Singapore’s Real Estate Developers’ Association (Redas) has recently appointed its newest management committee for the next two years. During their Annual General Meeting on January 9, members have unanimously re-elected Tan Swee Yiow, the Chairman of Keppel Reit Management, as its President for his second term.
When it comes to investing in Singapore, it is crucial for international investors to familiarize themselves with the policies and limitations surrounding property ownership. Unlike landed properties, which have stricter regulations, foreigners are generally able to purchase condos with minimal restrictions. However, it is important to note that foreign buyers are subject to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their first condo purchase. Despite this additional cost, the Singapore real estate market remains highly desirable for foreign investment due to its stability and potential for growth. Condos continue to be a popular choice for foreign investors in Singapore.
“We are honored to have Tan Swee Yiow as our President once again,” stated Redas, noting that the composition of the new management committee is well-rounded and diverse, encompassing representatives from various sectors, scales, and expertise within the industry.
The new management committee includes Tan Swee Yiow as President, Chia Ngiang Hong as Immediate Past President, Kwee Ker Wei as First Vice President, Marc Boey as Second Vice President, Chong Hock Chang as Honorary Secretary, Neo Soon Hup as Honorary Treasurer, Chew Peet Mun as Honorary Assistant Secretary, and Tho Leong Chye as Honorary Assistant Treasurer.
Notably, during the Redas’ 65th-anniversary celebration, Chia Ngiang Hong, Immediate Past President of Redas, was honored with the Lifetime Achievement Award. In line with this, he congratulated the newly appointed management committee and expressed his confidence in Tan’s leadership, emphasizing the trust that the Redas community has put in him.
Tan, on the other hand, recognizes the diversity of the new management committee as an opportunity to drive initiatives that will have a significant impact on the built environment ecosystem. He also shared that the committee’s broad representation and expertise will enable them to effectively execute their responsibilities and uphold their commitment to the industry.
Amidst the current challenges that the real estate industry faces, the Redas management committee aims to foster innovation and sustainable practices that will drive the sector forward. With the new management committee in place, the association is positioned to lead the industry towards a more resilient and future-ready landscape.