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by OrangeTee & Tie Pte Ltd.

Speech by Minister Desmond Lee at the OrangeTee Virtual Business Conference 2021

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Singapore, 24 May 2021

COVID-19 has had a particularly severe impact on our construction sector, and as real estate professionals, I believe you take a key interest in what is happening to that sector, because they generate assets and the properties which the real estate sector deals with. Even today, the situation remains difficult and highly fluid.

So if you will permit me, I thought I would start by giving you and your colleagues an update on the latest challenges faced by the construction sector, what these mean for the real estate industry as a whole, and how all of us here can do our part to help fellow Singaporeans through these difficult times. I will then touch on the progress of our longer-term transformation plans for the real estate agency industry; And finally end off with a look at our future plans for the housing market –  specifically our plans that we have been talking about for some time – to launch public housing in prime locations of Singapore, which will require a new housing model altogether.

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