Real Estate Industry Transformation Map: What You Need to Know

real estate

Launch Date

8 February 2018

Key Initiatives

Adopting Technology

  • Formation of a tripartite Facilities Management Implementation Committee. One key area the committee will work on is the adoption of smart technology to improve productivity.
  • A Digitalised Property Transactions Workgroup will give firms access to Government property related data later this year to make it easier for them to automate administrative processes. Examples of Government related data include property ownership details and work pass validity of a foreign tenant.

Developing Talent

  • Institutes of higher learning and facilities management associations will work with the Building Construction Authority to review and update course materials.
  • They will also work together to strengthen the continuing education and training framework to build the talent pool in facilities management.

Raising Professionalism

  • Council for Estate Agencies will work with industry stakeholders to publish transactions closed by real estate agents. This initiative will be rolled out in two phases. It will start with HDB residential transactions from end-2018 and private residential transactions from end-2019.
  • It will revamp its continuing professional development framework by the end of this year to help agents upgrade and keep up with the latest policy changes in real estate transactions.
  • It had also worked with NTUC LearningHub to introduce a SkillsFuture for Digital Workplace programme customised for real estate industry workers.

Click here to view the Real Estate Industry Transformation Map in full.

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