REDAS celebrates 65th anniversary, honours Chia Ngiang Hong with Lifetime Achievement Award

The Real Estate Developers' Association of Singapore (REDAS) celebrated its 65th anniversary two days earlier. "Turning 65 may mean receiving CPF [Central Provident Fund] retirement payouts for some," says Tan Swee Yiow, president of REDAS, in his welcome speech at the anniversary dinner on Nov 15, held at the Marina Bay Sands ballroom. President of Singapore Tharman Shanmugaratnam was the guest of honour at the event. REDAS was founded as the Singapore Land and Housing Developers' Association 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 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. Read also: CDL sells 20% of Union Square Residences at an average price of $3,200 psf Advertisement Advertisement "These pioneers helped lay the foundation for Singapore's growth," says Tan. "Real estate is central to nation-building—not only shaping the physical landscape but also driving social progress and 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. "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," he says. "Developments like Marina Bay and Jewel Changi Airport are prime examples of how we've helped Singapore to become a global financial hub and top destination," Tan adds. He notes that real estate has evolved beyond physical space. "From landmark eco-friendly designs to world record-breaking green spaces, our projects have gained international recognition, setting new standards and 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. Read also: CDL jointly acquires mixed-use development site in Shanghai for RMB8.94 bil with Chinese partner Lianfa Group Advertisement Advertisement Chia has dedicated 45 years to CDL. "Many have asked how I've managed to 'survive' at CDL," he quips during his acceptance speech. Over the course of his career, he has worked 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. "I am immensely grateful for their support." According to Chia, it was Kwek Leng Beng, a patron of REDAS, who brought him into the association. "It was during the mid-1980s, amidst the Pan-El crisis," he recalls. At the time, a Property Market Consultative Committee (PMCC) was formed under the Ministry of Finance. While Kwek Leng Beng and the then-president of REDAS served on the Committee, Chia was invited to assist one of its subcommittees. "I later alternated serving on the REDAS Council with my late deputy chairman, Kwek Leng Joo, and have since been actively involved with the Council for over 30 years," says Chia. Over the decades, REDAS has played a pivotal role in providing constructive feedback to the government on private sector policies and has been a steadfast advocate for the real estate industry, Chia adds. 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." While 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. Read also: CDL to preview Union Square Residences with prices starting from $1.38 mil Advertisement Advertisement 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".