Industry News

Brand New Land Group has launched Solstice, a new collection of four freehold terrace houses located at 2, 2A, 2B, and 2C Tan Sim Boh Road in Singapore’s prime District 11. This development marks the 25th heirloom home by the boutique landed property developer, known for creating bespoke premium homes.

Inspired by the solar solstice, the design of the Solstice Residences focuses on light and spatial harmony. Each home is a three-storey, five-bedroom property, featuring a home lift and ranging in land size from 1,969 to 2,787 square feet. The architecture, designed by Tellus Architects + Design, incorporates elements such as floor-to-ceiling heights of approximately 3.2 metres on the ground floor and a strong indoor-outdoor integration.

Alvina Teh, Co-Founder and Managing Director of Brand New Land, stated, “The launch of Solstice is a meaningful milestone for Brand New Land as we mark the 25th home we have launched in Singapore.”

Located within the Chancery Vicinity, Solstice offers proximity to Novena MRT and a range of schools and amenities. The development is designed to provide a sanctuary-like environment, balancing city accessibility with a peaceful residential setting. Each home includes provisions for solar panels and an AI-enabled Smart Home system, reflecting a commitment to sustainable living.

As Brand New Land continues to expand its portfolio, Solstice exemplifies its philosophy of creating homes that enrich lives and foster family connections.

Singapore has been recognised as the leading non-Organisation of Islamic Cooperation (OIC) destination in the Global Muslim Travel Index (GMTI) 2026, released by Mastercard and CrescentRating. The report highlights Singapore’s robust Halal ecosystem, safety standards, and advanced tourism infrastructure as key factors in its top ranking. This comes as 80% of Muslim travellers now utilise artificial intelligence (AI) tools for trip planning, marking a significant shift towards AI-assisted decision-making.

The GMTI 2026 evaluates 150 destinations, accounting for over 98% of global Muslim visitor arrivals, using the ACES framework—Access, Communications, Environment, and Services. The report underscores the importance of digital visibility for destinations, noting that those failing to digitise their Muslim-friendly offerings risk exclusion from AI-driven recommendations.

Aisha Islam, Senior Vice President, Customer Solutions Center, Southeast Asia at Mastercard said “As AI becomes more embedded in travel planning, destinations and businesses need to make trusted information, secure payments and Muslim-friendly services easier to discover and act on. For Southeast Asia, this presents a strong opportunity to strengthen its position as a connected, inclusive and digitally enabled travel corridor.”

The report also identifies a trend towards “home-continent” travel, driven by global volatility. Southeast Asia, with Singapore as a key gateway, has emerged as a significant travel corridor due to its strong connectivity and established Halal ecosystems.

As the Muslim travel market continues to grow, destinations are encouraged to enhance their digital infrastructure to remain competitive. The GMTI 2026 highlights the importance of integrating digital tools like AI chatbots and smart destination management to improve traveller experiences and reduce uncertainty.

Sunway MCL and CSC Land Group have emerged as the highest bidders for the River Valley Green (Parcel C) residential site in Singapore. The joint venture secured the Government Land Sales (GLS) tender with a bid of S$750.6m, equivalent to S$1,730 per square foot per plot ratio. If awarded, the site will be transformed into a premium high-rise development featuring over 500 units across two 36-storey towers.

The site, strategically located next to Great World MRT Station on the Thomson-East Coast Line, offers exceptional connectivity. Residents will have easy access to retail, dining, and lifestyle amenities at Great World, with Orchard Road just one MRT stop away. The Central Business District and Marina Bay are also within close proximity, enhancing the site’s appeal for both leisure and work.

The development aims to cater to young families, professionals, and investors seeking the convenience of city living. It is situated in a strong educational catchment area, with River Valley Primary School adjacent to the site and other reputable schools nearby. This combination of factors makes the location highly attractive for families.

Lee Tong Voon, CEO of Sunway MCL, stated, “The site presents an opportunity to introduce a new residential development in one of Singapore’s most established and sought-after neighbourhoods.” Qian Liang Zhong, Chairman of China Construction (South Pacific) Development Co Pte Ltd, added, “Together, we bring complementary strengths and a shared dedication to this project.”

The development promises long-term growth potential, supported by resilient rental demand and prospects for capital appreciation, making it a compelling investment opportunity.

RHB Bank has maintained its full-year forecast for Singapore’s non-oil domestic exports (NODX) growth at 7.5% for 2026, citing potential upside risks. The bank’s Group Chief Economist and Head of Market Research, Barnabas Gan, highlighted the robust year-to-date growth of 18.1% and the strong performance in the electronics sector as key drivers for this optimistic outlook.

In May, Singapore’s NODX experienced a remarkable 38.4% year-on-year increase, a significant acceleration from the revised 24.4% growth in April. This figure surpassed Bloomberg’s estimate of 30.5% year-on-year growth, indicating a strong upward trend in the nation’s export activities.

Despite the positive outlook, RHB Bank remains cautious about external uncertainties, particularly the potential impact of US Section 301 tariffs on Singapore’s exports. However, Gan expressed confidence that these tariffs would be manageable, maintaining an optimistic view on Singapore’s trade and manufacturing sectors.

The report underscores the importance of monitoring global economic conditions, which could influence Singapore’s trade dynamics. As the year progresses, the bank will continue to assess these external factors and their potential impact on the nation’s economic performance.

Johor is rapidly becoming a key digital infrastructure hub in Southeast Asia, with data centres projected to consume 40% of the state’s electricity demand by 2035, according to a new report by Wood Mackenzie. This surge in demand is expected to significantly impact the region’s power grid, which is already facing constraints in transmission and distribution infrastructure.

The report, titled “Powering Johor’s Data Centre Boom: Supply, Demand, and Grid Constraints,” highlights that whilst power generation is currently sufficient, the availability of transmission and distribution infrastructure is becoming a critical bottleneck. Alvin Tan, a research analyst at Wood Mackenzie, noted, “The issue is increasingly about where power is available rather than whether it is available.”

Johor has attracted MYR165b (US$42b) in investments from technology companies, benefiting from its proximity to Singapore and competitive costs. The state’s data centre load more than doubled between 2024 and 2025, now accounting for 51% of Peninsular Malaysia’s total data centre demand.

Despite having 6.8 GW of installed generation capacity, localised constraints are emerging, particularly around major data centre clusters like Sedenak Tech Park. The report suggests potential solutions such as higher-voltage connections and decentralised solar generation.

Looking ahead, the retirement of 2.1 GW of coal-fired capacity in the mid-2030s and the tightening of reserve margins pose further challenges. The NewGen26 programme, aimed at adding 6 GW to 8 GW of new gas-fired capacity, is seen as crucial for maintaining long-term reliability.

Johor’s supportive policy framework continues to attract investment, but infrastructure planning must keep pace with rapid growth to avoid future limitations.

Singapore’s construction industry is undergoing a significant transformation, focusing on technology consolidation to enhance productivity, according to a new report by Autodesk. The “State of Digital Adoption in the Construction Industry 2026” report, developed with Deloitte, highlights a shift from adopting numerous technologies to streamlining existing tech stacks, reducing the average number of technologies used from 7.3 in 2025 to 6.5 today.

The report reveals that nearly half (47%) of Singapore’s construction workforce engages with sector-specific tools weekly, positioning the country third in the Asia Pacific region, alongside Japan. This trend aligns with a broader regional movement where firms have reduced their median number of data platforms from 11 to 6, paving the way for advanced technologies like artificial intelligence.

However, the industry faces challenges, including a lack of digital skills among employees and decreased budgets for tech investment. These barriers complicate the adoption of digital tools, impacting project delivery timelines. Sumit Oberoi, Senior Manager at Autodesk, emphasised that “the winners won’t be the firms with the most tools, but the ones that connect workflows, trust their data, and scale what works across every project.”

The report also highlights successful local initiatives, such as Straits Construction Singapore’s integration of isolated platforms into a central data environment, and Woh Hup’s deployment of an autonomous tile-grouting robot, which has significantly boosted productivity.

As the Building and Construction Authority mandates the use of Building Information Modelling by late 2026, the focus on data interoperability over sheer software volume is expected to drive the industry’s future growth.

OCBC has introduced a free online tool, OCBC PULSE, designed to help small and medium-sized enterprises (SMEs) evaluate their environmental, social, and governance (ESG) readiness. Available across Singapore, Malaysia, Hong Kong, and Indonesia, the tool aims to assist SMEs in identifying sustainability gaps and offers actionable recommendations for improvement. Large companies can also use the tool to assess the ESG performance of their SME suppliers, fostering better sustainability practices within supply chains.

As sustainability becomes a priority, large companies are increasingly expecting their SME suppliers to adopt sustainable practices. OCBC PULSE provides a straightforward, cost-free method for SMEs to begin their ESG journey and remain competitive. The tool allows SMEs to track their progress over time and aligns with OCBC’s commitment to support the green transition of SMEs by piloting the tool with its own suppliers.

Developed in collaboration with the UN Global Compact Network Singapore, OCBC PULSE is built on Technical Reference 149, a framework by Enterprise Singapore. It enables large companies to onboard their suppliers, who can then complete an ESG assessment. The results, classified into four levels from Starter to Advanced, are instantly available to SMEs, whilst large companies receive a dashboard view of their suppliers’ ESG maturity.

OCBC plans to organise workshops for large companies and SME suppliers to address improvement areas and share best practices. This initiative supports OCBC’s goal to provide sustainable financing to 12,000 SMEs by 2028. Elaine Heng, Head of Global Commercial Banking at OCBC, stated, “OCBC PULSE helps SMEs seize sustainable growth opportunities and stay competitive by meeting evolving requirements.”

Ericsenz Capital has successfully completed Asia’s first physically deliverable Bitcoin Dual-Currency Note (BTC DCN), marking a significant milestone in digital asset investment products. Launched in December 2025 and distributed by SBI Digital Markets, the three-month BTC DCN allowed investors to earn a 20% annualised coupon by committing to purchase Bitcoin at a predetermined strike price below market levels.

The completion of this transaction highlights the growing institutional interest in digital assets, as asset managers, banks, and professional investors increasingly seek investment solutions that blend digital asset exposure with traditional capital market infrastructure. The BTC DCN was designed to bridge the gap between traditional finance and digital assets, offering Bitcoin exposure through a structured investment framework compatible with institutional custody and recognised settlement processes.

Datuk Ashley Choo, CEO of Ericsenz Capital, stated, “The successful completion of this transaction demonstrates that digital asset investment products can be structured, distributed and settled within frameworks compatible with institutional capital markets.” SBI Digital Markets, acting as the distributor, provided access to accredited and institutional investors.

CK Ong, Acting CEO of SBI Digital Markets, noted, “Institutional demand for digital asset investment opportunities continues to develop alongside the broader market infrastructure supporting the sector.”

The transaction involved multiple institutional participants, with Ericsenz Capital as the product designer and SBI Digital Markets as the distributor. The initiative reflects Ericsenz Capital’s strategy to expand its digital asset offerings, integrating digital assets with traditional market infrastructure.

Carousell Autos has launched Singapore’s first AI-powered car finder, transforming how users discover pre-owned cars by allowing them to describe their needs directly. This innovative feature, now live on the Carousell Autos website, replaces traditional dropdown filters with an open text field, enabling a more intuitive search experience.

Traditional car marketplaces in Singapore often require users to filter options by brand, model, or price, which can be limiting for those unsure of their exact needs. The new AI-powered finder addresses this by allowing users to input prompts like “What’s a reliable family SUV under $80,000?” to surface relevant listings. This approach also encourages consideration of practical factors such as maintenance costs and long-term value.

The AI-powered tool is particularly beneficial for first-time buyers or those unfamiliar with specific automotive terms, as it matches listings based on user preferences rather than strict keyword relevance. This not only aids buyers but also enhances lead quality for dealers and sellers by connecting them with more interested buyers.

Sanjay Shivkumar, Head of Carousell Autos, stated, “Buying a car is a major decision, but the online search experience can often feel overly technical. With this AI-powered car finder, we hope to help Singaporeans make more confident and informed decisions.”

To celebrate the launch, Carousell Autos is running a 6.6 Deals campaign throughout June 2026. Buyers purchasing a pre-owned car tagged “6.6 Fuel Deal” will receive $100 in Shell petrol vouchers, whilst stocks last.

The Supreme Court of Singapore and the Supreme People’s Court of Vietnam have signed a Memorandum of Understanding (MOU) to enhance judicial cooperation. The agreement, signed on 29 May 2026, focuses on developing a specialised international commercial court within the Vietnam International Financial Centres.

The MOU establishes a framework for collaboration, including the exchange of knowledge on international commercial dispute resolution, judicial training, and sharing best practices on court processes. Justice Ang Cheng Hock of the Supreme Court of Singapore and Deputy Chief Justice Le Tien of the Supreme People’s Court of Vietnam formalised the agreement.

This initiative underscores Singapore’s commitment to supporting Vietnam’s ambition to create a world-class international financial centre. It also reflects the strong bilateral relationship between the two nations and their shared dedication to developing a robust legal infrastructure for international commerce in the region.

The MOU is expected to facilitate the growth of Vietnam’s financial sector by providing a reliable legal framework, thereby attracting more international business and investment. This collaboration highlights the importance of judicial cooperation in fostering economic development and stability in Southeast Asia.