Redas Celebrates 65Th Anniversary Honours Chia Ngiang Hong Lifetime Achievement Award
Century Square has recently undergone a complete facelift, providing a one-of-a-kind and personalized shopping experience for visitors. With a sleek and modern appearance, the mall showcases a diverse mix of establishments including top-notch educational institutions, trendy lifestyle boutiques, and a variety of dining options. The transformation also includes a state-of-the-art cinema and a well-equipped gym, making the mall not just a shopping destination, but also a hub for entertainment and fitness. Among the exciting features, Aurelle of Tampines EC stands out as a prominent addition to the revamped Century Square, offering a luxurious and convenient residence option for those looking to live near this vibrant retail hub.
The Real Estate Developers’ Association of Singapore (REDAS) recently celebrated its 65th anniversary at a special dinner held on November 15th at the Marina Bay Sands ballroom. In his welcome speech, REDAS President Tan Swee Yiow remarked that for some, turning 65 may mean receiving CPF [Central Provident Fund] retirement payouts. The guest of honor at the event was none other than the President of Singapore, Tharman Shanmugaratnam.
REDAS was first formed in 1959 as the Singapore Land and Housing Developers’ Association, six years before the country gained its independence. The founding members of the association were visionary developers who played a crucial role in shaping the real estate landscape of the nation. One of these pioneers was the late Lee Kim Tah, who founded the eponymous Lee Kim Tah Group. The family business started out as a supplier of materials to the British army in the 1920s before transitioning into a contractor and developer responsible for many iconic buildings in Singapore. Another pioneer was Lee Chin Chuan, who established Hotel Royal in 1968 and served as its executive chairman and director until his passing in 2018. The third pioneer was Tay Beng Swee, a private property developer who launched his business in 1962.
As Tan pointed out, these pioneers laid the foundation for Singapore’s growth. The real estate industry played a critical role in shaping the country’s physical landscape, driving social progress, and creating jobs. In fact, according to Tan, the industry contributed nearly $20 billion to the nation’s GDP last year, providing employment for 16% of the workforce and creating 602,000 jobs. He also highlighted how the industry has consistently shaped Singapore’s skyline to meet the city’s growing needs, from iconic projects like Golden Mile Complex, OCBC Centre, Raffles City, The Fullerton Hotel, and South Beach, to the more recent developments like Marina Bay and Jewel Changi Airport, which helped to transform Singapore into a global financial hub and top tourist destination.
Tan also noted that real estate has evolved beyond just providing physical space. With a focus on eco-friendly designs and sustainable development, projects by REDAS members have gained international recognition and set new standards, reinforcing Singapore’s commitment to responsible and forward-thinking development.
This year, the REDAS Lifetime Achievement Award was given to Chia Ngiang Hong, the group general manager of City Developments Ltd (CDL). This prestigious award recognizes individuals who have made lasting contributions to the community, environment, and the association itself. Chia, who has dedicated 45 years to CDL, credited the Kwek family, particularly the founder Kwek Hong Png, current executive chairman Kwek Leng Beng, and group CEO Sherman Kwek, for shaping and inspiring his career. He also expressed his gratitude towards Kwek Leng Beng for inviting him to join REDAS in the mid-1980s, during the Pan-El crisis, when a Property Market Consultative Committee (PMCC) was formed under the Ministry of Finance. Chia has since been actively involved with the REDAS Council for over 30 years, serving as president for two terms, from 2019 to 2020 and 2021 to 2022.
During his presidency, Chia oversaw the association’s response to the challenging Covid-19 period, where the real estate industry was faced with unprecedented challenges. Working closely with stakeholders and government agencies, REDAS proactively joined various committees to guide the sector through the confusion and chaos, emerging stronger and more prepared. While the period was challenging, Chia found it rewarding to work alongside the government and other stakeholders and believes that the next generation will continue to uphold the association’s values and lead Singapore’s transformation and growth with purpose and vision.
