Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
The 65th anniversary of the Real Estate Developers’ Association of Singapore (REDAS) was celebrated with much fanfare at the Marina Bay Sands ballroom on November 15th. In his welcome speech, REDAS President Tan Swee Yiow highlighted the significance of turning 65, as it marks the retirement age and eligibility for Central Provident Fund (CPF) payouts for some. The guest of honour at the event was President of Singapore Tharman Shanmugaratnam.
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Established in 1959, REDAS was formerly known as the Singapore Land and Housing Developers’ Association. The association was formed six years before Singapore gained independence and its visionary founders played a crucial role in shaping the nation’s real estate landscape. One of these pioneers was the late Lee Kim Tah, founding chairman of the Lee Kim Tah Group. From starting out as a materials supplier to the British army in the 1920s, the family business evolved into a contractor and developer responsible for some of Singapore’s most iconic buildings. Another pioneer was Lee Chin Chuan, founder of Hotel Royal in 1968. Serving as executive chairman and director of the listed hotel group until his passing in 2018, he left a significant impact on the industry. Tay Beng Swee, a private property developer who established his business in 1962, was also a key figure in the early days of REDAS.
“As pioneers, they laid the foundation for Singapore’s growth,” says Tan. “Real estate is essential to nation-building, shaping the physical landscape and driving social progress while creating jobs.” According to Tan, the real estate industry contributed nearly $20 billion to Singapore’s GDP last year, employing 16% of the workforce and providing 602,000 jobs. He emphasized how the industry has consistently shaped Singapore’s skyline with early skyscrapers and iconic projects such as Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, catering to the city’s growing needs. Tan also pointed out how developments like Marina Bay and Jewel Changi Airport have helped Singapore become a global financial hub and a top destination, showcasing the industry’s significant contribution to the country’s growth.
However, real estate has evolved beyond mere physical space. “From environmentally-friendly designs to record-breaking green spaces, our projects have gained international recognition, setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development,” says Tan.
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 closely 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. “Their passion for real estate and entrepreneurial spirit have profoundly inspired and shaped my career,” says Chia. He also expressed his gratitude for their continuous support.
It was Kwek Leng Beng, a REDAS patron, who brought Chia into the association during the mid-1980s, amidst the Pan-El crisis. Chia was invited to assist one of the subcommittees under the Property Market Consultative Committee (PMCC), which was formed under the Ministry of Finance with Kwek Leng Beng and the then-president of REDAS. “I have since been actively involved with the Council for over 30 years,” says Chia. He has taken turns serving on the REDAS Council with his late deputy chairman Kwek Leng Joo.
Over the decades, REDAS has been instrumental in providing constructive feedback to the government on private sector policies and has been a strong 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. “Our industry faced insurmountable challenges,” he reflects. “In response, we sprang into action, proactively joining various committees alongside government agencies to guide the sector through the confusion and chaos.” Although the period was challenging, Chia found it rewarding to work closely with stakeholders and the government. “Together, we weathered the storm, emerging stronger and more prepared, and accelerating the transformation of our built environment,” he says.
Looking ahead, Chia believes that the future holds limitless potential and that the next generation will continue to uphold the values that have guided REDAS and lead Singapore’s transformation and growth with purpose.