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The Real Estate Developers’ Association of Singapore (REDAS) recently marked its 65th anniversary. In his welcome speech at the anniversary dinner held at the Marina Bay Sands ballroom on Nov 15, REDAS President Tan Swee Yiow noted that turning 65 may mean receiving CPF retirement payouts for some members. The guest of honour at the event was President of Singapore Tharman Shanmugaratnam.
Established in 1959, REDAS was originally known as the Singapore Land and Housing Developers’ Association, six years before Singapore gained independence. Its founders were visionary developers who played a crucial role in shaping the nation’s real estate landscape. One of these pioneers was the late Lee Kim Tah, the founding chairman of the Lee Kim Tah Group. Starting as a materials supplier to the British army in the 1920s, the family business later transitioned into a contractor and developer responsible for many of Singapore’s iconic buildings. Another was Lee Chin Chuan, who founded Hotel Royal in 1968 and served as its executive chairman and director until his passing in 2018. A third pioneer, Tay Beng Swee, established his property development business in 1962.
According to Tan, these pioneers helped lay the foundation for Singapore’s growth. He added that real estate is central to nation-building as it not only shapes the physical landscape but also drives social progress and creates jobs. Last year, the real estate industry contributed nearly $20 billion to Singapore’s GDP, employed 16% of the workforce, and provided 602,000 jobs.
From early skyscrapers to iconic projects such as Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, the real estate industry has consistently shaped Singapore’s skyline to meet the city’s growing needs. Tan also noted that developments like Marina Bay and Jewel Changi Airport are prime examples of how the industry has helped Singapore become a global financial hub and top destination.
He further stated that real estate has evolved beyond physical space, with landmark eco-friendly designs and world record-breaking green spaces gaining international recognition and setting new standards while reinforcing Singapore’s commitment to responsible and forward-thinking development.
At the anniversary dinner, City Developments Ltd (CDL) Group General Manager Chia Ngiang Hong received the REDAS Lifetime Achievement Award. This award honors individuals who have made lasting contributions to the community, environment, and REDAS.
In his acceptance speech, Chia, who has dedicated 45 years to CDL, recalled being asked how he managed to “survive” at the company. He credited the founder, the late Kwek Hong Png; the current executive chairman, Kwek Leng Beng; and the group CEO, Sherman Kwek, who have inspired and shaped his career with their passion for real estate and entrepreneurial spirit. Kwek Leng Beng, a patron of REDAS, invited him to join the association during the mid-1980s, when the Pan-El crisis was ongoing. Chia later alternated serving on the REDAS Council with his late deputy chairman, Kwek Leng Joo, for over 30 years. He also mentioned REDAS’s pivotal role in providing constructive feedback to the government on private sector policies and serving as a steadfast advocate for the real estate industry.
Chia also served as REDAS president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging Covid-19 period. He noted that the industry faced insurmountable challenges during this time, but they “sprang into action,” joining various committees alongside government agencies to guide the sector through the confusion and chaos. While the period was tough, Chia found it rewarding to work closely with stakeholders and the government. He believes the future holds boundless potential and that the next generation will uphold the values that have guided REDAS and continue to lead Singapore’s transformation and growth with purpose.