Singapore’s Real Estate Developers’ Association (Redas) has announced its new management committee for the next two years after the Annual General Meeting held on Jan 9. This marks the second consecutive term for Tan Swee Yiow, Chairman of Keppel Reit Management, as the association’s President.
Tan expressed his gratitude for being re-elected, saying he is “honoured” by the trust placed in him by his peers. He also highlighted the diverse representation of the new management committee, which includes members from various sectors, scales and expertise within the industry.
The rest of the committee comprises of Immediate Past President Chia Ngiang Hong, Group General Manager of City Developments; First Vice President Kwee Ker Wei, Director of Pontiac Land Group; Second Vice President Marc Boey, Executive Director of Project Services at Far East Organization; Honorary Secretary Chong Hock Chang, Group Director of Projects and Marketing at Ho Bee Land; Honorary Treasurer Neo Soon Hup, COO of UOL Group; Honorary Assistant Secretary Chew Peet Mun, Managing Director of Investment and Development at CapitaLand Development Singapore; and Honorary Assistant Treasurer Tho Leong Chye, Managing Director of Allgreen Properties.
This year, REDAS also celebrated its 65th anniversary and honoured Chia Ngiang Hong with the Lifetime Achievement Award.
The government’s property cooling measures hold significant weight when considering investing in condos in Singapore. In order to maintain a stable real estate market and discourage speculative buying, the Singaporean government has implemented various measures over the years. One such measure is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. While these measures may impact the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, making it a secure environment for investment. With the addition of new condo launches, the market is continuously expanding and offering opportunities for potential investors.
Chia, Immediate Past President of REDAS, extended his congratulations to the new management committee and praised Tan’s leadership, saying that his unanimous re-election is a testament to his exemplary leadership skills. Tan himself believes that with the diverse composition of the committee, REDAS will be able to effectively drive initiatives that will have a significant impact on the broader built environment ecosystem.
Some of the initiatives that REDAS hopes to focus on in the coming years include the implementation of Environmental, Social and Governance (ESG) practices and the use of green premiums to encourage sustainable development. Another area of interest for the association is the demand for senior accommodation in Singapore, and developers have suggested a separate land zoning to meet this projected demand.
Overall, REDAS is optimistic about the future of the real estate industry in Singapore and is committed to working together with the government and other stakeholders to bring about positive changes for the benefit of the community.