Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
Singapore’s Real Estate Developers’ Association (REDAS) recently celebrated its 65th anniversary with a grand dinner at the Marina Bay Sands ballroom on November 15. In his welcome speech, REDAS president Tan Swee Yiow highlighted the significance of this milestone, stating that for some, turning 65 means receiving retirement payouts from the Central Provident Fund (CPF). The guest of honour at the event was President of Singapore, Tharman Shanmugaratnam.
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REDAS was established in 1959, six years before Singapore gained independence, under the name Singapore Land and Housing Developers’ Association. Its founders were visionary developers who played a crucial role in shaping the country’s real estate landscape. Among these pioneers were Lee Kim Tah, founder of the Lee Kim Tah Group, which started as a materials supplier to the British army in the 1920s and later transitioned into a renowned contractor and developer responsible for many of Singapore’s iconic buildings. Another pioneer was Lee Chin Chuan, who founded the Hotel Royal in 1968 and served as executive chairman and director of the listed hotel group until his passing in 2018. The third pioneer was Tay Beng Swee, a private property developer who established his business in 1962.
Tan Swee Yiow emphasized the significant contribution of these pioneers in shaping Singapore’s growth, stating that real estate plays a central role in nation-building. Not only does it shape the physical landscape, but it also drives social progress and creates jobs. According to Tan, the real estate industry contributed almost $20 billion to Singapore’s GDP last year, employing 16% of the workforce and providing 602,000 jobs. He also mentioned some of the industry’s notable projects, including the Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, South Beach, Marina Bay, and Jewel Changi Airport, which have contributed significantly to making Singapore a global financial hub and top tourist destination.
Tan further highlighted how the real estate industry has evolved beyond traditional physical spaces, with projects incorporating environmental-friendly designs and creating world record-breaking green spaces. These developments have gained international recognition, setting new standards and reinforcing Singapore’s commitment to responsible and innovative development.
This year, REDAS honored Chia Ngiang Hong, the 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 during his acceptance speech, he credited 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, for profoundly inspiring and shaping his career. He also acknowledged Kwek Leng Beng’s role in bringing him into REDAS in the mid-1980s during the Pan-El crisis. Chia has since been actively involved with the REDAS Council for over 30 years, alternating serving with his late deputy chairman, Kwek Leng Joo.
Chia also praised REDAS for its crucial role in providing feedback to the government on private sector policies and advocating for the real estate industry. He served as REDAS president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging period of the Covid-19 pandemic. He reflected on the industry’s resilience and proactive approach in working closely with stakeholders and the government to navigate through the crisis and emerge stronger.
Chia expressed his belief that the future holds limitless potential and the next generation will continue to uphold the values that have guided REDAS and lead Singapore’s transformation and growth with purpose.