Realtor Ray at SG

17/06/2026

Alongside the 1Q 2026 economic scorecard by MTI, there was an article about the impact of AI. Boom and Singapore electronic sector.

Looking ahead, the MTI maintains a bright long-term outlook for Singapore’s electronics cluster, viewing it as well-positioned to capitalize on the sustained global AI investment boom. However, the MTI also cautions about potential downside risks: higher electricity prices stemming from Middle Eastern geopolitical conflicts could delay energy-intensive data centre developments, and any sudden pullback in global AI capital expenditure due to financial market concerns could negatively impact Singapore's growth trajectory

Higher electricity prices are already baked in. As to the extent of downside risks, we may not feel much until well into Q4 2026. Electricity prices is just one of the cost variable. The other big cost variable is the LLM token cost.

Will it trigger a demand destruction for AI usage? Or would it force business to seek out the cheaper LLMs to balance out business economics?

For the detailed MTI article, see https://www.mti.gov.sg/resources/economic-survey-of-singapore/economic-survey-of-singapore-and-feature-articles/economic-survey-of-singapore-first-quarter-2026/

16/06/2026

Following from yesterday's MTI infographic, here is the executive write up from MTI.

In the first quarter of 2026, the Singapore economy demonstrated robust growth, with Real GDP expanding by 6.0% year-on-year, an acceleration from the 5.7% growth seen in the previous quarter. This performance was primarily underpinned by strong output in the wholesale trade, manufacturing, and finance & insurance sectors. A central theme of this quarter was the Artificial Intelligence (AI) boom, which propelled the electronics cluster—specifically semiconductors and infocomms—to significant growth despite broader global uncertainties. However, the outlook is tempered by a deteriorating global environment.

The onset of the US-Israel-Iran conflict and the blockade of the Strait of Hormuz have introduced substantial downside risks, including spiked energy costs and supply chain disruptions for critical semiconductor inputs. While the labor market remains resilient with a resident unemployment rate of 2.9%, inflationary pressures have edged upward, with the Consumer Price Index (CPI) rising to 1.5%. External demand is expected to weaken for the remainder of the year as global financial conditions tighten and real incomes are eroded by inflation.

Read the full pdf athttps://isomer-user-content.by.gov.sg/166/cbda13af-78fe-408d-91fa-21f50825cdb5/FullReport_1Q26.pdf

15/06/2026

Three weeks ago, the Ministry of Trade and Industry released their 1Q 2026 economic survey. Here is the one pager inforgrahic. Details to follow.

This will likely be the **best** report card for 2026 and expect the following quarters in 2026 to come under more pressure with significant headwinds for the economy.

1. Unemployment will further pressure the labour market.
2. Inflation will continue to erode real income and exert more pressures on the economy.
3. There will be possibly more external demand destruction and will likely hit the trade numbers.

source:https://isomer-user-content.by.gov.sg/166/0d5bab5e-126c-4f92-8ed4-0a6f4ef469b8/MainIndicators_1Q26.pdf

03/06/2026

MND announced the 2H 2026 Government Land Sale Programme. Of particular interest the site at Town Hall Link with the Jurong Lake District. It is zoned a “White Site” per URA’s planning permission and is expected to yield 1,200 private residential units, 40,000 pure office space and 44,000 sqm GFA of complementary spaces (retail, serviced apartments, hotel, sports, recreation and community spaces, medical clinics, attractions)�
This 3.7 ha site is carved out of the a 6.5 ha master developer site that was originally put up for sale in 2024 and was not awarded.
�Some interesting takeaways:

1. This would be the single largest injection of pure office space in the Jurong Lake District since 2017 when the strata-owned Vision Exchange achieved completion.
2. A site of this size, couple with complex construction requirements and planning controls, the bidder will likely be a consortium or a joint venture.
3. The Jurong Lake District has finally kicked up a gear: more residential choices, more work and play possibilities. �

See the full press release by the MND:

https://www.mnd.gov.sg/newsroom/parliament-matters/speeches/view/private-housing-supply-under-the-government-land-sales-programme-sustained-at-a-high-level-in-the-second-half-of-2026-2h2026

And the details from URA:
https://www.ura.gov.sg/Corporate/Media-Room/Media-Releases/pr26-17

Courtesy of URA

27/05/2026

OrangeTee/Realion Research published their Q1 2026 report and outlook for Industrial spaces. Overall a neutral picture. PMI still in expansion mode despite a slowing down of rental and price growth.

If you are a Landlord, this may be early indications of things to come.

It is important to note this is already a weakening backdrop going in the US incursion into Iran around the Chinese New Year in 2026. The effects will likely not show up in the key stats until well in Q3/Q4 of this year. Will Singapore's bet on everything AI going to be able to shore up the weakening dynamics?

Key findings as follows:

Manufacturing Expansion: Singapore's manufacturing sector continued to expand in Q1 2026, with the Purchasing Managers' Index (PMI) rising to 50.5 in March 2026. This steady growth is largely fueled by global AI-related tailwinds and demand for semiconductors, AI hardware, and data center components

Modest Rental Growth Despite Lower Volume: Overall industrial rents increased marginally by 0.4% quarter-on-quarter in Q1 2026, though rental volume dropped by 3.4% for the third consecutive quarter. Despite cautious occupier sentiment, overall rents are projected to grow between 1% and 3% for the entire year

Slower Price Growth and Declining Sales: Industrial property prices rose by 1.2% quarter-on-quarter, easing from the growth seen in late 2025. The sales market also slowed, with the number of transactions falling by 16.1% and the total sales quantum dropping by 22.5% to S$1,782 million
Slight Uptick in Occupancy: The overall occupancy rate for industrial spaces increased by 0.2 percentage points to 88.9% in Q1 2026. This growth was driven primarily by businesses moving into newly completed multiple-user and single-user factory spaces.

Upcoming Supply Pipeline: Approximately 1.4 million sq ft of Gross Floor Area (GFA) was added to the total industrial stock in Q1 2026. An additional 8 million sq ft GFA is expected to be completed over the rest of the year, with single-user factories making up the bulk (61%) of this upcoming supply

25/05/2026

OrangeTee's parent research arm Realion Research published the 1Q 2026 key stats for the Office real estate sector. Their key takeaways are as follows:

* Stable demand for premium spaces: Demand for higher-grade office spaces is expected to remain stable throughout the year

* Continued investment activity: The market will be supported by a lower interest rate environment, which will continue to underpin investment activity

* Sustained "flight-to-quality": Occupiers will continue to prioritize newer, higher-specification buildings to improve workplace quality and enhance their corporate positioning

* Highly limited new supply: Very few new office completions are anticipated, with Shaw Tower being the only major addition expected in the second quarter of 2026

* Gradual rent and price increases: The tight supply pipeline will likely give landlords more pricing power, leading to a gradual uptick in rents

Realion Research projects CBD Grade A rents to grow by 3% to 4% and the URA Price Index for the Central Region to increase by 1% to 2% in 2026

If you are the tenant, these should raise some flags. The uneven playing field is right in front of you. If your lease is coming up in the next 6-15 months, it is time to start planning. Give us a call!

14/11/2025

It is really heartwarming to see the Ascott group has committed to furthering inclusivity in Singapore in partnership with other stakeholders. Singapore has progressed at break neck speed since independence and inclusivity has a lot to catch up.

https://www.edgeprop.sg/property-news/ascott-launches-disability-inclusion-framework-accommodation-sector?utm_source=Facebook&fbclid=IwY2xjawOD9GFleHRuA2FlbQIxMQBicmlkETEyV2FhT0lORXlXTURTRnBYc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHht7-GSuxvxn-wGKBjjaZwmymGEiehkEwRHMb16CXvyUOWl6oN2L9Zy7f-r-_aem_SIvHfPq-QqBwdDxRe3O4mw

It is one of the world’s first open-access playbooks providing hospitality operators with a holistic, practical framework to embrace disability inclusion.

03/11/2025

Today's big business news - the rumoured merger of Mapletree Investments and Capitaland Investments (CLI)

This would the equivalent of a merger of 2 titans. Will this be a merger of equals? or otherwise? Or will there be a deal at the end of the day? Still early days though .....

Dow Jones rekindles the Mapletree Investments-CapitaLand Investment merger possibility while analysts weigh in on the various combinations