Industry News

The Government Land Sales (GLS) site at Telok Blangah Road has garnered significant attention, drawing three bidders, with Kingsford Development submitting the highest bid of $1,326 per square foot per plot ratio (psf ppr). This marks the first private residential site launched in the Greater Southern Waterfront since Harbour View Towers in 1990, and the first in Telok Blangah since The Reef at King’s Dock in 2021.

The high participation level was anticipated due to the site’s substantial quantum, nearing $1b. Mark Yip, CEO of Huttons Asia, highlighted the strategic advantage for developers, noting, “Developers will gain a first-mover advantage in this coveted housing neighbourhood.” The demand for living in the Greater Southern Waterfront is expected to be robust, potentially leading to high take-up rates when the project launches in 2027.

The site is well-connected, with a bus stop at its doorstep and Telok Blangah MRT station less than a five-minute walk away. Major expressways such as the AYE, CTE, and MCE are also nearby, enhancing accessibility. Employment opportunities abound in the vicinity, including Mapletree Business City and the redevelopment of Harbourfront Centre. Additionally, amenities are plentiful, with VivoCity and Alexandra Retail Mall nearby, and Blangah Rise Primary School within 1km.

Looking ahead, the Rest of Central Region (RCR) may face an undersupply of new homes by 2027, with an estimated 2,340 units available, a 51% decrease from the 4,772 units projected for 2025. This potential shortage underscores the strategic importance of the Telok Blangah site for developers and future residents alike.

Criteo, a global platform connecting the commerce ecosystem, has released its Q4 2024 Double Date Shopping Review, highlighting the significant impact of double-day sales events in Southeast Asia. The report reveals that events like 10.10, 11.11, and 12.12 have driven substantial growth, with revenue up 9.6%, transactions increasing by 6.5%, and traffic rising by 6.4% year-on-year. These findings underscore the importance of these events as a strategic opportunity for brands to acquire new customers.

The data shows that Singles’ Day was the standout event, boosting revenue by 172%, sales by 132%, and traffic by 48% over baseline performance. This event alone drove a 98% increase in new buyer acquisitions, outperforming other double-day events and Western sales days like Black Friday. Sukesh Singh, Managing Director (SEA) at Criteo, noted, “The impressive performance of Q4 double days across Southeast Asia underscores its growing significance in the regional retail calendar.”

Key categories such as Health and Beauty, Baby and Toddler, and Apparel and Accessories saw the most significant growth. In particular, Health and Beauty led the charge, with sales peaking at 311% during Singles’ Day. The report suggests that retailers should tailor their marketing strategies to local market preferences to maximise sales impact.

Looking ahead to 2025, Criteo advises brands to plan early for these events, focus on increasing basket sizes through strategic merchandising, and tailor campaigns to specific market trends. These strategies are expected to help brands capitalise on the growing consumer engagement during these peak shopping periods.

Singaporean consumers are leading the Asia Pacific & Japan region in digital impatience, according to a new study by Twilio. The research highlights that Singapore’s advanced digital maturity has heightened consumer expectations for swift, human-led digital experiences. The study, titled “Decoding Digital Patience: Are Asia Pacific’s Digital Users Losing Their Cool?”, reveals that 54% of Singapore consumers are less tolerant when interacting with AI, the highest in the region.

The findings indicate a strong preference for human-led support, with 46% of Singaporeans opting to start directly with a human agent, even if it takes longer. This preference underscores the importance of human interaction for complex or high-stakes issues. Consumers are most patient in high-stakes interactions, such as healthcare, but grow impatient with less critical issues like retail and tech.

Twilio’s Vice President for APJ Communications, Robert Woolfrey, emphasised the need for brands to design AI experiences that combine speed with empathy and clarity. “Speed alone doesn’t earn patience. AI can deliver efficiency, but if it fails to understand customers, provide clear guidance, or allow easy human escalation, it risks frustrating rather than delighting them,” he stated.

The study also found that whilst 62% of Singapore consumers are willing to accept delays for enhanced security, only 43% are willing to pay extra for it. This suggests that in mature markets like Singapore, top-tier service and security are seen as baseline expectations rather than premium features. As AI continues to shape customer service, brands are urged to balance speed with human empathy to maintain consumer satisfaction.

Luxury home sales in Singapore’s Core Central Region (CCR) have soared by over 20% in the third quarter of 2025, according to the latest report by OrangeTee, part of the Realion Group. The increase is attributed to a strong demand from affluent Singaporeans, who accounted for 76% of the purchases, reflecting their growing affluence and interest in high-end real estate as investment assets.

The report highlights that 171 luxury homes, each priced at a minimum of S$5m, were transacted in Q3 2025. This marks a significant rise from the 143 and 141 units sold in the first and second quarters, respectively. Both new and resale luxury homes contributed to this growth, with new launches such as UpperHouse at Orchard Boulevard and The Robertson Opus boosting sales.

The priciest transaction recorded was a unit at The Marq on Paterson Hill, sold for S$6,274 per square foot in September 2025, making it the third-highest priced unit on record. Additionally, the demand for ultra-luxury flats, priced at S$10m or more, saw a slight uptick, with 15 units sold in the quarter.

The report also notes a dip in Good Class Bungalow (GCB) transactions, with seven recorded in Q3 2025, down from nine in the previous quarter. However, the average land rate for GCBs rebounded to S$2,215 per square foot.

Looking ahead, OrangeTee anticipates continued demand for luxury homes, driven by new project launches and potential interest rate cuts, which could further stimulate the market. The prevailing Additional Buyer’s Stamp Duty rates are expected to maintain local demand as the primary driver of the luxury market.

Taobao Singapore has unveiled its new affiliate programme, Taobao Affiliates, coinciding with the 11.11 Global Shopping Festival. This initiative enables registered users to earn up to 30% commission by sharing product referrals. The programme, available on both Chinese and English-language interfaces, is open to all Singapore users with a valid social media account.

Jean Zhao, Country Head of Taobao Singapore, expressed enthusiasm about the launch, stating, “Our 11.11 festival has always been about connecting with our consumers to deliver and share lifestyle experiences that transcend the online space.” She highlighted Singapore as a key market and expressed excitement for future developments.

In addition to the affiliate programme, Taobao Singapore has expanded its product categories, reflecting local demand and customer insights. The platform now offers over 100 million products, with special focus on five top-selling categories: fashion, home and furniture, emerging hobbies and niche interests, electronics and appliances, and quirky knick-knacks.

To enhance the shopping experience, Taobao Singapore is offering a range of promotions until 14 November. These include sitewide discounts of up to 15%, free shipping vouchers, and cashback offers. The 88VIP membership, previously exclusive to China, is now available to Singapore users, providing additional benefits.

The Chelsea Clinic, a prominent name in aesthetic medicine and part of SBC Medical Group Holdings, has relocated to a new flagship facility at Ngee Ann City, Singapore. This expansion, announced on 4 November 2025, aims to enhance patient experience and reinforce Singapore’s position as a hub for aesthetic medicine. The opening ceremony was attended by Toru Hotta, Deputy Chief of Mission at the Embassy of Japan in Singapore, who participated in the ribbon-cutting event.

Founded in 1999 by Ewen Chee, The Chelsea Clinic has been a pioneer in aesthetic medicine, offering medically supervised procedures for skin health and rejuvenation. The new facility consolidates the clinic, spa, and corporate headquarters under one roof, featuring 16 rooms, including 12 clinic rooms and four spa rooms. This expansion is designed to improve privacy, comfort, and efficiency for patients.

The clinic’s relocation not only increases space but also enhances operational integration and patient services. With dedicated consultation rooms and expanded waiting lounges, the facility promises a more personalised environment. The clinic has also strengthened its Japanese-language support, offering multiple reservation channels and a Japanese-speaking staff member to assist patients.

Ewen Chee, Founder and Medical Director of The Chelsea Clinic, stated, “Our relocation to Ngee Ann City reflects our commitment to providing a more elevated and seamless patient journey.” This move is part of SBC Medical’s broader strategy to expand its presence in Asia and deliver high-quality medical services.

Singapore Gulf Bank (SGB) has announced its collaboration with Fireblocks to bolster its digital asset infrastructure. This partnership will enable SGB, a digital wholesale bank regulated by the Central Bank of Bahrain, to enhance its treasury management and digital asset custody. By integrating Fireblocks’ secure platform, SGB aims to streamline operations and optimise liquidity across various accounts and venues.

Founded by Whampoa Group and backed by Bahrain’s Mumtalakat, SGB bridges traditional financial services with the digital asset economy. The bank sought a reliable infrastructure provider to meet stringent regulatory standards whilst expanding its digital asset capabilities. Fireblocks’ platform, known for its Multi-Party Computation (MPC) cryptography, offers multi-layered security against attacks and human error, allowing SGB to scale its operations securely.

Shawn Chan, CEO of SGB, stated, “We exist to make regulated banking work for the digital asset economy. By using Fireblocks, we’re able to automate processes, reduce operational risk, and most importantly offer clients faster, safer access to digital asset services.”

The integration also grants SGB access to the Fireblocks Network, a leading digital asset network trusted by over 2,400 fintechs and financial institutions. This network facilitates secure stablecoin payments and efficient crypto trading, enhancing SGB’s connectivity and service offerings.

This development follows the launch of SGB Net in May 2025, a multi-currency clearing network designed for digital asset firms. Together, Fireblocks and SGB are creating a more integrated financial network, enabling institutions to access digital assets with improved security and efficiency.

The Singapore National Employers Federation (SNEF) marked its 45th anniversary with the SNEF45 Employers’ Summit, unveiling two initiatives to aid employers in navigating workplace transformation. The summit, themed “Forging the Future of Work Together,” highlighted SNEF’s ongoing commitment to progressive employment practices. The event, attended by over 300 guests, including Deputy Prime Minister Gan Kim Yong, introduced the SNEF Advisory, Resource, and Consultancy Centre (ARCC) and the SNEF Research Advisory Panel (RAP).

SNEF has been instrumental in shaping Singapore’s labour landscape over the past 45 years, advocating for balanced solutions that benefit both employers and employees. SNEF President Tan Hee Teck emphasised the importance of continued engagement with members to navigate new realities in a fast-evolving world.

The ARCC aims to be a comprehensive resource hub, offering advisory, consultancy, and resource services to support workforce transformation. It will utilise GenAI-powered tools, such as an AI Chatbot, to streamline services and empower employers with self-help resources.

The RAP, comprising five distinguished academics, will guide SNEF’s research agenda, providing data-driven insights to champion employers’ interests. This panel will focus on identifying future workforce trends and ensuring research rigour.

The summit also featured a keynote address by Dr He Zhengyu of Ant Group and a panel discussion on integrating AI into workflows to boost growth and productivity. These initiatives underscore SNEF’s role in supporting employers through transformative changes in the workplace.

Rolo Robotics, a Singapore-based food robotics company, has raised US$3.45m in an oversubscribed seed round led by BEENEXT, with contributions from A2D Ventures, Seedstars, TIS Japan, Blueprint Ventures, SUTD Ventures, Antler, and Lotus One Investment. This funding will accelerate the deployment of Rolo’s fully autonomous micro-kitchens, which operate without on-site staff and offer 24/7 remote operability.

The company’s flagship product, MAYA 3.0, integrates robotic arms, multi-appliance coordination, and real-time heat control, all managed by the ChefOS orchestration software. These micro-kitchens are already operational in high-footfall areas across Singapore, such as campuses and transit hubs, where traditional food and beverage (F&B) services struggle to maintain profitability.

Rolo Robotics plans to expand internationally, with its first rollout in Australia scheduled for 2026. The company aims to establish 20–30 autonomous micro-kitchens in Singapore by 2026, creating a connected network of robotic kitchens. These kiosks are designed to be modular and white-label-ready, allowing quick-service restaurants (QSRs) to open new locations without the need for traditional kitchen infrastructure.

Ankit Upadhyay, General Partner at A2D Ventures, highlighted the challenges of the food robotics sector, stating, “Rolo has solved the hard engineering problems most only prototype. They’re not just building kiosks—they’re building food infrastructure.”

Co-founder and CEO Ravi Nahappan expressed confidence in the future of human-robot collaboration in food service, emphasising the potential for affordable, customisable, and fresh food offerings. The new funding will support Rolo’s expansion in Singapore and Australia, enhancing its technology and engineering capabilities.

KPay, a leading fintech company serving over 72,000 merchants in Australia, Hong Kong, Japan, and Singapore, has chosen Flagright to enhance its payment security. The collaboration will see KPay utilise Flagright’s AI-native, no-code platform for real-time transaction monitoring and anti-money laundering (AML) compliance, aiming to bolster financial crime controls across the Asia-Pacific region.

Flagright’s platform offers risk-based rules and AI forensics, enabling KPay to reconstruct complex transaction trails and expedite investigations. Alan Wong, Director of Risk and Compliance at KPay, highlighted the need for “speed, accuracy, and auditability,” stating that Flagright allows them to “configure rules quickly, automate customer risk profiles, and streamline investigations.”

KPay provides a comprehensive suite of payment services, including smart POS, QR payments, and a business account for small and medium enterprises (SMEs), which supports express T+0 settlement and rapid cross-border transfers. Richard Wong, Co-founder and Global Head of Partnerships at KPay, emphasised the company’s mission to offer a “seamless and secure path to grow” for merchants, with Flagright’s platform providing the necessary clarity and control.

Flagright’s CEO, Baran Ozkan, expressed excitement about supporting KPay, noting that the partnership will “safeguard every transaction with modern, efficient financial crime controls.” The integration is expected to help KPay detect risks before they escalate, ensuring robust security for its extensive merchant network.

This partnership follows KPay’s record-breaking $55m Series A funding round in 2024, marking the largest in the payments sector that year.