Industry News

The first half of 2026 saw a decline in transaction activity within Singapore’s strata commercial market, yet prices remained robust, according to Knight Frank Singapore. Executive Director of Capital Markets, Mary Sai, noted that despite eased transaction activity, strata commercial properties continue to be an attractive option for buyers amidst high office and retail rents.

In H1 2026, 136 strata office transactions were recorded, totalling S$352.1m in sales. This marked a decrease from 163 transactions in H2 2025, but the average price per square foot (psf) rose by 11.3% to S$2,476. The Downtown Core Planning Area led demand with 49 units sold for S$187.5m. Notably, the Kallang Planning Area experienced a surge in activity, reflecting growing confidence in its commercial prospects.

Freehold strata office sales saw a significant increase, with 46 units sold for S$124.9 million, a 72.6% rise from H2 2025. Conversely, leasehold sales declined by 19.8% to S$227.2m, although the average price per unit increased slightly.

The strata retail market experienced a 27% drop in transactions to 135 deals, with total sales value falling to S$336.1 million. Despite this, the market remains supported by larger price quantum transactions. Freehold retail sales dropped significantly, whilst leasehold sales maintained stability in total value.

Looking ahead, Knight Frank suggests that realistic pricing could stimulate market activity, particularly in city-fringe and decentralised office assets. The strata retail market may also appeal to owner-occupiers seeking certainty over occupancy costs amidst rising rents.

Food Empire Holdings Limited has announced record-breaking results for the first half of 2026, with revenue reaching $315.1m, a 15% increase from the same period in 2025. The company’s net profit after tax also rose by 12.2% to $35.3m, showcasing the resilience of its diversified international operations amidst geopolitical volatility.

The company’s performance was bolstered by significant growth in its Russia and Central Asia segments. In Russia, revenue surged by 24.6% to $103.2m, driven by effective promotional campaigns and a stronger Russian Rouble. Central Asia saw the most substantial growth, with revenue increasing by 33.6% to $60.5m, thanks to robust sales in Kazakhstan, Uzbekistan, and Turkmenistan.

Sudeep Nair, CEO of Food Empire, highlighted the company’s strategic investments in brand building and capacity expansion as key factors in their success. “Our first-half performance reflects the strength of Food Empire’s diversified footprint and the resilience of our brands and business model across core markets,” he stated.

In recognition of its strong performance, Food Empire declared an interim dividend of 4.0 cents per ordinary share, up from 3.0 cents in the previous year. The company remains optimistic about its future, with plans to expand its coffee manufacturing facilities in India, and Vietnam, aiming to sustain its growth trajectory and deliver strong returns for shareholders.

Lam Research, a global leader in semiconductor fabrication equipment, has announced plans to expand its Singapore workforce by approximately 200 roles this year. Nearly 90% of these positions will be in specialised engineering and technical fields, reflecting the growing demand for advanced semiconductor technologies driven by artificial intelligence (AI).

The expansion aligns with the increasing global demand for sophisticated chip architectures, as the semiconductor industry is projected to surpass $1 trillion (US$1 trillion) in revenue by 2026. Lam Research’s new roles will focus on cutting-edge areas such as high-bandwidth memory, 2.5D and 3D integration, silicon photonics, and co-packaged optics, which are essential for next-generation AI and high-performance computing.

Andrew Goh, Corporate Vice President and General Manager for Southeast Asia at Lam Research, emphasised the importance of investing in local talent: “By expanding our local footprint, we are investing in the people who will drive the next generation of chipmaking, whilst strengthening the specialised talent pipeline to sustain Singapore’s leadership in semiconductor innovation.”

Lam Research’s commitment extends beyond workforce expansion, as it collaborates with local institutions like Nanyang Technological University and the National University of Singapore to nurture future semiconductor talent. This initiative supports Singapore’s ambition to remain a leading semiconductor hub, producing one in ten of the world’s chips.

The company’s recognition as one of Singapore’s Best Employers for the second consecutive year highlights its dedication to fostering a skilled workforce. As the semiconductor sector evolves, Lam Research continues to enhance its partnerships across industry and academia, reinforcing Singapore’s position in the global semiconductor landscape.

Digital Core REIT has announced a strategic transaction to enter the Singapore market and expand its presence in Japan, whilst reducing its North American asset concentration. The REIT will sell interests in three North American data centres, generating approximately $316m in gross proceeds. These funds will be redeployed to acquire a 2.5% interest in 11 Loyang Close, Singapore, and an additional 25% interest in Digital Osaka 3, Japan, increasing its stake in the latter to 45%.

The transaction is expected to deliver a 4.1% increase in Distribution Per Unit (DPU) and reduce aggregate leverage by nearly 300 basis points, from 39.2% to 36.3%. The move will also double Digital Core REIT’s concentration in the Asia Pacific region. The net proceeds of approximately $140m will be used to pay down $117m in debt and repurchase up to $20m in units.

Gregory S. Wright, Chief Investment Officer of Digital Realty, stated, “With this transaction, we expect to tactically enhance Digital Core REIT’s portfolio mix, leverage and distribution per unit.” John J. Stewart, CEO of Digital Core REIT Management, added, “This transaction marks our entry into Singapore and strengthens our presence in Japan – a pivotal step in our strategy to expand in the Asia Pacific region.”

The transaction is subject to customary closing conditions, including unitholder approval, and is anticipated to close by the end of the year. This strategic shift aims to position Digital Core REIT for future growth opportunities in the data centre sector.

ComfortDelGro has announced the launch of CDG Energy, marking a significant evolution in its energy management business. This development follows the acquisition of the remaining stake in its former joint venture, ComfortDelGro ENGIE. CDG Energy aims to broaden its focus beyond electric vehicle (EV) charging to include fleet electrification and smart energy management, reflecting the growing interconnection between mobility and energy.

CDG Energy, formerly known as ComfortDelGro ENGIE, has been instrumental in supporting EV adoption in Singapore. It operates one of the region’s leading EV charging networks, with 2,600 charging points across 800 locations in Singapore and Malaysia. As EV adoption accelerates, the company plans further expansion of its charging infrastructure.

General Manager of CDG Energy, Yeo Woo Yee, stated, “The launch of CDG Energy reflects how our business has evolved and where we are headed. Whilst EV charging remains a core part of our business, our customers increasingly require integrated solutions that support fleet electrification, energy optimisation and infrastructure planning.”

Managing Director and Group CEO of ComfortDelGro, Cheng Siak Kian, added, “As mobility and energy become increasingly interconnected through vehicle electrification, CDG Energy represents a natural extension of ComfortDelGro’s broader mobility ecosystem.”

The new identity of CDG Energy is symbolised by a logo designed around the concept of continuous energy, featuring a “C” ring and an orbiting dot, representing energy in motion. The rebranding will be reflected across all digital and physical assets by the end of August 2026.

More than half of Housing Development Board (HDB) flat owners in Singapore aspire to upgrade to private housing, but budget constraints are a significant factor shaping their choices. The PropNex HDB Flat Owners Sentiment Survey 2026, which surveyed 1,533 flat owners between February and June, found that 55% wish to upgrade, with 92% setting a budget below $2.5m.

The survey highlighted that the most common budget range was $1m to under $1.5m, chosen by 30.1% of respondents. This was closely followed by the below-$1m range at 29.9%. Only 7.9% of respondents indicated a budget of $2.5m or more. This aligns with Urban Redevelopment Authority (URA) data showing that 62.2% of new non-landed private homes sold in the first half of 2026 were priced below $2.5m.

Respondents’ housing aspirations varied, with 18.3% favouring private condominiums in the Rest of Central Region (RCR), 15.7% in the Outside Central Region (OCR), and 7.2% in the Core Central Region (CCR). Wong Siew Ying, Head of Research and Content at PropNex Realty, noted that the RCR is perceived as balancing convenience and affordability.

Affordability remains a challenge, with 66.3% of respondents citing high home prices as a primary hurdle to upgrading. Despite recent declines in HDB resale prices, two-thirds of respondents do not expect further drops in the next year, indicating confidence in the market. Kelvin Fong, CEO of PropNex Realty, suggested that this confidence could support market activity as buyers perceive stable market fundamentals.

The survey also revealed that 73.9% of respondents are satisfied with their current homes, and location familiarity plays a significant role in future housing choices.

The Life Insurance Association, Singapore (LIA Singapore) has reported that over S$10.6b was disbursed in life and health insurance claims and maturity benefits in the first half of 2026. This includes S$1.14b for critical illness, death, and total permanent disability claims, S$1.45b for individual health policies, and S$8.02b for matured policies, reflecting robust financial planning by policyholders.

The life insurance sector experienced a 21.4% year-on-year increase in total weighted new business premiums, reaching S$3.63b. This growth was driven by a stronger economic climate, with investment-linked policies (ILPs) and participating policies seeing significant uptake. ILPs, offering both insurance protection and market-linked returns, saw a 24.2% rise in premiums, whilst participating policies increased by 25.4%.

Health insurance coverage remained stable, with 3 million Singapore residents—approximately 70%—covered by Integrated Shield Plans (IPs). In Q2 2026, around 77,000 IP rider policies were adopted, indicating a continued emphasis on comprehensive healthcare protection.

Advisory-led channels were pivotal, with Financial Adviser Representatives and Tied Representatives accounting for 79.4% of new policies. The former saw a 35.9% increase in new business premiums, highlighting the importance of personalised financial advice.

LIA Singapore President Wong Sze Keed noted, “The stronger economic environment in the first half of 2026 may give many Singaporeans greater confidence to take a longer-term view of their financial resilience by investing for their future.” The industry anticipates continued growth as Singaporeans focus on both protection and wealth management needs.

CBRE has announced the sale of a unique portfolio comprising four HDB shophouse units located in the prime areas of Bras Basah and Lavender, Singapore. The sale, managed exclusively by CBRE, will be conducted via an Expression of Interest exercise, closing on 3 September 2026 at 3pm. Investors have the option to acquire the properties either individually or as a collective portfolio.

The shophouse units, strategically positioned in mature estates, boast a combined strata area of approximately 6,609 square feet and are listed at a total guide price of $13.4 million. Michael Tay, Deputy Managing Director and Head of Capital Markets at CBRE, highlighted the scarcity and appeal of such assets, noting, “There are only about 8,500 privately held HDB shophouses in Singapore, making them a highly sought-after asset class.”

The Bras Basah offering includes two full-commercial units at 231 Bain Street, featuring prominent frontages and steady foot traffic. One unit is currently occupied by a Korean minimart, whilst the other is leased to a language school. Meanwhile, the Lavender offering consists of two adjacent ground-floor units at 803 King George’s Avenue, leased to a café-gallery concept.

Joshua Giam, Director of Capital Markets at CBRE, mentioned the investment potential, stating, “With a palatable quantum starting from $3.6m, investors have the opportunity to enhance returns through rental upside and potential space subdivision.”

The strategic locations and potential for value enhancement are expected to attract significant interest from both individual investors and portfolio buyers.

MoneyMax Financial Services has announced a record profit of S$52.5m for the first half of 2026, marking a significant 77.3% increase compared to the same period last year. The company’s revenue also saw a substantial rise, climbing 34.1% to S$325.7m, driven by robust growth in its core business segments.

The financial services provider has been expanding its presence in Southeast Asia, opening 26 new stores so far this year. It plans to open an additional 10 stores in Singapore and Malaysia by the end of 2026. This expansion is part of MoneyMax’s strategy to enhance its geographical footprint and diversify its revenue streams, which include pawnbroking, retail and trading, and secured lending.

In addition to its financial achievements, MoneyMax declared an interim tax-exempt dividend of 0.25 Singapore cent per share. The company also highlighted its strategic focus on digitalisation and customer experience, with enhancements to its online apps and the expansion of its network of drive-thru pawnshops in Malaysia.

The company’s recent corporate developments include the issuance of a S$30m 3-year Medium Term Note and a successful placement of 53 million new shares, raising S$44.3m. MoneyMax’s shares have also been included under the CPF Investment Scheme – Ordinary Account, reflecting strong investor confidence.

As MoneyMax continues its growth trajectory, it remains committed to innovation and customer-centric strategies, aiming to uplift industry standards and enhance customer experiences.

The National University of Singapore (NUS) and OpenAI have announced an expanded strategic collaboration to integrate AI tools, including ChatGPT and Codex, across the university. This initiative aims to enhance education, research, and administration by providing access to these advanced AI tools for all students, faculty, and staff.

The collaboration responds to a growing interest in AI among Singapore’s university students. A survey commissioned by OpenAI in 2026 revealed that 94% of students use AI several times a week, with 55% using it multiple times a day. Furthermore, 84% believe AI literacy will become as fundamental as digital literacy, and 95% desire more opportunities to use AI in real-world projects.

The partnership will expand AI access through ChatGPT Edu and Codex, ensuring enterprise-level security and controls. It will also introduce advanced AI tools into selected courses to support learning objectives. Additionally, hackathons and build days will be organised to allow students to tackle real-world problems and connect with OpenAI’s global networks.

OpenAI and NUS will explore new research collaborations and support the secure and sustainable adoption of AI across the university. This collaboration aligns with OpenAI’s commitment to developing the next generation of AI talent and strengthening Singapore’s applied AI capabilities.

This initiative marks a significant step in integrating AI into higher education, potentially setting a precedent for other institutions in the region.