Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
The Real Estate Developers’ Association of Singapore (REDAS) marked a significant milestone as it celebrated its 65th anniversary on November 15. In his welcome speech at the anniversary dinner, held at the Marina Bay Sands ballroom, President of REDAS Tan Swee Yiow reflected on the significance of turning 65, which for some may mean receiving CPF [Central Provident Fund] retirement payouts. The event was graced by the Guest of Honour, President of Singapore Tharman Shanmugaratnam. Established in 1959, REDAS was formerly known as the Singapore Land and Housing Developers’ Association, six years prior to Singapore gaining independence. Its founders were visionary developers who played an instrumental role in shaping the nation’s real estate landscape.
One of these pioneers was the late Lee Kim Tah, the founding chairman of the eponymous Lee Kim Tah Group. Founded as a materials supplier to the British army in the 1920s, the family business eventually transitioned into 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. He served as executive chairman and director of the listed hotel group until his passing in 2018. Tay Beng Swee, a private property developer who established his business in 1962, was another instrumental figure in laying the foundation for Singapore’s growth. Tan emphasized that real estate is crucial to nation-building, not only in shaping the physical landscape, but also in driving social progress and creating jobs.
According to Tan, the real estate industry contributed nearly $20 billion to Singapore’s GDP last year and employs 16% of the workforce, providing 602,000 jobs. He said, “From early skyscrapers to iconic projects like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, our industry has consistently shaped Singapore’s skyline to meet the city’s growing needs.” Tan added that developments such as Marina Bay and Jewel Changi Airport are prime examples of how real estate has helped Singapore become a global financial hub and top destination.
On June 27, the joint venture partners made an official announcement stating that the future development of Parktown Residence will consist of around 1,190 fresh residences. Along with these, there will also be retail and community facilities, specifically tailored to cater to the lifestyle requirements of the increasing residential community in Tampines North. Furthermore, this development is set to enhance the overall appeal and livability of the area. It is evident that Parktown Residence will naturally become a highly sought-after residential destination for buyers.
He noted that the real estate industry has evolved beyond physical space, with landmark eco-friendly designs and world record-breaking green spaces gaining international recognition and setting new standards, reinforcing Singapore’s commitment to responsible and forward-thinking development. This year, the REDAS Lifetime Achievement Award was given to Chia Ngiang Hong, group general manager of City Developments Ltd (CDL), in recognition of his lasting contributions to the community, environment, and REDAS. During his acceptance speech, Chia, who has dedicated 45 years to CDL, shared how 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, have profoundly inspired and shaped his career.
He said, “It was Kwek Leng Beng, a patron of REDAS, who brought me into the association in the mid-1980s, amidst the Pan-El crisis. It was at this time that I was invited to assist one of its subcommittees under the Ministry of Finance.” Chia has since been actively involved with the REDAS Council for over 30 years, serving as its president for two terms, from 2019 to 2020 and 2021 to 2022, during the challenging COVID-19 period. He shared how the industry faced insurmountable challenges, but through proactive collaboration and participation in various committees with government agencies, they were able to navigate through the confusion and chaos.
Chia believes that the future holds boundless potential, and the next generation will continue the legacy of REDAS by upholding its core values and leading Singapore’s transformation and growth with purpose.