The REAL Estate Developers’ Association of Singapore (Redas) will be marking its 50th anniversary this year with a series of monthly celebrations leading up to a gala dinner at the end of 2009. The first of the series, a 16-team dragon boat race, will kick off the festivities at Bedok Reservoir today. Foreign Affairs Minister George Yeo is the guest-of-honour for the event.
Redas was formed in March 1959 by a small group of developers under the leadership of Lee Kim Tah. Then known as the Singapore Land and Housing Developers’ Association, the organisation worked closely with the government in the property market, supporting the Housing & Development Board’s (HDB) campaign to provide homes for every Singaporean.
Besides this, Redas is actively consulted by the government in housing-related legislation, the first of such being the landmark Housing Developers (Control & Licensing) Act of 1965. With its extensive network, Redas provides regular feedback on conditions within the industry.
Redas has come a long way. Its members have advanced into other areas of property development over the years, developing and owning major commercial, industrial, hotel and service apartment properties in Singapore and overseas. In some cases, certain world-class residential projects have won international awards, giving the Redas brand global acclaim.
Redas members have also progressed with the times to provide investors with alternative investments such as Real Estate Investments Trusts (Reits).
There are currently about 300 developers and others in supporting industries who are Redas members, benefiting from a wide range of activities that cater to the property and building industry.
‘Redas has over the last fifty years played a positive contributory role to the real estate industry,’ said current president Simon Cheong, chairman and CEO of SC Global Developments.
‘We are confident our members have the drive and enterprise to meet the challenges ahead. Notwithstanding the current financial crisis, Redas members will continue to actively participate in Singapore’s aspiration to be a leading global city.’
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