Industry News

Jewel Changi Airport has extended its strategic collaboration with Mastercard for another three years, following a successful partnership that began in October 2022. This renewal aims to continue driving visitor spending and enhancing experiences through exclusive Mastercard cardholder privileges across retail, dining, and leisure offerings at Jewel.

Over the past three years, Mastercard transaction volumes at Jewel have shown consistent growth, with a Compound Annual Growth Rate (CAGR) of 20% in card transactions. Jewel launched 30 marketing campaigns during this period to stimulate spending, encouraging the use of Mastercard.

The renewed collaboration will leverage Mastercard’s global network and data analytics to refine marketing strategies, targeting both local and international visitors. Mastercard plans to reward tourists with exclusive vouchers and promotions, capitalising on Jewel’s status as a key lifestyle destination, where international visitors account for 35% of footfall.

Lee Ching Wern, CEO of Jewel Changi Airport Development, expressed enthusiasm for the continued partnership, stating, “Mastercard is a long-standing partner of Jewel and we are pleased to continue our collaboration with them for another three years.” Deborah Heng, Country Manager, Singapore, Mastercard, highlighted the importance of creating meaningful experiences, noting, “By combining Mastercard’s innovation with Jewel’s world-class attractions, this collaboration delivers elevated experiences that inspire loyalty.”

The partnership will focus on rolling out more marketing campaigns and enhancing visitor experiences through engaging events and activations, aiming to drive return visits and enrich the overall visitor experience at Jewel.

Bluwhale has secured $10m in a Series A funding round led by United Overseas Bank’s (UOB) venture arm, marking a significant step in the integration of AI and blockchain in financial services. The funding, announced on 22 October 2025, underscores the growing trend of institutional investment in digital assets, with Bluwhale’s decentralised AI network already serving over 3.6 million users globally.

UOB Venture Management, a subsidiary of one of the world’s top 100 banks, spearheaded the investment, alongside notable backers such as SBI Holdings and top blockchain platforms including Sui, Tezos, and Cardano. This investment highlights the industry’s shift towards real-world applications of blockchain and AI technologies.

Han Jin, CEO of Bluwhale, stated, “The investors in this round signal strong commitments from both Web2 and Web3 to a future powered by AI agents delivering financial services across blockchains.” The company’s approach combines AI agents with a user’s financial health score, offering personalised financial services to a tech-savvy Gen Z audience.

The recent Token Generation Event introduced $BLUAI, Bluwhale’s native token, further expanding its ecosystem. This move aims to enhance the scalability and interoperability of AI applications across multiple blockchain platforms.

Bluwhale’s strategic partnerships and funding will drive its mission to integrate AI into everyday financial applications, targeting the digital-first younger generation. As Jin noted, “Gen Z will need AI agent-managed financial services,” emphasising the shift away from traditional banking methods.

With this funding, Bluwhale is poised to accelerate digital transformation in financial services, leveraging AI and blockchain to meet the evolving needs of modern consumers.

Investment sales in Singapore experienced a significant rebound in the third quarter of 2025, with total transactions reaching S$11.09b, nearly doubling from the S$5.66b recorded in the second quarter. This growth was bolstered by declining interest rates and supportive regulatory reforms, according to Savills’ latest briefing.

The residential sector led the charge, accounting for 45.1% of the market, with investment sales soaring to nearly S$5b—more than twice the amount from the previous quarter. The commercial sector also saw a substantial increase, with sales hitting S$2.52b, up from S$426.9 million in Q2. This was largely due to several high-value transactions and renewed interest in strata-titled units and shophouses.

Despite a 26.7% quarter-on-quarter decline in the industrial sector, which totalled S$1.05b, Singapore Real Estate Investment Trusts (S-REITs) remained active, benefiting from a positive market environment. Private-sector transactions in this segment surpassed those in the first and second quarters of the year.

Savills has revised its forecast for 2025, projecting total investment sales to reach between S$28b and S$30b, up from an earlier estimate of S$20b. The firm anticipates that favourable market conditions will persist into 2026, potentially maintaining the high investment sales values seen this year.

DBS Group Research has released a report titled “Singapore: The Next 15 Years of Quality and Inclusive Growth,” highlighting the nation’s economic trajectory towards 2040. The report anticipates Singapore’s GDP to more than double from $547 b in 2024 to between $1.2t and $1.4t  by 2040. This growth is expected to be driven by capital accumulation, human capital, and productivity gains, with services playing a pivotal role.

The report identifies five sectors—trade and connectivity, financial services, energy and climate, real estate, and healthcare/social services—as crucial to enhancing Singapore’s international competitiveness. These sectors are expected to underpin nearly three-quarters of the nominal gross value-added, reinforcing Singapore’s position as a global entrepôt and financial hub.

A significant highlight is the potential strengthening of the Singapore dollar, which could reach parity with the US dollar by 2040. This is attributed to disciplined policy and the currency’s safe-haven appeal. Additionally, the Straits Times Index (STI) is projected to rise significantly, potentially reaching nearly 10,000 by 2040, driven by liquidity reforms and global inflows.

Timothy Wong, Group Head of DBS Group Research, emphasised the importance of resilience and adaptability in navigating future challenges, stating, “The path ahead will demand vigilance, disciplined governance, and agility in balancing growth with sustainability and social resilience.”

As Singapore approaches its 75th year of independence in 2040, the report underscores the nation’s potential for enduring value creation amidst a fast-changing global landscape.

The October 2025 Build-To-Order (BTO) application results have shown a significant interest in Bukit Merah’s 4-room flats, with 5,111 applicants marking the highest demand across all flat types and towns. This surge in interest, despite higher prices and clawback rates for Prime flats, was anticipated by Realion (OrangeTee & ETC) Group’s Chief Researcher and Strategist, Christine Sun. She noted that buyers are keen on the first-mover advantage of owning the first HDB flats in the area, with limited resale options and private condominiums priced over $1.46m (S$2m).

Yishun Chencharu also saw a strong response, particularly for its 2-room flexi flats, which attracted many first-timer singles. Over 1,400 applications were received for the 3-room and larger flats. The project’s appeal lies in its proximity to schools and the MRT station, along with a short waiting time and a five-year Minimum Occupation Period (MOP), offering buyers a quicker market exit compared to Prime and Plus flats.

The application rates for first-timer singles in areas like Bedok, Bishan, and Jurong East exceeded 14, highlighting a strong desire for new flats despite longer MOP periods and stringent resale criteria. This trend underscores a genuine need for affordable housing options for singles, who previously faced higher costs with resale flats or private homes.

Conversely, community care apartments saw less interest, with an application rate below 1. Many applicants preferred the 2-room flexi flats in Yishun Chenchuru, which offer a shorter completion time and lower pricing. A new scheme prioritising families applying for two flats within the same project may have also influenced these choices.

Booking.com has unveiled its Travel Predictions report for 2026, highlighting a shift towards ultra-personalised travel experiences. Drawing insights from over 29,000 travellers across 33 countries, the report identifies ten key trends that will define the travel landscape. These trends reflect a growing desire for journeys that are tailored to individual interests, facilitated by advancements in technology.

Among the standout trends is the rise of “Romantasy Retreats,” where 83% of Singaporean travellers express interest in destinations inspired by fantasy genres. Additionally, 63% are open to participating in role-play retreats based on their favourite fantasy narratives. This trend underscores a broader movement towards immersive travel experiences that allow individuals to step into the worlds of their favourite stories.

Another significant trend is the evolution of vacation homes into “Humanoid Homes,” where 85% of Singaporeans are open to staying in properties enhanced by robotic technology. This includes features like cleaning bots and robotic chefs, highlighting a shift towards futuristic comfort and convenience.

The report also notes a trend towards “Roadtrip Rewired,” with 87% of Singaporean travellers open to carpooling during vacations, transforming road trips into opportunities for connection and shared experiences.

Anthony Lu, Regional Director of Southeast Asia and China at Booking.com, commented on the findings: “We anticipate travel demand from Singapore travellers to remain robust in 2026, as many seek experiences to pursue their passions and embrace new adventures that resonate with their love for culture, convenience, and innovation.”

As travel becomes more individualised, these trends suggest a future where technology and personal interests converge, offering travellers unique and meaningful experiences.

In a surprising shift within the Singapore stock market, more than 20 stocks outside the top 100 by market capitalisation have emerged as significant players in trading activity this year. These stocks, spanning the Industrials, Technology, and Energy sectors, have collectively achieved an average daily turnover (ADT) of $31.3m (S$42.9m), despite a combined market cap of $5.95b (S$8.15b).

Industrials, Technology, and Energy stocks make up nearly 80% of this group, reflecting global trends such as infrastructure demand, AI adoption, and a pivot towards renewable energy. Notable performers include CNMC Goldmine, Oiltek International, Parkson Retail, and LHN, which have seen substantial increases in trading activity in the second half of 2025 compared to the first half, as well as year-on-year growth.

The list of 22 stocks includes 10 constituents of the FTSE ST Mid & Small Cap Index and seven from the iEdge Next 50 Index. Despite their smaller market caps, these stocks are attracting significant institutional flows, with a net inflow of $96.7m (S$132.35m) recorded in 2025. CSE Global leads with $23.5m (S$32.10m) in net institutional inflow, followed by Geo Energy Resources and Wee Hur Holdings.

This trend highlights the growing interest in smaller-cap stocks, which are increasingly seen as viable investment opportunities. Looking forward, the ability of these sectors to maintain their trading momentum will depend on the resolution of trade policy uncertainties and the potential for new trade agreements, as noted by the International Monetary Fund.

Ubisoft Singapore has upgraded its Studio Blue with Neumann studio monitors, enhancing its audio production capabilities. The studio, now the first in Southeast Asia to be Dolby Atmos-enabled, features eleven Neumann KH 80 DSPs and a KH 810 subwoofer. This setup aims to deliver precision and clarity in sound design, elevating the immersive experience for players worldwide.

The transformation of Studio Blue, previously known as Studio A, marks a significant leap from a traditional 5.1 setup to a Dolby Atmos 7.1.4 configuration. This upgrade allows for more precise sound placement in three-dimensional space, crucial for immersive gameplay. Nicolas Ow, Associate Lead Audio Designer at Ubisoft Singapore, noted, “The jump from 5.1 to Dolby Atmos felt like the natural next step.”

The choice of Neumann monitors was pivotal. Erik-Jon Evangelista, Audio Director at Ubisoft Singapore, explained, “We chose Neumann for its sonic characteristics and consistent sound across the entire range of KH monitors.” This consistency ensures that audio mixes translate reliably across various consumer systems.

Ubisoft Singapore, established in 2008, has been a leader in AAA game development in the region. Known for its expertise in naval gameplay and water technology, the studio continues to push the boundaries of immersive storytelling. With nearly 500 employees, the studio’s commitment to cutting-edge audio technology underscores its role in the global gaming industry.

Forrester has unveiled its first Total Experience Score rankings for Singapore’s financial services sector, highlighting a significant gap between brand promises and customer experiences. The 2025 report shows that whilst Citibank, HSBC, and Raffles Health Insurance excel in their respective sectors, most firms struggle to deliver consistent experiences that foster trust and loyalty.

The Total Experience Score, a composite measure derived from Forrester’s Brand Experience Index and Customer Experience Index, evaluates perceptions formed by both customers and noncustomers through their interactions with a brand. This score is unique in its ability to assess brand impact across the entire customer lifecycle, providing insights for customer experience, marketing, and digital business leaders to pinpoint key drivers of brand and customer experience, trust levers, and influential emotions.

Forrester’s findings indicate that only a few financial services firms in Singapore manage to align their brand promises with the experiences they deliver. This misalignment poses challenges in building long-term customer loyalty. The report underscores the importance of understanding the emotional factors that affect a brand’s ability to attract, retain, and serve customers effectively.

As the financial services landscape in Singapore evolves, firms are urged to focus on bridging the gap between their brand promises and the actual customer experience to maintain competitiveness and foster enduring customer relationships

The latest Digital 2026 report from Meltwater and We Are Social highlights significant milestones in global digital behaviour, with internet users now exceeding 6 billion worldwide. This comprehensive analysis also reveals that social media users constitute nearly 70% of the global population, whilst over 1 billion people engage with AI-powered tools monthly.

The report underscores the rapid evolution of digital landscapes, particularly in Southeast Asia and Singapore. In Singapore, internet adoption is remarkably high, with 98.9% of the population online. The nation ranks 16th globally for ChatGPT usage among individuals aged 16 and above, with 37.1% of Singaporeans using the AI tool, surpassing the global average of 26.5%.

Social media platforms like TikTok and YouTube are widely used in Singapore, with 56.5% and 71.6% of the population engaging with these platforms, respectively. Interestingly, Singaporeans prefer search engines over social media for brand discovery, with 34.2% using search engines compared to 29.5% relying on social media.

Online shopping is prevalent, with 58.8% of Singaporeans making weekly purchases online, indicating a preference for digital over physical retail. Additionally, 63.7% of Singaporeans pay for digital content monthly, slightly below the global average of 67%.

The report also highlights concerns about online misinformation, with 71.1% of Singaporeans expressing worry. These insights provide a detailed view of the shifting digital ecosystem, influencing how businesses and individuals interact online. Country-level reports offering deeper insights into Singapore’s digital trends are expected next month.