Speech by Minister for Law & Second Minister for Home Affairs Edwin Tong SC at the REDAS Spring Festival Lunch

27 FEB 2026
  1. Thank you very much. First of all, good afternoon to all of you. So nice to see so many familiar faces and old friends here within the audience today. I also want to take the opportunity to wish everyone a Happy New Year. 祝大家新年快乐，身体健康, 万事如意, 龙马精神！
  1. Thanks for inviting me back here to join you at today’s REDAS Spring Festival. Like Mr Tan Swee Yiow (President of REDAS) said, I was last here a couple of years ago, and as always, it is a pleasure to join all of you.
  1. This gathering truly embodies the spirit of partnership and the sense of renewal that defines the start of each year.
  1. As we celebrate today, I am reminded that the real estate sector has been instrumental in shaping not just Singapore’s skyline, but I believe the very foundation of our nation’s growth and prosperity.

REDAS as a Vital Partner to Government

  1. Let me therefore begin by acknowledging REDAS’s vital role as a constructive bridge between the Government and the real estate development sector. Your feedback has constantly been constructive, and has been critical in helping us to maintain a stable and sustainable property market, ensuring that Singapore overall remains a competitive global city.
  1. I am particularly pleased that this collaborative spirit has translated into tangible improvements over the past year. Earlier Mr Tan mentioned enhancements such as those that we made to the Temporary Occupation Licence process for show-flat sites, where sites have been pre-identified to provide greater certainty of approval and faster processing times.
  1. This example is one of open dialogue and willingness to find practical solutions benefits not just developers, but ultimately all Singaporeans who aspire to own quality homes.
  1. Real estate developers are indeed key stakeholders in helping the Government to meet Singaporeans’ homeownership aspirations, as well as achieving our shared vision of Singapore’s physical development. So overall, your expertise and your partnership remain essential as we navigate the challenges and opportunities ahead.

Supporting Industry Growth in a New Era

  1. In Budget 2026, the Prime Minister outlined our ambition as a nation, to secure growth at the higher end of the 2% to 3% range over the next decade, ensuring that this is not growth for growth’s sake but that it translates into good jobs and rising incomes for Singaporeans.
  1. As we today embark on our post-SG60 journey in a changed and a lot more fragmented world, Singapore needs to remain a reliable and trusted hub for the world. The Government is committed to supporting business transformation through enhanced grants, tax incentives, and our new national AI missions across key sectors.
  1. Indeed the real estate sector has always been about creating spaces where businesses and communities can thrive. As Singapore becomes a trusted hub for AI development and deployment, I encourage you to think about how you can support the ecosystem – and how AI can transform your own operations, from construction efficiency to tenant services.
  1. Just as we are encouraging AI adoption across sectors, we are equally committed to modernising the regulatory foundations that support your businesses. The Government recognises that streamlined processes and reduced regulatory burden are essential to maintaining Singapore’s competitiveness as a global business hub.
  1. I believe this is where that my Ministry, MinLaw and the SLA can play a crucial role. MinLaw and SLA oversee the foundational systems that underpin all property transactions in Singapore – from land valuation, to conveyancing to state land management.
  1. SLA’s systems and processes ensure that all real estate transactions are executed efficiently and transparently. SLA continuously reviews and modernises its core processes that benefit developers, landowners as well as the broader real estate sector, by reducing processing times and administrative burden for users. We constantly look at the process, we review it, we think about it from end-to-end, and we see how it can either be made more efficient, or in some cases, shortened.
  1. Let me this afternoon share three specific initiatives that demonstrate this commitment to working in partnership with each of you.

Key Initiative 1: Enhancements to the Land Betterment Charge System

  1. First, we have made significant enhancements to the Land Betterment Charge (LBC) system.
  1. The LBC, as you know, is a tax on enhancement in land value and it is a key source of revenue for the Government. It allows the Government to invest in the infrastructure which enables development, and also allows us to deploy the LBC to the betterment of the surrounding community.
  1. The LBC regime was introduced in August 2022 and replaced the previous Development Charge and Differential Premium systems – the older DC and the DP systems - administered by URA and SLA respectively. This overall has simplified the process and benefits landowners and developers, who no longer need to apply to different agencies for the payment of these charges. You can apply now to one agency, but it must still be paid, just to be clear!
  1. We have made three recent improvements:

a. The framework has been enhanced to provide greater transparency and certainty for solar operators.

b. With effect from 1 September last year, solar deployments are now classified as utilities under Use Group D within the LBC Use Groups Table. This allows solar developers to calculate their LBC liability using the Table of Rates, instead of having to rely on spot valuation.

  1. Second, we understand that upfront certainty on the LBC amount is critical for business decisions. On that note, I am pleased to announce that SLA will be launching today, the LBC Estimator.
  1. This estimator will be integrated into SLA’s OneMap portal and will allow users to independently estimate the LBC payable for development proposals up front.
  1. It will automatically compute the estimated LBC from key inputs and allow for scenario testing under different development options.
  1. This again will provide greater certainty for businesses when trying to work out their costs overall.
  1. Third, we have brought forward LBC valuation processes for spot valuation cases:

a. We heard your feedback on how valuation processes for LBC cases requiring spot valuation can add to your project timelines.

b. To address this, SLA has recently brought forward the start of the valuation process for spot valuation cases to the Provisional Permission stage.

c. We estimate this can result in time savings of up to 6 months for developers.

Key Initiative 2: Digital Conveyancing Portal

  1. Second, let me say a little about the Digital Conveyancing Portal (DCP). Beyond the enhancements to the LBC regime, I am happy to announce that SLA will be launching the pilot for the DCP this year.
  1. The DCP aims to transform the current paper-based conveyancing process into a fully integrated, efficient, transparent and paperless digital system for all property transactions in Singapore.
  1. A digital conveyancing system will reduce administrative burden for the real estate industry, boosting productivity and allowing for better coordination between lawyers, banks, real estate professionals as well as government agencies. We have been working closely with these stakeholders to ensure that the DCP is fit for purpose and will meet industry needs.
  1. The Electronic Conveyancing & Other Matters Act was passed by Parliament on 15 October last year and the amendments will facilitate the implementation of the DCP, starting with a pilot for the grant and exercise of the Option to Purchase for private residential resale transactions first.

Key Initiative 3: New Opportunities Through State Properties

  1. Third, I would like to finally touch on new opportunities that we can glean from older State Properties. We understand the need to provide industry with new opportunities to partner with the Government in harnessing the value of our State Properties.
  1. In recent years, we have stepped up our efforts to use our State Properties to support unique, as well as differentiated offerings which add to the character and the vibrancy of Singapore. So developments such as New Bahru and The Foundry demonstrate the thinking behind this new approach.
  1. Earlier this month, SLA launched a Concept & Price tender for a cluster of conserved heritage bungalows at Adam Park for serviced apartment use on a 30-year leasehold tenure. This is a rare opportunity for real estate developers to test new living concepts in a unique and historically significant setting. While I would end by saying that we hope to see strong participation from the industry in this tender, let me say that I am not marketing, I am just using this as one example of what we are doing and the thinking design behind how we can deploy older properties.
  1. At the same time, SLA is also exploring longer tenures for State properties. We understand we need a longer tenure, capital expenditure (CapEx) goes into redevelopment, and overall, there is a win-win, because the properties are enhanced and redeveloped. We understand that, especially where this enables innovative development, and this adds to Singapore’s diverse offerings. So, we will be looking at that, and in due course, will make the announcements when ready.

Concluding Remarks

  1. Finally, as I conclude, I would like to acknowledge and once again commend REDAS’s efforts towards building the talent pipeline. We heard the efforts earlier from Mr Tan’s speech.
  1. REDAS’s talent initiative embodies our national commitment to building a resilient and skilled workforce and it is encouraging that about 40 organisations have expressed their interest in supporting this initiative.
  1. This comprehensive approach – offering internships, management traineeships, and I think very importantly, mentorship as well, will give students and fresh graduates the early exposure they need to see the full breadth of career possibilities in the real estate industry.
  1. I think this is exactly the kind of forward-thinking partnership that we need as we work towards creating good jobs for Singaporeans and strengthening our enterprise ecosystem.
  1. We look forward to our continued partnership with REDAS and each of you, and the Government in coming together to realise our shared vision of building a better Singapore.
  1. With that, I wish all of you once again, a very happy, prosperous Year of the Horse, and as the opening act showed, may you gallop further, faster towards even greater success.
  1. I leave you with one saying that I often use, because I believe that is very representative of how we are as Singaporeans post SG60 – which is that if you want to go fast, you go alone, but if you want to go far, we go together.
  1. Today, I think, in the spirit of the Year of the Horse, as we celebrate the 11th day of the New Year, I hope that we can go further together and take this industry even further, for the betterment of Singapore.
  1. Thank you very much.

Last updated on 27 February 2026