Industry News

Savills Singapore has revised its 2026 investment sales forecast upwards to S$55–S$60b, a significant increase from the initial S$35–S$40b projection. This adjustment follows a robust performance in the first half of the year, with investment sales reaching S$15.02b in the second quarter alone, nearly tripling the S$5.95b recorded in the same period last year.

The revision underscores strong investor confidence in Singapore’s real estate market, despite ongoing global economic uncertainties. Factors such as lower borrowing costs, capital awaiting deployment, and active capital recycling by Real Estate Investment Trusts (REITs) have bolstered investment activity. The commercial sector, accounting for 53% of total transaction value in Q2 2026, remains a key driver.

Significant transactions include the S$3.9b acquisition of Paragon and the S$2.48b sale of Asia Square Tower 2. Residential investment sales also saw a notable increase of 18.3% quarter-on-quarter, driven by joint ventures in Government Land Sales (GLS) sites. The S$880m collective sale of Loyang Valley marked the largest private residential sale in nearly four years.

Conversely, industrial investment sales experienced a sharp decline of 85.7% quarter-on-quarter, attributed to a lack of major transactions. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, remarked, “Low borrowing costs, deals in the pipeline, and capital awaiting deployment are setting the conditions for investment sales value to balloon this year.” The momentum from the second half of 2025 is expected to continue throughout 2026.

Frasers Hospitality, a division of Frasers Property, has announced the soft opening of Fraser Residence Wuzhen, marking its first venture into the historic Jiangnan region of China. Situated in the heart of the 1,300-year-old water town, the property offers a blend of modern comfort and traditional charm, just 2.4 kilometres from Wuzhen’s scenic zones.

The new residence features 117 serviced flats, available in one- and two-bedroom configurations, designed for both short and extended stays. Each flat is equipped with a kitchenette, washer dryer, and open living areas. The property also boasts a 24-hour gym, a Residents’ Lounge, meeting spaces, and a Kids’ Playzone. Guests can savour contemporary Jiangnan cuisine at the on-site restaurant, which uses seasonal local ingredients.

Fraser Residence Wuzhen is part of Frasers Hospitality’s broader strategy to expand its presence in Asia, with plans to open 18 new serviced and hotel residences across the region by 2028. Chief Operating Officer Chew Hang Song stated, “Fraser Residence Wuzhen broadens the role our brands can play across China’s evolving hospitality landscape.”

To celebrate the opening, guests booking a stay of two consecutive nights or more before 15 September 2026 can enjoy a 30% discount on the Best Flexible Rate. This new development underscores Frasers Hospitality’s commitment to offering unique experiences in culturally rich destinations.

Huttons Asia has announced that all production units at Generations @ Tannery have been fully sold during its launch. The development’s appeal lies in its rare B1 zoning and freehold tenure, offering potential for capital appreciation and wealth preservation. Falling interest rates, which have decreased by 2.6 percentage points since December 2023, have made ownership more attractive than renting, especially as rents for multi-user factories have risen by nearly 7% over the same period.

The scarcity of B1 zoned industrial land, coupled with the project’s proximity to Mattar MRT Station and the new residential precinct at Mattar, has driven demand. The modern façade of Generations @ Tannery is designed to project a strong corporate image, aiding in talent attraction. The column-free units with a modular grid design allow for flexibility, enabling owners to combine or sublet spaces easily.

Lee Sze Teck, Senior Director of Data Analytics at Huttons, highlighted the robust demand for freehold industrial projects, noting that the proportion of 999-year/freehold multi-user factory units has increased to 16.5% in 2026, up by 4.3 percentage points since 2022. This demand has widened the price gap between freehold and leasehold units to $488 per square foot, compared to $391 in 2020.

Additionally, the industrial canteens at the development were in high demand, with all units sold, as investors recognised the unique investment opportunity in this asset class. The successful launch underscores the strong market interest in strategically located, freehold industrial properties.

Families and tourists in Singapore can now delve into the nation’s rich cultural tapestry through two engaging workshops in Chinatown. Organised by the Chinatown Business Association (CBA), these events aim to provide a hands-on experience of Singapore’s multicultural traditions.

On 18 July 2026, participants can attend the DIY Canvas Bag Workshop, where they will design and personalise reusable canvas bags using vibrant paints. This 90-minute session, priced at S$6 per participant, is suitable for all ages and requires no prior artistic skills, making it an ideal family activity during the school holidays.

The cultural exploration continues on 25 July 2026 with the Traditional Nyonya Kueh Workshop. Attendees will learn to prepare Kueh Koswee and Apom Berkuah, two beloved Peranakan delicacies. Guided by an experienced instructor, this workshop offers beginners an introduction to authentic recipes and the culinary traditions of Singapore’s Peranakan community.

Both workshops will take place at Chinatown Singapore on Smith Street, conveniently located near Chinatown and Maxwell MRT stations. This setting allows visitors to enhance their experience with a stroll through the area’s heritage streets, traditional shops, and local eateries.

Lim Yick Suan, Executive Director of CBA, stated, “These workshops offer international tourists and local Singaporeans an opportunity to create lasting memories whilst connecting with our local Singaporean heritage in a fun and engaging way.”

Advance booking is recommended due to limited spaces. For tickets and more information, visit the ticketing pages on Peatix.

JTC Corporation has awarded the tender for an industrial site at Jalan Buroh to Soilbuild Group Holdings Ltd, following a competitive bidding process. The site was launched for tender on 31 March 2026 and closed on 9 June 2026, attracting three bids in total. Soilbuild Group’s successful bid amounted to S$214m.

The awarded land parcel, located at Jalan Buroh, is zoned for Business 2 use. It spans an area of 31,151.5 square metres and comes with a tenure of 33 years. The site has a gross plot ratio of 2.5, allowing for significant development potential. The project is expected to be completed within 84 months from the award date.

This development is significant as it reflects ongoing interest and investment in Singapore’s industrial sector. The strategic location and zoning of the site make it a valuable asset for Soilbuild Group, which is known for its expertise in constructing and managing business spaces.

The successful bid by Soilbuild Group is expected to contribute positively to the industrial landscape in the area, potentially attracting further business activities and investments.

A recent survey by PropNex Research has shed light on the diverse demographics and motivations of buyers behind 110 million-dollar HDB resale flats transacted in 2025. The survey, involving PropNex salespersons, revealed that these transactions, priced between $1m and $1.659m, cater to a wide range of needs across different age groups.

The findings indicate that younger buyers, aged 30 to 39, often purchase these flats as their first homes, with 40.5% of this group making such a move. In contrast, 46.3% of buyers aged 40 to 49 were upgrading from smaller HDB flats. Notably, 71.4% of buyers aged 60 and above, primarily retirees, opted for these flats as replacement homes after downsizing from private properties.

Kelvin Fong, CEO of PropNex, stated, “There is no shortage of transaction data on million-dollar resale flats, but almost nothing on who bought them or why.” The survey aims to fill this gap by providing ground-level insights into buyer profiles.

The survey also highlighted that a significant majority of buyers, over 69%, did not pay Cash-Over-Valuation (COV) for their purchases, suggesting that the high prices are supported by valuation. Additionally, more than 70% of buyers held professional, managerial, executive, or technical jobs, with a substantial portion earning between $10,001 and $16,000 monthly.

As million-dollar HDB resale flats become more common, understanding the buyer profile offers valuable insights into the evolving dynamics of Singapore’s housing market.

Singapore’s non-oil domestic exports (NODX) increased by 20.7% in June 2026 compared to the same month last year, according to Enterprise Singapore. This growth, although slower than the 38.4% surge in May, was primarily driven by a significant rise in electronic exports, particularly integrated circuits (ICs), disk media products, and personal computers (PCs).

The electronics sector saw a remarkable 105.1% increase in NODX, fuelled by robust demand for artificial intelligence-related products. In contrast, non-electronic exports fell by 2.9%, with notable declines in non-monetary gold, petrochemicals, and food preparations.

Non-oil re-exports (NORX) also experienced substantial growth, expanding by 60.3% in June, up from a 33.5% rise in May. This increase was largely due to a surge in electronic re-exports, which grew by 83.1%, supported by non-electronic re-exports that rose by 28%.

The total merchandise trade for Singapore expanded by 49.3% in June, extending the 39.6% growth observed in May. Both exports and imports contributed to this increase, with non-oil exports rising by 48% and oil exports by 54.5%.

Key markets for Singapore’s exports included Taiwan, the US, and South Korea, all of which saw significant increases in NODX. Taiwan led the growth with a 123.3% rise, driven by ICs and specialised machinery. The US and South Korea followed with increases of 36.7% and 62.9%, respectively, supported by strong demand for disk media products and ICs.

The data highlights the ongoing strength of Singapore’s electronics sector, whilst non-electronics face challenges. The continued expansion of re-exports underscores Singapore’s role as a key trading hub in the region.

Trinasolar, a global leader in smart photovoltaic (PV) and energy storage solutions, has introduced its latest high-power module, the Vertex N G3, to the Singapore market. The module, which is now available for order, boasts an impressive power output of up to 760 watts and an efficiency rate of up to 24.5%, thanks to its advanced n-type i-TOPCon Ultra technology (TOPCon 3.0).

The Vertex N G3 is designed to cater to utility, commercial, and industrial applications, providing a significant boost in energy efficiency and output. This development is particularly relevant as Singapore continues to expand its renewable energy capabilities to meet growing energy demands sustainably.

Trinasolar’s introduction of the Vertex N G3 to Singapore aligns with the country’s ongoing efforts to incorporate more green technology into its energy grid. The module’s high efficiency and power output make it a suitable choice for large-scale energy projects, potentially reducing the reliance on traditional energy sources.

The company has highlighted the module’s potential to transform energy production in Singapore, stating, “The Vertex N G3 represents a leap forward in solar technology, offering unparalleled efficiency and output for diverse applications.”

As Singapore aims to enhance its renewable energy infrastructure, the Vertex N G3 could play a crucial role in supporting these initiatives, paving the way for more sustainable energy solutions in the region.

Frasers Property Limited has announced that Reini Otter will step down as CEO of Frasers Property Industrial on 17 December 2026 to pursue a new career opportunity. Ian Barter, currently the Managing Director for Australia, will assume leadership responsibilities for both Australia and Europe starting 1 August 2026, until a new CEO is appointed.

Barter, who joined Frasers Property in 2005, brings over 25 years of experience in industrial and commercial property. He will report to the Frasers Property Industrial Executive Committee and directly to the Exco Deputy Chair, Rod Fehring. Fehring, a former CEO of Frasers Property Australia, has been instrumental in the company’s management committee.

Otter has been with Frasers Property for 28 years, including seven years as CEO of Frasers Property Industrial. Under his leadership, the company expanded its industrial and logistics business in Australia and Europe. “It has been a privilege to lead Frasers Property Industrial,” Otter remarked, expressing confidence in the team’s future success.

Group CEO Panote Sirivadhanabhakdi praised Otter’s contributions and expressed confidence in Barter and the management team. “Our strategy is unchanged, and our focus on delivering for our customers and stakeholders continues,” he stated.

The Frasers Property Board has initiated the process to appoint a permanent CEO and will provide updates in due course.

Rental prices for both condominiums and Housing Development Board (HDB) flats in Singapore saw an uptick in June 2026, as reported by 99.co and SRX. Condo rents increased by 0.3% month-on-month, recovering from a 0.6% decline in May. This rise is part of a broader trend of stabilisation, with year-on-year growth reaching 2.4%.

The report highlights a significant increase in rental transaction volumes, suggesting that the private rental market is accommodating a larger number of available homes, including newly completed units. This influx of supply has bolstered rental activity without causing a sharp rise in prices. “The increase in available housing is helping to keep price growth restrained,” noted Luqman Hakim, Chief Data & Analytics Officer at 99.co.

In the condo market, rental volumes surged by 19% month-on-month, with 6,973 units rented in June compared to 5,858 in May. Year-on-year, rental volumes were up by 4.3% and exceeded the five-year average for June by 10.1%. Regionally, 38% of the rental volume came from the Outside Central Region (OCR), 32.8% from the Rest of Central Region (RCR), and 29.2% from the Core Central Region (CCR).

The HDB rental market also experienced growth, with prices rising by 0.6% month-on-month. Rental prices in Mature and Non-Mature estates increased by 0.7% and 0.4%, respectively. Year-on-year, overall rental prices rose by 1.4%. Rental volumes for HDB flats increased by 4.8% month-on-month, with 2,725 units rented in June.

As the market continues to stabilise, the increase in available housing is expected to maintain a balanced rental environment, preventing drastic price hikes whilst meeting healthy demand.