Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
The Real Estate Developers’ Association of Singapore (REDAS) celebrates its 65th anniversary with a festive dinner on Nov 15 at the Marina Bay Sands ballroom. The event was graced by the President of Singapore, Tharman Shanmugaratnam, as the guest of honour.
In his welcome address at the anniversary dinner, Tan Swee Yiow, the president of the Real Estate Developers’ Association of Singapore (REDAS), highlighted the significance of turning 65, which is when many receive their Central Provident Fund (CPF) retirement payouts. The event, held on Nov 15 at the Marina Bay Sands ballroom, celebrated REDAS’ achievements over the past 65 years, with President of Singapore, Tharman Shanmugaratnam, as the guest of honour.
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REDAS, initially known as the Singapore Land and Housing Developers’ Association, was established 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 Lee Kim Tah, the founding chairman of the eponymous Lee Kim Tah Group. The family business 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 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.
“The contributions of these pioneers have laid the foundation for Singapore’s growth,” says Tan. “Real estate is not only crucial in shaping the physical landscape but also plays a significant role in driving social progress and creating jobs.”
Tan points out that the real estate industry contributed nearly $20 billion to Singapore’s GDP last year, with 16% of the workforce employed in the sector, providing 602,000 jobs. He adds that the industry has consistently shaped Singapore’s skyline to meet the city’s growing needs, from early skyscrapers to iconic projects like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach.
“Developments like Marina Bay and Jewel Changi Airport are prime examples of how we have helped Singapore to become a global financial hub and top destination,” Tan says.
He also highlights how the real estate sector has evolved beyond physical space, with developments such as eco-friendly designs and green spaces gaining international recognition and setting new standards while 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). The award honours individuals who have made lasting contributions to the community, environment, and REDAS.
Chia has dedicated 45 years to CDL and has worked with three generations of the Kwek family, including the late Kwek Hong Png, the founder of CDL, the current executive chairman, Kwek Leng Beng, and the group CEO, Sherman Kwek. He acknowledges that their passion for real estate and entrepreneurial spirit have profoundly inspired and shaped his career and expresses his immense gratitude for their support.
Chia also recalls how Kwek Leng Beng, a patron of REDAS, brought him into the association in the mid-1980s amidst the Pan-El crisis. At the time, a Property Market Consultative Committee (PMCC) was formed under the Ministry of Finance, and Chia was invited to assist on one of its subcommittees.
He adds that he has since been actively involved in the REDAS Council for over 30 years, having alternated serving on the Council with his late deputy chairman, Kwek Leng Joo.
Over the decades, REDAS has provided constructive feedback to the government on private sector policies and has been a steadfast advocate for the real estate industry, says Chia, who also served as REDAS president for two terms during the challenging Covid-19 period. Despite the insurmountable challenges faced by the industry, he found the experience rewarding to work closely with stakeholders and the government, guiding the sector through the confusion and chaos.
Chia believes that the future holds boundless potential for the next generation, who will uphold the values that have guided REDAS and continue to lead Singapore’s transformation and growth with purpose.