Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
On Nov 15, the Real Estate Developers’ Association of Singapore (REDAS) marked its 65th anniversary with an anniversary dinner at the Marina Bay Sands ballroom. In his welcome speech, REDAS President Tan Swee Yiow mentioned that turning 65 could also mean receiving retirement payouts from CPF for some members. The guest of honour at the event was Singapore’s President Tharman Shanmugaratnam.
REDAS, previously known as the Singapore Land and Housing Developers’ Association, was established in 1959, six years before Singapore gained independence. Its founding members were visionary developers who had a significant role in shaping the country’s real estate landscape. One of these pioneers was Lee Kim Tah, the founder of the Lee Kim Tah Group. Starting as a materials supplier to the British army in the 1920s, the family business eventually became a contractor and developer responsible for many of Singapore’s iconic buildings. Another notable pioneer was Lee Chin Chuan, who founded Hotel Royal in 1968 and served as its executive chairman and director until his passing in 2018. Tay Beng Swee, a private property developer who started his business in 1962, was also one of the pioneers.
According to Tan, these visionaries laid the foundation for Singapore’s growth. He emphasized the crucial role of real estate in nation-building, not only in shaping the physical landscape but also in driving social progress and creating jobs. Tan also highlighted the significant contributions of the real estate industry to Singapore’s economy, which amounted to nearly $20 billion in 2019. It employed 16% of the workforce and provided 602,000 jobs.
Tan also mentioned some of the iconic developments that have shaped Singapore’s skyline, such as Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, South Beach, Marina Bay, and Jewel Changi Airport. These projects demonstrate how the real estate industry has helped Singapore become a global financial hub and a top destination.
The URA (Urban Redevelopment Authority) of Singapore has recently revealed a visionary plan for the newly developed Tengah area in the western region of the country. In accordance with the URA Master Plan, Tengah is envisioned to become a highly desirable “Forest Town”, boasting abundant greenery, well-connected public transport systems, and cutting-edge sustainable initiatives. This transformative vision is expected to greatly enhance the appeal of Novo Place EC, a contemporary executive condominium situated in the heart of this progressive town.
However, Tan emphasized that real estate has evolved to be more than just physical spaces. He pointed out that many developments today prioritize eco-friendly designs and have gained international recognition for their green spaces, setting new standards and showcasing Singapore’s commitment to responsible and forward-thinking development.
During the anniversary dinner, REDAS honored Chia Ngiang Hong, Group General Manager of City Developments Ltd (CDL), with the Lifetime Achievement Award. This 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: the founder, the late Kwek Hong Png; the current Executive Chairman, Kwek Leng Beng; and the Group CEO, Sherman Kwek.
Chia mentioned how Kwek Leng Beng, a patron of REDAS, brought him into the association during the mid-1980s amidst the Pan-El crisis. He later served on the REDAS Council for over 30 years and served as its President for two terms, from 2019 to 2020 and 2021 to 2022. Chia highlighted REDAS’ crucial role in providing feedback to the government on private sector policies and advocating for the real estate industry.
Chia also reflected on the challenging period of the COVID-19 pandemic, during which he served as REDAS President. He mentioned how the industry faced insurmountable challenges but proactively worked with stakeholders and the government to navigate through the confusion and chaos. As he looks towards the future, Chia believes that the next generation will continue to uphold the values that have guided REDAS and lead Singapore’s transformation and growth with purpose.