Tuesday, December 30, 2014

20141210 Developers Declared State of Singapore Economy

20141210 Developers Declared State of Singapore Economy

Real estate accounts for about half of the total fixed capital formation. 
One in 5 people in the workforce is employed by the real estate and construction industry.

President Chia Boon Kuah 
Real Estate Developers’ Association of Singapore’s (REDAS) 
55th REDAS anniversary dinner at the Ritz-Carlton

Great Problem Solver in Minister Khaw

Minister Khaw Boon Wan has, within a short span of time, turned around housing supply from prices spinning out of control to supplies more than demand.

This showed that a leader with wisdom and commitment, he can capitalize on existing infrastructure, rapidly make a land scarce island overflow with housing supply.

This showed that PAP members has wisely chosen their most capable to be Chairman PAP.

Among PAP members, he has been proven to effectively focus and resolve the most important problem assigned to him.

Higher Calling

However Mr Khaw is not Minister of Housing.
Minister is for National Development.

After solving the basic Housing issue, should we not encourage him to look at how to develop the nation?

With a nation well developed, can Developers not focus on greater goals, higher objectives?

With Developers achieving greater goals, higher objectives, will they not be sought after by the world? 

Will Singapore not become the world model, be the center for conferences for solving such problems?

Did LKY World City Prize, Water Prize achieve any major breakthroughs ?

Singapore can be Most Competitive 

A land scarce island can provide more than enough housing within short span of time.
With so many PMETs, retired doctors, nurses underemployed, unemployed.

Can manufacturers not be provided cheapest factory space for manufacturing the most sought after goods for export, for the world ?
Can airport, laboratories, hospitals, conference and exhibition halls, hotel rooms not be the world most competitive?

The myth of Singapore is land scarce, housing price must go up, PMETs are too expensive, manufacturing cannot be competitive are all proven wrong.

I come, not without knowing what is to come.
I come, not without knowing how Singapore can achieve greater success.

To Win Bread & Abalone for Singapore

This article will provide the direction that will address how Singapore, an export dependent economy, can DEVELOP Singaporeans, including Estate Developers, to become Stronger, to compete in the world, to win bread and abalone, with the objectives to make Singapore better.

We pride ourselves as full literacy, highly educated, first world nation.
We cannot be focusing on Bread and Bread alone !

We must provide the best solutions for the world, so that some of us can have Abalone, Caviar, Foie gras to their liking !

Developers Declared State of Singapore Economy

Real estate accounts for about half of the total fixed capital formation. 
One in 5 people in the workforce is employed by the real estate and construction industry.
This is an overwhelming industry. 

How can this overwhelming industry not crushing the economy ?
How can this overwhelming industry drive Singapore economy ?

Developers are Not Charitable Organizations

First,  Developers are not charity organizations.
Developers sell only to people who has the cash or can secure loans.

They need people with employment or profitable businesses !

Housing is not Wealth Generator

For every house sold, we have to create job for the buyer for at least 10, 20, 30 or even 50 years, in order for the housing loan to be serviced, fully serviced.

House is a resting place, a private family space, it is not a production space.
Housing is not production machines, food factories, ship yards, computer data centers.

Formation of capital in housing will tie the capital to the housing.
Therefore, Housing is a not a source for wealth creation, but a sink for wealth.

Oversize construction industry can crush the economy !

What Support Developers want?

REDAS Chairman stated that ONE in FIVE of our workforce are in Real Estate and Construction (of housing, road, MRT, drainage ? )

Can the other Four in the work force buy up this year houses built?
Can all FIVE of the work force buy the house built next year, year after next, each year?
The answer is obvious.

We can easily open the flood gate for more migrants to buy up house built.
If the migrants come merely to buy the house for investment, without seriously invest in Singapore Economy, then they are merely looking for capital gain from these houses. 
They are speculators. 
They will intensify, dramatize the volatility of prices.

REDAS Chairman warned:

We urge the Government to stand ready, to take supportive measures to prevent a tipping point, should the market turn volatile and worsen further.
REDAS president Chia Boon Kuah
who is also the President and CEO of Guoco Land

Developers, or all wiser persons, want buyers, immigrants to be contributing to Singapore's growth, not as cheap labors squatting on top of each other, or property speculators who look for cheap buy, big gain, fast sell.

The support most valuable to Developers is to use Singapore as a platform, to invent, design, build, operate housing, towns, cities, cluster of cites. 

So that they are sought after by nations, their developments are best sellers.

Hand delivered to LKY 
World has Lost Direction - Reasons & Solutions herein 

City Planning and Cluster of Cities Planning
Page 5 to 7 Announced by LKY implemented by China

20070420 The Way Forward - Integration and Efficiency

Announced by PM Lee Hsien Loong

20110417 Help Mah to Save Singapore - 1 Reasons behind Housing Policies

20110418 Help Mah to Save Singapore - 2 House Pricing

20110419 Save Singapore Housing - 3 Technology

20110420 Save Singapore Housing - 4 Final Points

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