Even as it competes with the best, it must not price itself out of the market
Senior Minister Goh Chok Tong yesterday painted his vision of Singapore as a vibrant, green and harmonious city for the next 25 years. He also underlined the importance of keeping property prices reasonable to achieve this dream.
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| Happy 50th anniversary: (from left) Mr Philip Ng of Far East Organization; Mr Simon Cheong, Redas president; SM Goh; Minister for National Development Mr Mah Bow Tan and Mr S Dhanabalan, Temasek chairman |
Rents for businesses have to be competitive with those in other financial hubs such as Hong Kong and London, he said. And to offer companies more flexibility, Singapore must also have not just Grade A offices in the central business district but also cheaper space at the fringe of the city centre.
‘My vision for Singapore is for it to be ‘a distinctive city, a harmonious home’,’ Mr Goh said at a gala dinner commemorating the 50th anniversary of the Real Estate Developers’ Association of Singapore (Redas).
Singapore has progressed rapidly, transforming from a poor country with crumbling houses to a vibrant city with iconic buildings, he said.
But he emphasised that with globalisation, Singapore needs to benchmark itself against the best in the world and become one of the most liveable cities. Its competitive advantages in drawing talent and investments – such as its pro-business policies and clean environment – are quickly being eroded as other cities adopt similar strategies.
Mr Goh said Singapore can be distinctive by offering ‘the liveability of a garden city and the conveniences of a compact city’.
At the same time, Singapore can be economically vibrant yet environmentally sustainable, he said. It can build a resource-efficient economy, rely more on public transport and have more Green Mark-certified buildings. Continue reading
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