competitions in the city.

The event saw over 7,000 participants across various categories, including a 100km triathlon for experienced amateurs. The T100 Triathlon World Tour will continue in San Francisco on 31 May, as athletes vie for points and prize money in the lead-up to the Qatar T100 Triathlon World Championship Final.
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HDB resale prices in Singapore remained unchanged in March 2025 compared to the previous month, despite a notable decline in transaction volume, according to the latest 99-SRX Media Flash Report. The report highlights a 9.2% decrease in the number of resale flats sold, with 1,911 units transacted in March. This marks a 7.4% drop compared to the same period last year.

The report reveals that whilst prices in Mature Estates fell by 0.4%, Non-Mature Estates saw a 0.8% increase. In terms of room types, 3-room, 5-room, and Executive flats experienced price declines of 0.9%, 1.1%, and 2.4%, respectively, whereas 4-room flats saw a 1.1% price increase. Year-on-year, overall prices rose by 9.5%, with all room types recording increases from March 2024.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the dip in transaction volume might indicate a shift in market sentiment. “Buyers may be finding private resale and new launches more appealing, particularly with SORA-linked loans now offering more competitive rates,” he said.

The report also highlighted that 108 HDB resale flats were sold for at least S$1m in March, a decrease from 121 such transactions in February. The highest transacted price was S$1.5m for a 5-room flat at Pinnacle@Duxton.

As buyers continue to explore options in both public and private housing segments, the resale market may remain subdued unless significant changes occur in borrowing costs or government policy.
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The Singapore Heart Foundation (SHF) celebrated its 55th anniversary on 6 April 2025 at the National Gallery Singapore, reaffirming its commitment to combating cardiovascular disease and stroke. The event, themed “Resilient HeARTs: Celebrating 55 Years of Empowering Heart Health,” was attended by Minister for Health Ong Ye Kung and highlighted SHF’s pioneering programmes and initiatives.

Since its establishment in 1970 by dedicated cardiologists and professionals, SHF has been at the forefront of heart health advocacy in Singapore. The Foundation’s efforts are centred around three core pillars: Prevention, Rehabilitation, and Resuscitation. Over the years, SHF has introduced numerous innovative programmes to educate the public, support heart patients, and equip individuals with lifesaving skills.

Professor Tan Huay Cheem, Chairman of SHF, remarked, “From the launch of Singapore’s first National Heart Week in 1972 to the introduction of Asia’s first female manikin vest for CPR training, SHF has always been evolving to address the challenges of an everchanging heart health landscape in Singapore.”

A key highlight of SHF’s preventive efforts is the newly launched CardioChase Game Kiosk, an interactive motion-sensing game designed to educate school students about heart-healthy lifestyles. This initiative follows the success of the online game “Captain Hugo,” launched in September 2022.

SHF’s dedication extends to rehabilitation, providing comprehensive programmes that have empowered thousands of individuals to regain health and vitality post-cardiovascular disease. As SHF looks to the future, it continues to inspire resilience and heart-healthy habits among Singaporeans.
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CapitaLand Investment (CLI) is set to revolutionise its CapitaStar rewards programme by enabling members to earn STAR$® instantly without scanning receipts, starting July 2025. This enhancement is part of a new three-year collaboration with Mastercard, which will serve as the preferred payment scheme partner, offering members additional benefits and rewards.

The initiative coincides with CapitaLand’s 25th anniversary, marking a significant milestone in its ongoing commitment to digital transformation and customer satisfaction. Ervin Yeo, Group Chief Strategy Officer and CEO of Commercial Management at CLI, stated, “Our goal is to make CapitaStar the premier rewards programme by improving our members’ ability to earn and spend STAR$®.”

From July 2025, CapitaStar members can link up to two Mastercard credit or debit cards on the CapitaStar app to earn rewards instantly at participating stores. Additionally, members can use eCapitaVoucher or STAR$® to offset payments and earn rewards. Existing payment methods such as DBS/POSB and ShopBack Pay will continue to offer instant STAR$® earnings.

The collaboration with Mastercard will also introduce exclusive promotional campaigns from Q2 2025, enhancing the rewards experience for CapitaStar members. Deborah Heng, Country Manager for Singapore at Mastercard, highlighted the importance of customer loyalty, stating, “Mastercard is pleased to bring years of innovative technology and deep rewards expertise to this collaboration with CLI.”

CapitaStar, Singapore’s leading multi-property rewards programme, currently serves over 1.8 million members across more than 3,000 stores. The programme has powered over $1.3b in retailer sales in 2024, reflecting its success in driving sales and traffic to retailers.
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DBS has launched a series of ’60-themed’ benefits aimed at supporting heartland merchants in Singapore, coinciding with the nation’s 60th birthday. The initiative, announced on 6 April 2025 at the DBS/POSB “Support Our Heartlands” carnival in Punggol, offers merchants savings of up to S$1,880 through waivers and cashback benefits.

The enhanced Heartland Merchant Banking Package includes a first-year waiver on account fees, no minimum balance, and processing fee waivers for the first 50 GIRO and FAST payments monthly. Additionally, merchants can enjoy six months of free NETS terminal fees, 60% off processing fees for working capital loans, and 6% cashback on Business Advance+ Debit Card spends. A S$60 cashback is also available for maintaining a minimum daily balance of S$20,000 over three months. Merchants signing up before 31 August 2025 stand a chance to win S$6,000.

DBS is also collaborating with partners to offer online courses that equip merchants with digital marketing skills, helping them reach new customers online. Lim Him Chuan, Singapore Country Head at DBS, emphasised the importance of heartland merchants, stating, “They are more than just businesses – they are the heart of our neighbourhoods.”

The carnival, attended by Senior Minister Teo Chee Hean and other officials, featured interactive stations for families to learn about digital and financial habits. The initiative is part of DBS’s ongoing efforts to support financial wellness and business growth in a digital economy.
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