Singapore is showing why cooling is the next investment asset

As heat threatens to lower South-east Asia’s GDP, cooling is becoming a billion-dollar market

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When Singapore tightens its building codes or introduces new heat-mitigation standards for migrant workers, it also fosters the development of high-value IP. PHOTO: TAY CHU YI, BT

Ella Tan

Published Sun, May 31, 2026 · 06:00 PM

A COUNTRY that has only summer year-round might know a thing or two about heat.

For decades, Singapore’s relationship with the mercury was defined by Lee Kuan Yew’s famous assertion that air-conditioning was the greatest invention of the 20th century. He argued that air-conditioning was crucial for Singapore’s development, allowing for productive, year-round work in the tropics, and “was key to public efficiency”.

But as we navigate the record-breaking temperatures across South-east Asia, the narrative is shifting.

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