Key URA man quits to move to private sector

[Ringo33]

[SINGAPORE] A key policymaker of the Singapore property market who helped shape the many cooling measures in the last few years is leaving the civil service to join the private sector.

Marc Boey, group director of land sales and administration at the Urban Redevelopment Authority (URA), will leave the land use planning and conservation authority at the end of this year.

Mr Boey, 46, will be replaced by Sin Lye Chong, currently director of property research and controller of housing in the land sales and administration group of URA. BT understands that Mr Sin will retain his present posts even after he takes over from Mr Boey.

The group director of land sales and administration at URA plays an important policymaking role for the Singapore property sector and reports directly to URA's chief executive officer.

The job involves heading the team that makes recommendations to the government on the number and type of sites to be released under the government land sales (GLS) programme, and advises on new measures that may be needed to maintain the health of the market. The role also includes overseeing the property research and controller of housing functions at URA.

Mr Boey has vast experience in planning and policy work, having spent 19 years at URA and the Ministry of National Development (MND). He has headed the land sales and administration group since early 2009.

Prior to that, he was controller of housing for over two years until Dec 31, 2008. He has also been actively involved in real estate work as a council member of the Council for Estate Agencies.

Chia Boon Kuah, president of the Real Estate Developers Association (Redas) and chief operating officer of property sales at Far East Organization, said of Mr Boey: "I have worked closely with Marc Boey and know him as a very hardworking, versatile and talented man."

Mr Boey, he said, is known to visit showflats over the weekends to keep in touch with the market.

"He always tries his best to explain the reasons behind key government policies that impact the property market," Mr Chia said. "At the same time, he's also very sensitive to feedback, and is always open to listening to the developers' side of the story, addressing our concerns and considering our input.
"He engages everyone who has a role to play in the property market - from property agents and developers to analysts and bankers," said Mr Chia. He added that Redas is looking forward to working closely with Mr Sin.
Knight Frank executive chairman Tan Tiong Cheng said Mr Boey is a "capable guy" whose views on the property market are "quite balanced".
"He is approachable, quite balanced and very sensible," said Mr Tan. "Marc has also been quite open, and has conducted many general and detailed discussions with people in the real estate scene in Singapore, from consultants to analysts and developers.

"As such, he has a good reading of what is at play in the market."
The 40-year-old Mr Sin has been director of research and controller of housing since 2011. The controller of housing department in URA grants licences to housing developers in Singapore.

He started working at URA in 1998, and was a property market analyst in his first four years.

He then spent a year at the Ministry of Finance, before moving on to a short stint as a planner looking at land use issues in the northeast region of Singapore. He has also worked at the Ministry of National Development, where he was deputy director of strategic planning.

[Lovelle]

Mr marc buay song

[august]

no one is indispensable.

[hopeful]

is he going to join real estate private sector?
perhaps like wall street regulators joining the firms they once regulate?

[Ringo33]

is he going to join real estate private sector?
perhaps like wall street regulators joining the firms they once regulate?

Could be far east? To replace in if their top guy who left got guocco land?

[mcmlxxvi]

Good riddance.

Bad rubbish.

[hopeful]

Good riddance.

Bad rubbish.

why do you say mr boey is bad rubbish?
is it because of this?

"Mr Boey, he said, is known to visit showflats over the weekends to keep in touch with the market.
......
"He engages everyone who has a role to play in the property market - from property agents and developers to analysts and bankers," said Mr Chia."

he visit showflats and yet didnt reign in misleading showflats?

and when he visit showflats, he didnt talk to buyers like you,me, everybody else? buyers has no role to play in the property market ah?

[mcmlxxvi]

Becoz he should just cm public housing instead of kaypo private housing. Made the whole market in disarray. Now market not going anywhere and he is forced to quit.

[hyenergix]

Becoz he should just cm public housing instead of kaypo private housing. Made the whole market in disarray. Now market not going anywhere and he is forced to quit.

How do u know e inside story?

[teddybear]

He really visit show flat? If so, why he didn't mandate developers to give out floor plans with dimensions In sales brochure since it is so obvious that facts like these are missing. If developers give floor plan with dimensions, buyers will know if they have been charged for void area and double volume etc!

why do you say mr boey is bad rubbish?
is it because of this?

"Mr Boey, he said, is known to visit showflats over the weekends to keep in touch with the market.
......
"He engages everyone who has a role to play in the property market - from property agents and developers to analysts and bankers," said Mr Chia."

he visit showflats and yet didnt reign in misleading showflats?

and when he visit showflats, he didnt talk to buyers like you,me, everybody else? buyers has no role to play in the property market ah?

[august]

maybe he should disclose his or his immediate family's property investments for the last 5 yrs, if any.

[Ringo33]

He is director in charge of land sales, so I presume one of his KPI will be tied to revenue generated from GLS. i see no reason why he should be bother about how developers conduct themselves in marketing. That perhaps should be taken care by his colleagues

[proud owner]

He is director in charge of land sales, so I presume one of his KPI will be tied to revenue generated from GLS. i see no reason why he should be bother about how developers conduct themselves in marketing. That perhaps should be taken care by his colleagues

so he would be involved when setting BASE price right ?

so indirectly he is responsible for pushing up the whole market...
and then his colleagues from other dept would come up with CM's...

swee ... govt makes money again

[Ringo33]

so he would be involved when setting BASE price right ?

so indirectly he is responsible for pushing up the whole market...
and then his colleagues from other dept would come up with CM's...

swee ... govt makes money again

I am pretty sure the direction from the top will be to generate maximum returns from GLS at a progressive and sustainable pace because Singapore land are more precious than gold.

What cooling measures does is not to crash to market or make land cheaper, but to force buyers and owners to hold their property for long term and also to prevent marginal buyers from entering the market because these are the people which will create havoc to the market if economy turn south or if there is any spike in interest rate.

Visiting showflats will give him a better idea of the profile of property buyers in Singapore. And knowing his customers' preference will also help to map out the type of product URA should push into the market.

[mcmlxxvi]

How do u know e inside story?

Pure speculation on my part.

I am a known speculator lol.

[Ringo33]

Could be far east? To replace in if their top guy who left got guocco land?

As I was saying...

joining a special project units is perhaps a disguise to distant himself from Singapore. Now we have to watch out for FEO participation on GLS..

[SINGAPORE] Former Urban Redevelopment Authority (URA) heavyweight Marc Boey joined property giant Far East Organization yesterday.
Mr Boey has been appointed to the newly created post of director of special projects, Far East International, a unit headed by Chng Kiong Huat. Mr Chng is executive director of property services at the group.
Set up in 1960 by the late Ng Teng Fong, Far East has completed some 730 developments in Singapore, spanning the residential, office, retail, industrial, serviced apartment and hotel space. Singapore's biggest privately-held property developer, the group has been stepping up overseas investments in the face of property cooling measures at home.
Among various things, Mr Boey will manage the development of the property giant's foreign projects. It owns a 1.5 million square foot land parcel in Melbourne's St Helena-Greensborough district, which is planned for development into an integrated residential community.
Last year, it bought The Clocktower Square complex in Sydney - a mixed- use asset with retail, office and hotel components - for A$72 million (S$82 million). It also clinched the Harbour Town Centre in Perth, an outlet shopping mall, for A$205 million. The group will continue operating the two assets. However, if they are redeveloped in the future, Mr Boey is expected to oversee these projects.
In Kuala Lumpur, the group's Singapore-listed vehicle Far East Orchard is redeveloping the former Plaza Atrium into a serviced residence.
In addition, Mr Boey will evaluate further overseas investment opportunities for the group.
Mr Boey, who is in his 40s, has close to two decades' experience in planning and policy work at URA and its parent, the Ministry of National Development (MND). He was group director of land sales and administration at URA, where he was responsible for strategising and implementing MND's Government Land Sales Programme. He also oversaw the property research and Controller of Housing functions at URA, collaborating with other government agencies in formulating key policies affecting Singapore's property market. He holds a master's degree in regional planning from Cornell University and an MA in geography from the National University of Singapore.
Mr Boey's arrival at Far East marks the latest senior management appointment in the group. Last October, it promoted Shaw Lay See to chief operating officer of property sales. She reports to Augustine Tan, executive director of property sales. Mr Tan joined the property giant last March.
Chia Boon Kuah, currently COO and executive director of property sales, will be leaving Far East on Feb 2. He will be moving to GuocoLand as group president and CEO on Feb 3, replacing Quek Chee Hoon, who is retiring.
Last November, Mavis Seow was promoted to COO of retail business group at Far East.

[mcmlxxvi]

Good guy bad guy all same person bao ka liao.

FEO is well known for pushing new psf highs. 'Nuff said.