Minister for National Development and Second Minister for Finance Lawrence Wong said Singapore can play a useful role as an infrastructure hub for Southeast Asia or even the broader Asia region.
The minister said this in his keynote address at The Urban Land Institute (ULI) Asia Pacific Summit in Singapore.
Minister Wong was one of the global line-up of real estate experts that attended the major real estate forum from 6 to 8 June at The Fullerton Hotel Singapore.
Speakers from different real estate sectors and disciplines covered a range of topics including how technology is disrupting the industry, housing and capital markets.
In his speech on Creating Competitive and Innovative Cities, Wong said that to help meet Asia’s huge infrastructure development needs, Singapore could assist other countries in the region in developing long-term urban master plans and implement infrastructure projects.
He also argued that master developers should focus on the long term because of the larger plots of land that they work on, and highlighted how master developers in other parts of the world did not just look at maximizing land use but also considered social needs.
The ULI Asia Pacific Summit brought together over 600 decision makers from all sectors of the real estate industry, including institutional investors, funders, developers, advisers, planners, architects and city leaders.
The summit is a highlight of the real estate industry calendar as it offers the opportunity for real estate and land use professionals from across the region to share ideas and best practices, as well as make new connections and strength existing relationships.
Among the other highlights at the summit, Lam Wee Shann of the Singapore Land Transport Authority explained the city’s trialing of autonomous cars, which fellow panelist Richard Paine of Lendlease said could make Singapore the first city to rely on driverless vehicles. “It has the will and a small island is the ideal space to make it work”, he said.