The Real Estate Developers’ Association of Singapore (REDAS) recently celebrated its 65th anniversary, with President Tan Swee Yiow highlighting the milestone and its significance during the anniversary dinner on Nov 15 at the Marina Bay Sands ballroom. The Guest of Honour for the event was President of Singapore Tharman Shanmugaratnam.
REDAS, founded in 1959, was originally known as the Singapore Land and Housing Developers’ Association and played an instrumental role in shaping Singapore’s real estate landscape even before the country gained its independence. The association’s founders were visionary developers who helped lay the foundation for Singapore’s growth.
Among these pioneers were the late Lee Kim Tah, founding chairman of the Lee Kim Tah Group, a family business that began as a materials supplier to the British army and later evolved into a developer responsible for some of Singapore’s iconic buildings. Another pioneer was Lee Chin Chuan, founder of Hotel Royal in 1968, who served as executive chairman and director until his passing in 2018. Tay Beng Swee, a private property developer who established his business in 1962, was also one of the pioneers.
Tan Swee Yiow emphasized that the real estate industry is not only responsible for shaping the physical landscape of Singapore but also plays a crucial role in driving social progress and creating jobs. He stated that the industry contributed nearly $20 billion to Singapore’s GDP last year, providing 602,000 jobs and employing 16% of the workforce.
He also highlighted some of the most iconic projects in Singapore that were developed by the real estate industry, such as Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, that have helped to shape the city’s skyline to meet its growing needs. He also mentioned how developments like Marina Bay and Jewel Changi Airport have contributed to making Singapore a global financial hub and top tourist destination.
Tan Swee Yiow noted that the scope of the real estate industry has evolved beyond just creating physical space. He cited environmentally friendly designs and green spaces as examples of how the industry is setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development.
This year, the REDAS Lifetime Achievement Award was presented to Chia Ngiang Hong, group general manager of City Developments Ltd (CDL). The award recognizes individuals who have made lasting contributions to the community, environment, and REDAS.
Chia has dedicated 45 years to CDL and has worked with three generations of the Kwek family, including the founder, the late Kwek Hong Png, the current executive chairman, Kwek Leng Beng, and the group CEO, Sherman Kwek. He expressed his gratitude for their support and credited them for inspiring and shaping his career.
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Chia also shared how he was brought into REDAS by Kwek Leng Beng, who introduced him to the mid-1980s Property Market Consultative Committee (PMCC) formed under the Ministry of Finance. He has since been actively involved with the REDAS Council for over 30 years. He also mentioned REDAS’ pivotal role in providing feedback to the government on private sector policies and being a strong advocate for the real estate industry.
Chia served as the REDAS president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period. He reflected on the period and the industry’s response to the unprecedented challenges, stating that they had “sprang into action” by proactively joining various committees alongside government agencies to guide the sector through the confusion and chaos. While the period was challenging, he found it rewarding to work closely with stakeholders and the government, and together, they emerged stronger and more prepared, accelerating the transformation of Singapore’s built environment.
Chia believes that the future holds boundless potential, and the next generation will uphold the values that have guided REDAS and continue to lead Singapore’s transformation and growth with purpose.