Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
The Real Estate Developers’ Association of Singapore (REDAS) recently commemorated its 65th anniversary with a grand celebration. In his welcome speech at the dinner held on Nov 15 at Marina Bay Sands, REDAS president, Tan Swee Yiow, highlighted the significance of turning 65 for some as it means receiving their CPF retirement payouts.
The guest of honour at the event was President of Singapore, Tharman Shanmugaratnam. REDAS, originally known as the Singapore Land and Housing Developers’ Association, was founded in 1959, 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 which began as a materials supplier to the British army in the 1920s before transitioning into a contractor and developer responsible for many of Singapore’s iconic buildings. Another was Lee Chin Chuan, who founded the Hotel Royal in 1968. He served as executive chairman and director of the listed hotel group until his passing in 2018. A third pioneer, Tay Beng Swee, was a private property developer who established his business in 1962.
According to Tan, these pioneers have contributed immensely to Singapore’s growth and development. He also emphasized the pivotal role real estate plays in nation-building, not just in shaping the physical landscape but also in driving social progress and creating jobs. In fact, last year, the real estate industry contributed nearly $20 billion to Singapore’s GDP, employed 16% of the workforce, and provided 602,000 jobs.
Tan also noted that the real estate industry has evolved beyond just providing physical space. From landmark eco-friendly designs to world record-breaking green spaces, projects by developers have gained international recognition, setting new standards and reinforcing Singapore’s commitment to responsible and forward-thinking development. Some of the notable developments include Marina Bay and Jewel Changi Airport, which have helped Singapore become a global financial hub and top destination.
At the event, the REDAS Lifetime Achievement Award was presented to Chia Ngiang Hong, group general manager of City Developments Ltd (CDL). This award recognizes individuals who have made lasting contributions to the community, environment, and REDAS. Chia has dedicated 45 years to CDL and has had the opportunity to work with three generations of the Kwek family, the founders of CDL, and leaders in the real estate industry.
In his acceptance speech, Chia expressed his gratitude to the Kwek family for their unwavering support and inspiration. He also shared how he got involved with REDAS, which was through Kwek Leng Beng, a patron of the association. Chia recalled being invited to assist one of the subcommittees of the Property Market Consultative Committee (PMCC) formed under the Ministry of Finance during the Pan-El crisis in the mid-1980s. He later served as REDAS president for two terms, from 2019 to 2020 and 2021 to 2022.
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During his term, REDAS played a pivotal role in providing valuable feedback to the government on private sector policies and advocating for the real estate industry. Despite the challenges brought about by the Covid-19 pandemic, Chia worked closely with stakeholders and the government to guide the sector through the chaos. He believes that the future holds boundless potential, and the next generation will continue to lead Singapore’s transformation and growth with purpose, upholding the values that have guided REDAS.