Industry News

Wee Hur Holdings, through its subsidiary Wee Hur Property Pte Ltd, in partnership with GSC Holdings Pte Ltd, has successfully secured the tender for a land parcel at Upper Thomson Road (Parcel A). The Urban Redevelopment Authority awarded the tender on 31 October 2025, with a sale price of S$613.939m for a 99-year lease term.

The partners plan to establish joint venture companies in Singapore to acquire and develop the site. The proposed development will feature residential units complemented by commercial components, enhancing the area’s urban landscape. This strategic acquisition aligns with Wee Hur Holdings’ ongoing expansion in Singapore’s property market.

The development is expected to contribute significantly to the local real estate sector, providing new housing and commercial opportunities in a prime location. The project underscores Wee Hur Holdings’ commitment to delivering quality developments that meet the evolving needs of Singapore’s urban environment.

As the project progresses, it will likely attract interest from potential residents and businesses looking to capitalise on the strategic location and modern amenities. The successful tender marks a notable achievement for Wee Hur Holdings and its partners, reinforcing their presence in Singapore’s competitive property market.

FairPrice Group’s philanthropic arm, FairPrice Foundation, has signed a Memorandum of Understanding with Tan Tock Seng Hospital to tackle the nutrition gap among seniors in Singapore. The partnership aims to develop a gamified nutrition education programme, “Stay Strong,” to be rolled out nationwide by the end of 2026. This initiative aligns with the national push for senior health and independence, ensuring seniors have the support needed to thrive.

The collaboration will also explore joint development of nutritional solutions to combat dietary deficiencies, informed by the Stay Strong study conducted in Q3 2025. The study surveyed over 500 seniors and revealed significant gaps in nutrition knowledge and access. Notably, whilst 86% of seniors acknowledge the need for better nutrition as they age, more than half struggle to identify what constitutes a healthy meal. Additionally, 67% recognise the need for more protein, yet half do not meet the recommended intake.

Vipul Chawla, Group CEO of FairPrice Group, emphasised the importance of supporting seniors’ independence through proper nutrition. Adjunct Professor Tang Kong Choong, CEO of Tan Tock Seng Hospital, highlighted the role of nutrition in improving seniors’ health outcomes and independence.

This partnership is part of FairPrice Foundation’s broader “Start Strong, Stay Strong” vision, which includes initiatives like the Neighbourhood Food Share and the Cheers Breakfast Club. These efforts aim to build resilient communities and provide essential nutrition education and access to Singapore’s senior population.

OCBC has announced the appointment of Melvyn Low as Group Chief Strategy and Transformation Officer, effective 10 November 2025. Low, who has led the Global Transaction Banking division since 2018, will focus on future-proofing OCBC’s businesses and identifying new growth opportunities. With over 30 years of experience in the banking sector, Low has a proven track record in innovation and transformation, particularly in technology and data utilisation.

Under Low’s leadership, the Global Transaction Banking division has seen its total income double over the past five years. The division also surpassed its regional target in Greater China, achieving nearly 600 mandates by June 2025, two years ahead of schedule. Low has been instrumental in launching several digital solutions, including a virtual purchasing card and GovCash, which allows Singaporeans to collect government payments via OCBC ATMs without a bank account.

Low’s influence extends beyond OCBC, having led the development of the PayNow-PromptPay linkage between Singapore and Thailand in 2021. This system enables daily fund transfers of up to $1,000 or 25,000 baht (S$1,060) between the two countries using mobile phones. Recognised for his contributions, Low was named an IBF Distinguished Fellow and holds positions on various industry committees.

Helen Wong, OCBC’s Group CEO, praised Low’s “solid track record in innovation and transformation,” highlighting his suitability for the new role. Low’s appointment underscores OCBC’s commitment to leveraging internal talent for strategic roles.

Retail sales in Singapore experienced a 2.8% increase in September 2025 compared to the same month last year, according to the latest data from the Singapore Department of Statistics. When excluding motor vehicles, the rise in retail sales was slightly lower at 2.0%. In contrast, the food and beverage services sector saw a decline of 1.6% over the same period.

The increase in retail sales suggests a positive trend for the sector, reflecting consumer confidence and spending. However, the decline in food and beverage services indicates challenges that the sector continues to face, possibly due to changing consumer habits or economic factors.

The data provides a snapshot of the economic landscape in Singapore, highlighting areas of growth and concern. The retail sector’s growth is a positive sign for businesses, suggesting a recovery or stabilisation in consumer spending patterns. Meanwhile, the food and beverage sector may need to adapt strategies to address the decline in sales.

Amazon Singapore is set to transform the Suntec City Atrium into a vibrant, interactive gift discovery space for one weekend only, from 22 to 23 November. The Amazon Holiday Giftorium, inspired by Amazon.sg, promises to bring the joy of gifting to life just in time for Black Friday. Visitors can explore themed rooms, take a personality quiz to discover their gifting style, and enjoy a playful slide into a colourful ball pit.

The initiative follows a YouGov survey commissioned by Amazon Singapore, revealing that 36% of Singaporeans spend the most time selecting gifts for their partners, with friends and children following at 22% and 19%, respectively. The Giftorium aims to simplify this process by offering a curated selection of gifts across categories like Toys, Electronics, and Home essentials.

Participants will begin their journey with a quiz to identify their gift-giving persona, such as a “Mood Gifter” or “Convenience Champion.” Armed with the Amazon app, they will navigate through themed rooms filled with potential gifts, offering social-media-friendly moments and the chance to test new gadgets and beauty products. Upon completing the experience, visitors can claim a limited-edition Amazon.sg plushie charm and a curated goodie bag.

The event coincides with Amazon Singapore’s 12-day Black Friday Sale, running from 20 November to 1 December, featuring deals from brands like Dyson, LEGO, and Sennheiser. This initiative not only enhances the shopping experience but also provides a unique way to engage with Amazon’s offerings during the holiday season.

Raffles City Singapore is set to captivate visitors with its ‘Dreams of Wonder’ festive campaign, running from 6 November to 31 December 2025. This initiative transforms the mall into a multi-sensory wonderland, featuring immersive installations and exclusive collaborations designed to inspire and ignite the imagination. A highlight of the event is the collaboration with Parfums Christian Dior, which brings the ‘Circus of Dreams’ to life with three captivating installations.

The ‘Circus of Dreams’ pays homage to Monsieur Dior’s love for the circus, offering shoppers a unique journey through installations at Level 1, including a Christmas centrepiece at Art Square, a beauty pop-up at Stamford Square, and a showcase at Fashion Walkway. These installations aim to blend luxury and playfulness, creating an enchanting atmosphere.

Beyond the Dior experience, ‘Dreams of Wonder’ extends across Raffles City’s fashion, lifestyle, and dining outlets. Visitors can enjoy festive experiences, limited-edition collections, and gourmet treats, all designed to rediscover the joy of Christmas. The campaign promises to redefine festive celebrations with modern artistry and high design, moving away from traditional holiday motifs.

Raffles City’s festive offerings provide a unique opportunity for shoppers to explore curated experiences and luxury products, ensuring a memorable holiday season. As the style and cultural epicentre of Singapore, Raffles City invites everyone to embrace the festive spirit through style, savour, and sound.

L’Amo Bistrò del Mare, an acclaimed Italian coastal restaurant from Dubai, has launched its first international branch at METT Singapore, located in Fort Canning Park. Known for its prestigious accolades, including the Due Forchette by Gambero Rosso, the restaurant brings the essence of the Mediterranean to Singapore, blending traditional Italian cuisine with modern sophistication.

The menu, crafted by Chef Daniele Sperindio, Director of Culinary and F&B at METT Singapore, celebrates the flavours of the Italian coast. Highlights include Le Tre Tartare, featuring sea bass, tuna belly, and Sicilian red prawns, and the signature Spaghettone Cacio & Pepe, enhanced with Japanese uni. The restaurant also offers a selection of seafood dishes, such as the Neapolitan Impepata di Cozze and Catalana dell’Amo, alongside charcoal-grilled lamb chops.

Desserts include Italian classics like Profiteroles and Cannoli Siciliani, whilst a curated cocktail menu complements the dining experience. The restaurant’s interior, inspired by a Mediterranean harbour, offers a relaxed yet sophisticated atmosphere, with live music enhancing the evening ambience.

L’Amo Bistrò del Mare is part of METT Singapore’s dining collection, embodying a spirit of relaxed luxury. Reservations are now open for those wishing to experience this new culinary destination.

Changi Airport and Jewel Changi Airport have launched a Disney-themed extravaganza to celebrate the year-end festive season, inviting visitors to explore Disney’s beloved stories and characters. Starting today, the festivities will span across multiple terminals and Jewel, featuring a new Light & Music Showcase at Jewel’s Rain Vortex inspired by Disney Cruise Line. The 3.5-minute show, titled ‘The Magic of Adventure’, will highlight seven themed areas from the Disney Adventure.

Visitors can enjoy magical displays at Terminal 3, including a 6.5-metre ship installation featuring Captain Mickey Mouse and Captain Minnie Mouse. Photo opportunities abound with themed pop-ups inspired by Disney, Pixar, and Marvel stories. The celebrations also include meet-and-greet sessions with Disney Cruise Line characters and daily snow shows transforming Terminal 3 into a winter wonderland.

Additional attractions include topiaries of characters like Baymax and Duffy the Disney Bear across the terminals. At Terminal 3 Basement 2, visitors can dive into a Disney Discovery Reef-inspired underwater world and participate in DIY activities to decorate Disney-themed items. A Disney-themed carnival at Terminal 3 offers games and claw machines, with tokens available for purchase.

Jewel features a 16-metre Disney Cruise Line-themed Christmas tree and topiary sculptures of Captain Mickey and Captain Minnie. Canopy Park hosts three Disney Adventure-themed zones, including Toy Story and Disney princess installations. Exclusive Disney Cruise Line collectibles are available for purchase with qualifying spends at Changi Airport and Jewel until 4 January 2026.

CapitaLand Investment Limited (CLI) has successfully closed its CapitaLand Ascott Residence Asia Fund II (CLARA II), raising over US$650m in equity commitments, surpassing its initial target of US$600m. This achievement highlights strong investor confidence in the living and lodging sector, particularly in Asia Pacific, and CLI’s expertise in this field.

CLARA II will contribute approximately US$1.6 billion to CLI’s total funds under management. The fund has attracted a diverse range of global investors, including institutional investors, pension funds, and financial institutions from Asia, Europe, and North America. CLI has committed a 20% sponsor stake to ensure alignment with its investors.

The fund focuses on transforming underutilised assets into high-performing properties in gateway cities across Asia Pacific. It has already deployed around half of its committed equity into three assets, including properties in Japan and Singapore. Andrew Lim, Group Chief Operating Officer for CLI, noted the growing investor interest in the sector, driven by trends such as increased mobility and demand for flexible living arrangements.

Mak Hoe Kit, Managing Director of Lodging Private Equity Funds at CLI, emphasised the trust investors place in CLI’s capabilities and strategy. He highlighted the company’s track record of successful value-add and exits, which has generated significant returns for capital partners.

As CLI continues to leverage its investment and asset management expertise, it aims to identify and execute opportunities that deliver long-term returns for stakeholders.

HDB resale prices in Singapore experienced a slight decline of 0.6% in October 2025, according to the latest report by 99.co and SRX. The decrease was observed across both Mature Estates and Non-Mature Estates, with prices falling by 0.5% and 0.9%, respectively. However, on a year-on-year basis, prices have risen by 3.8%, indicating a resilient market despite fewer transactions.

The report highlighted that 1,347 HDB resale flats were transacted in October, marking a significant 38.4% drop from September 2025. Year-on-year, the transaction volume was down by 37.6%. The distribution of sales by room type showed that 26.6% were 3-room flats, 45.2% were 4-room, 23.5% were 5-room, and 4.6% were Executive flats. Non-Mature Estates accounted for 55.9% of the transactions.

The highest price recorded for a resale flat in October was $1,134,000 (S$1,550,000) for a 5-room flat at Boon Keng Road. In Non-Mature Estates, the top price was $928,000 (S$1.27m) for an Executive flat in Woodlands Street 82. Additionally, 87 flats were sold for at least $732,000 (S$1m), a decrease from the 172 such transactions in September. These million-dollar flats made up 6.5% of the total resale volume, with Toa Payoh leading the count at 20 units.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted the resilience in prices despite the drop in transaction volumes. The data suggests that whilst fewer transactions occurred, the demand for higher-priced flats remains strong, particularly in specific estates.