ST : UK real estate body to set up S'pore branch

May 18, 2010

UK real estate body to set up S'pore branch

By Lee Zhi Xin

SINGAPORE'S booming property market has prompted a leading international body to establish a branch here.

The Royal Institution of Chartered Surveyors (Rics) launched its Singapore branch at a ceremony at the official residence of the British High Commissioner yesterday. About 30 representatives of the real estate community, government organisations and academic bodies attended the event.

London-based Rics is the world's leading professional body for qualifications and standards in land, property and construction, according to its website.

'We provide members with a network into the property community and a ticket of entry to international firms,' said Rics Singapore chairman Iain Mackenzie at the launch.

'What distinguishes Rics is the broad spectrum we cover, with members specialising in fields from land surveying to property construction and evaluation.'

The local office is due to be set up by the end of this year.

The organisation prides itself on awarding an internationally recognised accreditation to property professionals worldwide. Globally, it has more than 140,000 members, of whom more than 600 are in Singapore. All are certified to have fulfilled its educational and training standards.

For example, members are required to upgrade their skills constantly. Rics also gives talks on property development. It has published more than 500 research papers, which are currently available in its online archives.

Robust regional growth, particularly in Singapore with the opening of Resorts World Sentosa and Marina Bay Sands, has ignited interest in the property market here, said Rics global president Max Crofts.

A person wishing to become a member typically needs to have a property-related degree and two years' experience with an employer, followed by an interview with Rics.

'We hope to attract more members of the younger generation, aiming to recruit at least 20 per cent of each graduating batch,' said Mr Mackenzie, emphasising the importance of keeping up with evolving workplace trends by having more fresh voices, to keep Rics standards relevant.