Industry News

Retail rents in Singapore’s prime central areas increased by 1.7% year-on-year in the fourth quarter of 2025, according to a report by Savills Research. The average monthly rent in the Orchard Area reached S$23.60 per square foot, reflecting strong tenant demand for high-visibility locations that attract footfall and enhance brand positioning.

In contrast, suburban retail rents saw a more modest rise of 1% year-on-year, reaching S$14.90 per square foot. This growth was supported by stable occupancy levels and a consistent demand for convenience and lifestyle-oriented retail formats. Overall, retail leasing activity remained steady, with a net absorption of 366,000 square feet recorded across the market in Q4 2025.

Despite a challenging first half of the year, the second half saw stronger leasing momentum. However, the total net absorption for 2025 was 301,000 square feet, significantly below the four-year post-recovery average of 1 million square feet. Consequently, islandwide retail vacancy remained stable at 6.3% in Q4 2025.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted, “Whilst consumer spending remains cautious and operating costs are rising, demand has stayed resilient for prime retail assets that continue to deliver footfall and brand visibility.”

Looking forward, Savills projects that approximately 504,000 square feet of new retail space will be completed in 2026, slightly above the five-year historical average. This limited supply is expected to keep pressure on occupancy and rental levels minimal, particularly for prime assets. Retail rents in both Orchard Road and suburban malls are anticipated to increase by 1% to 2% in 2026.

Centurion Asset Management Pte. Ltd., the manager of Centurion Accommodation REIT, has received provisional permission to expand its Westlite Ubi facility. The development will include a new 6-storey block and alterations to the existing 8-storey block, increasing the total capacity from 1,650 to 2,190 beds.

The expansion will require a land premium of approximately S$13.9m payable to JTC Corporation. The manager plans to finance this project through committed debt facilities. Construction is expected to begin by the second quarter of 2026 and is anticipated to take about 1.5 years to complete. During this period, the current 8-storey block will continue to operate and generate income.

This development is significant as it addresses the growing demand for accommodation in the area. The increase in capacity is expected to enhance the facility’s ability to serve more residents, thereby boosting its operational efficiency and revenue potential.

The expansion aligns with Centurion Accommodation REIT’s strategy to optimise its assets and meet the evolving needs of its clientele. As the project progresses, stakeholders will be keenly observing its impact on the local accommodation market and the REIT’s financial performance.

Mediacorp has partnered with Mastercard to introduce Singapore’s first end-to-end media measurement solution, leveraging anonymised transaction insights to enhance media effectiveness evaluation. This collaboration aims to provide brands with a clearer understanding of how media exposure translates into real-world consumer actions, thereby improving campaign planning and outcome measurement.

The partnership combines Mediacorp’s extensive omnichannel reach across television, radio, digital, social, and out-of-home platforms with Mastercard’s transaction and spending insights. This integration allows advertisers to gain deeper insights into audience behaviour, including store visits and purchase activities, creating a closed-loop measurement framework that directly links media delivery to business outcomes.

Advertisers can now track market share shifts and benchmark their performance against competitors, enabling more informed decision-making. The solution offers full-funnel accountability, assessing campaign performance across platforms and allowing brands to optimise media investments based on actual commercial impact rather than proxy metrics like impressions.

This initiative builds on Mediacorp’s ongoing investment in advanced measurement tools, following the introduction of its Ultimate Omnichannel Impact framework. This framework, based on the five Cs—Culture, Content, Connection, Context, and Conversion—aims to create a seamless journey from storytelling to sales.

Jacqui Lim, Mediacorp’s Chief Commercial Officer, stated, “This collaboration elevates how media effectiveness is measured in Singapore.” Tancho Fingarov, Mastercard’s Senior Vice President, added, “By integrating these capabilities, we’re giving marketers clearer visibility into what truly drives impact.”

The partnership is set to offer a smarter, outcome-led approach for brands to plan, measure, and grow media effectiveness in a dynamic omnichannel landscape.

Qatar Investment Authority (QIA) has partnered with Hongkong Land Holdings Limited to launch the Singapore Central Private Real Estate Fund (SCPREF), marking the largest commercial private investment fund in Singapore with S$8.2b in assets under management at its inception. The fund, advised by global law firm Linklaters, focuses on high-quality, income-producing commercial assets in Singapore’s Central Business District and Orchard Road District, aiming to reach a gross asset value of at least S$15b.

SCPREF is a perpetual open-end fund, initially comprising a portfolio with 2.6 million square feet of effective net lettable area. Asia Square Tower 1, a premium Grade A office tower previously wholly owned by QIA, is included in the fund’s initial portfolio. Alongside QIA, APG Asset Management is also a founding investor in the fund.

The advisory team from Linklaters was led by corporate partner Robert Elliot, with support from counsellor Grace Wong and a cross-practice, multi-jurisdictional team. Elliot expressed pride in supporting QIA and highlighted the transaction as evidence of Singapore’s status as a key gateway for global institutional capital. He noted, “The launch of SCPREF underscores Singapore’s position as a pre-eminent gateway for global institutional capital.”

The establishment of SCPREF not only strengthens Singapore’s position in the global real estate market but also demonstrates the collaborative efforts of international legal and financial teams to facilitate significant investment opportunities in the region.

Singapore’s CEOs are expressing strong confidence in the local economy, with 90% optimistic about the next 12 months, according to the EY-Parthenon CEO Outlook Survey. The survey, which included 40 Singaporean CEOs among 1,200 global participants, highlights a focus on artificial intelligence (AI) and mergers and acquisitions (M&A) as key strategies for growth in 2026.

The survey reveals that 65% of Singaporean CEOs expect AI to become a major growth engine within two years, with 35% believing it will fundamentally reshape operations. Purandar Rao, EY-Parthenon Asia East and Singapore Strategy and Transactions Leader, noted, “Leading CEOs thrive amid uncertainty by quickly adopting new technologies and driving strong collaboration to stay competitive.”

M&A remains a critical strategy, with all Singapore respondents planning transactions in the next year. Interest in joint ventures and strategic alliances is strong, with 80% of CEOs planning such initiatives. The top investment destinations include Singapore, Hong Kong, India, Malaysia, and the Philippines.

The survey also indicates a proactive approach to talent retention, with 80% of CEOs optimistic about attracting and retaining critical talent. Joongshik Wang, EY-Parthenon Asean Strategy and Execution Leader, emphasised the importance of investing in skills development to fully realise AI’s benefits.

As geopolitical scrutiny reshapes deal strategies, Singaporean CEOs are focusing on technology-driven M&A to navigate a volatile market. “2026 won’t bring certainty, and CEOs know it,” concluded Rao, highlighting the need for strategic capital allocation.

The National University Health System (NUHS) has unveiled its Clinical Quality & Patient Safety e-Book during the NUHS Quality Day 2026, highlighting the transformative role of artificial intelligence (AI) in healthcare. The event, held on 9 February, brought together senior policymakers, clinicians, and international experts to discuss the responsible integration of AI and data-enabled systems in clinical practice.

The NUHS Institute of Clinical Quality (NICQ), led by Executive Director Professor Quek Swee Chye, is at the forefront of this transformation. The institute focuses on quality improvement, patient safety training, data innovation, research, and value-based care. Professor Quek emphasised the importance of responsible AI implementation, stating, “Quality and patient safety must remain the anchor of every innovation we introduce.”

The event featured keynote lectures from international experts, including Professor Koo Ho Rha from Korea and Dr Ross Wilson from the US, who shared insights on digital healthcare and quality journeys. A panel discussion explored how technology can enhance quality, safety, and value in healthcare systems.

NUHS Quality Day 2026 underscores the institution’s commitment to fostering a culture of continuous learning and collaboration, aiming to strengthen trust and sustainability in Singapore’s public healthcare system. The launch of the e-book marks a significant step in sharing best practices and innovations across the academic health system, ensuring that emerging technologies translate into meaningful improvements for patients.

Carro, a leading automotive marketplace in Asia Pacific, has announced its new role as an authorised dealer for Dongfeng Motor Corporation, establishing exclusive showrooms in Sin Ming, Singapore, and Petaling Jaya, Malaysia. This strategic move marks a significant expansion in Carro’s brand-new car offerings, further solidifying its presence in the region.

The collaboration with Dongfeng Motor Corporation, facilitated through a partnership with Volt Auto, the sole distributor of Dongfeng vehicles, aims to deliver enhanced customer value. Carro’s robust customer relationship management ecosystem will support this initiative by providing competitive trade-in options, integrated financing, and insurance solutions. This partnership is expected to offer a seamless end-to-end ownership experience for Dongfeng customers.

Carro’s new showrooms will feature the latest models, including the Dongfeng VIGO, Dongfeng 007, and Dongfeng BOX. Each vehicle will come with authorised dealer warranties, alongside Carro’s financing and insurance packages. This development is part of Carro’s broader strategy to deepen its Brand New Car initiative, which now includes two automotive brands, Dongfeng and Zeekr.

The company plans to expand further, with additional showrooms set to open across Malaysia in the first half of 2026. This expansion underscores Carro’s commitment to enhancing its automotive ecosystem and marketplace in Southeast Asia.

tesa, a global leader in adhesive solutions, is celebrating its 45th anniversary in Singapore, underscoring its long-standing commitment to the nation’s industrial and technological advancement. Since its establishment in 1981, tesa has been integral to Singapore’s transformation into a global hub for business and advanced technologies, supporting precision manufacturing and fostering talent development across the Asia-Pacific region.

Backed by over 125 years of expertise in adhesives, tesa’s technologies are embedded in everyday products, from smartphones to automotive vehicles. Andreas Gunnestrand, President and Regional Manager of tesa tape Asia-Pacific, stated, “Singapore has become a strategic partner in our growth across Asia-Pacific. Over the past 45 years, we have grown together with Singapore’s industrial ecosystem.”

Tesa’s commitment to innovation is evident through initiatives like the Debonding on Demand laboratory, developed in partnership with A*STAR. This facility aims to enhance Singapore’s position as a hub for advanced manufacturing and circular economy innovation. The lab’s technologies enable efficient disassembly and reworking of components, aligning with evolving recycling targets.

Sustainability remains a core focus for tesa, aligning with the Singapore Green Plan 2030. The company is dedicated to reducing emissions and improving resource efficiency by introducing solvent-reduced technologies and recyclable designs.

As Singapore advances into smart manufacturing and digitalisation, tesa’s adhesive technologies are set to play a crucial role. Gunnestrand remarked, “45 years is both a milestone and a moment of reflection. We remain committed to contributing to the nation’s next phase of growth through innovation, talent development and sustainable progress.”

Atome, Southeast Asia’s leading digital finance platform, has announced that users of the Atome Singapore app can now shop and pay in Malaysia using the same app. This new feature, unveiled on 10 February 2026, marks the first time Atome Singapore users can enjoy a seamless cross-border shopping experience. The app allows over 1.5 million users to shop at 15,000 Atome partner retail outlets across Malaysia by simply scanning the Atome QR code at checkout.

The bill, initially in Malaysian ringgit, is automatically converted to Singapore dollars at a competitive exchange rate and split into three interest-free payments. Additionally, purchases in Malaysia earn A reward points. This launch is timely, coinciding with the Chinese New Year festive season and major infrastructure projects like the Johor Bahru-Singapore RTS Link, set to boost cross-border travel and retail activity.

Bryan Quek, General Manager of Atome Singapore, stated, “The launch of Atome’s cross-border functionality is especially timely with major infrastructure projects set to further boost cross-border travel and retail activity.” Atome Singapore users can now shop in cities such as Kuala Lumpur, Melaka, and Penang.

Popular Atome merchants in Malaysia include electronics brands like Samsung and Xiaomi, fashion retailers such as Coach and Ralph Lauren, and sports outlets like Nike and Decathlon. From 11 to 28 February, Atome Singapore is running a Chinese New Year campaign offering a red packet lucky draw of up to S$888 and cashback capped at S$88. Terms and conditions apply.

The Energy Efficiency Technology Centre (EETC), a collaboration between the National Environment Agency (NEA) and Singapore Institute of Technology (SIT), has launched a new Energy Efficiency Training Facility (EETF) at SIT Punggol Campus. Opened by Senior Minister of State Dr Janil Puthucheary, the 430 square-metre facility is designed to provide practical training simulating real-world manufacturing conditions for Small and Medium-sized Enterprises.

The EETF is Singapore’s first facility to offer an integrated suite of industrial systems, including pumps, compressed air, lighting, and more, enabling participants to conduct energy efficiency assessments in a controlled environment. This setup allows for hands-on training without disrupting actual operations. SIT students participating in the Integrated Work Study Programme will gain practical energy audit skills alongside EETC professionals.

Additionally, the facility serves as a platform for applied research and digital innovation. SIT has partnered with Willowglen Services Pte Ltd to develop a Sustainability Reporting System, leveraging operational data for real-time monitoring and analytics of energy consumption and carbon emissions. This initiative aims to enhance both training and research outcomes.

SIT President Professor Chua Kee Chaing highlighted the facility’s role in providing industry-relevant education, stating, “This training facility underscores SIT’s commitment to applied learning and industry-relevant education.”

Since its inception in 2020, the EETC has supported over 50 companies and trained more than 500 professionals. With the new facility, it is expected to deliver 1,500 hours of training annually, benefiting around 400 participants through various programmes, including the Energy Efficiency Upskilling Programme and the Singapore Certified Energy Manager programme.