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Heng Swee Keat
1 d ·Kudos to Yeo Zen Xun, who is only 8 years old, for putting up an impressive solo Teochew Opera performance!
(MCI Photo by Ngau Kai Yan)
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East Coast Plan unveiled
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Kudos to Yeo Zen Xun, who is only 8 years old, for putting up an impressive solo Teochew Opera performance!
(MCI Photo by Ngau Kai Yan)
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Heng Swee Keat
2 d ·My thanks to the Teochew Federation for having me. Wishing all prosperity and success in the year ahead!
(MCI Photo by Ngau Kai Yan)
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HSK had a good time catching up with former MPs. 
Heng Swee Keat is with MParader and
1 d ·
Had a good time catching up with former MPs at a Chinese New Year reunion lunch hosted by PM Lee Hsien Loong at the Istana yesterday. It was nice to hear how many of them are still active in the community in various roles. Thank you to all for your support and contributions to Singapore!
Heng Swee Keat is with MParader and
9 others
.
1 d · Had a good time catching up with former MPs at a Chinese New Year reunion lunch hosted by PM Lee Hsien Loong at the Istana yesterday. It was nice to hear how many of them are still active in the community in various roles. Thank you to all for your support and contributions to Singapore!
- Joined
- Jul 14, 2008
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- 88,961
- Points
- 113
Heng Swee Keat
1 d ·With Mr Abdul Nasser Kamaruddin and Mr Yatiman Yusof — we're all dressed in festive colours for the reunion lunch!
(MCI Photo by Betty Chua)
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Heng Swee Keat
1 d ·Wishing all good health and happiness in the year of the Rabbit!
(MCI Photo by Betty Chua)
— with MParader and
9 others
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HSK wishes everyone Happy Birthday!
Happy birthday to everyone!
Today is the seventh day of Chinese New Year, also known as 人日. According to Chinese belief, humans were created on this day. Here in Singapore, we would usually gather and toss yusheng to mark this occasion. And I did so with members of the Real Estate Developers' Association of Singapore (REDAS) yesterday.
The year ahead is filled with hope and some uncertainty, not just for the built environment sector that I was tossing yusheng with, but also for Singapore and the global economy.
The rabbit is known for its nimbleness. In the Year of the Rabbit, my hope for all of us is that we can face the uncertainties ahead with wisdom, decisiveness, and speed. 希望大家能够动如脱兔，而不要留在原地守株待兔！
Heng Swee Keat
6 h ·Happy birthday to everyone!
Today is the seventh day of Chinese New Year, also known as 人日. According to Chinese belief, humans were created on this day. Here in Singapore, we would usually gather and toss yusheng to mark this occasion. And I did so with members of the Real Estate Developers' Association of Singapore (REDAS) yesterday.
The year ahead is filled with hope and some uncertainty, not just for the built environment sector that I was tossing yusheng with, but also for Singapore and the global economy.
The rabbit is known for its nimbleness. In the Year of the Rabbit, my hope for all of us is that we can face the uncertainties ahead with wisdom, decisiveness, and speed. 希望大家能够动如脱兔，而不要留在原地守株待兔！
- Joined
- Jul 14, 2008
- Messages
- 88,961
- Points
- 113
- Joined
- Jul 14, 2008
- Messages
- 88,961
- Points
- 113
Heng Swee Keat
8 h ·A roaring start to the lunch with a special lion dance performance.
(MCI Photo by Liu Ying)
- Joined
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Heng Swee Keat
9 h ·Catching up with some members from REDAS before lunch. I am glad that REDAS is playing an active role, from being part of the earlier Digitalising Built Environment Alliance for Action to introducing an implementation guide for Integrated Digital Delivery.
(MCI Photo by Liu Ying)
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Heng Swee Keat
10 h ·Dedicating a toast with members from the REDAS Management Committee 2023/2024. Wishing everyone happiness and success in the year of the Rabbit!
(MCI Photo by Liu Ying)
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HSK is glad to hear from residents. 
More CNY celebrations in Bedok today!
Despite the drizzle, we had a strong turnout of residents at the pavilion near Blk 58 Market & Hawker Centre to watch the rousing lion and dragon dance performances!
Glad to hear from residents that they have been thoroughly enjoying their CNY celebrations so far. Also distributed another round of oranges to our stallholders at the market.
May our shopkeepers have an abundance of good health and prosperity this Year of the Rabbit!
Heng Swee Keat
1 h ·More CNY celebrations in Bedok today!
Despite the drizzle, we had a strong turnout of residents at the pavilion near Blk 58 Market & Hawker Centre to watch the rousing lion and dragon dance performances!
Glad to hear from residents that they have been thoroughly enjoying their CNY celebrations so far. Also distributed another round of oranges to our stallholders at the market.
May our shopkeepers have an abundance of good health and prosperity this Year of the Rabbit!
- Joined
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- 113
from straitstimes.com:
The supply of public housing has been ramped up, with more than 23,000 flats launched in 2022, and up to 23,000 more flats will be launched in 2023. PHOTO: ST FILE
Grace Leong
Senior Business Correspondent
UPDATED
28 JAN 2023, 5:32 AM SGT
FacebookTwitter
SINGAPORE - Home owners are facing a double whammy of higher home prices and rising mortgage rates even after two rounds of property cooling measures, Deputy Prime Minister Heng Swee Keat said at the Real Estate Developers’ Association of Singapore’s (Redas) annual spring festival celebration on Friday.
Warning of a need to guard against a sustained increase in prices that is not backed by income and other fundamentals, he noted that Singapore’s property prices have remained buoyant despite global uncertainties and a greater supply. This is as demand for owner-occupied private and resale homes remains strong.
With borrowers facing larger monthly repayments on home loans, there is a need to pay attention to “the significant increases in mortgage interest rates”, said Mr Heng.
He noted that the three-month Sora, a widely used benchmark for floating mortgage rates, has shot up from 0.2 per cent to 3 per cent in the past year, and could rise further in the coming months before stabilising.
Still, the pace of home price increases has moderated in the fourth quarter and transaction volumes have also dropped.
The supply of public housing has been ramped up, with more than 23,000 flats launched in 2022, and up to 23,000 more flats will be launched in 2023.
Some 6,300 private units were added in 2022 through the government land sales programme, and another 4,100 units will come on in the first half of 2023.
New Redas president Tan Swee Yiow, in his maiden speech, noted that the past few years have been challenging for many businesses, including those in the real estate sector, with global growth slowing due to higher inflation, rising interest rates, and disruptions resulting from the Ukraine war.
The outlook for 2023 remains challenging as the global economy is projected to slow further this year, he said.
“In Singapore, with rising life expectancy and a low fertility rate, 25 per cent of the population is expected to be 65 and above by 2030. We need to address this demographic shift and provide sustainable urban solutions, including ones with a focus on senior living,” he said.
Mr Heng said that with the construction sector recovering and the easing of manpower bottlenecks, it is timely to refocus on the built environment sector.
“Most pressing is the need to ramp up construction productivity, for which digitalisation and tech adoption is key... The focus is not just on research discoveries, but also turning good ideas into practical industry solutions,” he said.
Mr Heng also pointed to the critical need to pivot to a much greener built environment, which today accounts for 40 per cent of annual global CO2 emissions.
“With global demand for smart and green buildings on the rise, (developers’) investment in these areas can give them an edge as they internationalise,” he said.
Home owners facing ‘double whammy’ of higher home prices and rising mortgage rates: DPM Heng
The supply of public housing has been ramped up, with more than 23,000 flats launched in 2022, and up to 23,000 more flats will be launched in 2023. PHOTO: ST FILE
Grace Leong
Senior Business Correspondent
UPDATED
28 JAN 2023, 5:32 AM SGT
FacebookTwitter
SINGAPORE - Home owners are facing a double whammy of higher home prices and rising mortgage rates even after two rounds of property cooling measures, Deputy Prime Minister Heng Swee Keat said at the Real Estate Developers’ Association of Singapore’s (Redas) annual spring festival celebration on Friday.
Warning of a need to guard against a sustained increase in prices that is not backed by income and other fundamentals, he noted that Singapore’s property prices have remained buoyant despite global uncertainties and a greater supply. This is as demand for owner-occupied private and resale homes remains strong.
With borrowers facing larger monthly repayments on home loans, there is a need to pay attention to “the significant increases in mortgage interest rates”, said Mr Heng.
He noted that the three-month Sora, a widely used benchmark for floating mortgage rates, has shot up from 0.2 per cent to 3 per cent in the past year, and could rise further in the coming months before stabilising.
Still, the pace of home price increases has moderated in the fourth quarter and transaction volumes have also dropped.
The supply of public housing has been ramped up, with more than 23,000 flats launched in 2022, and up to 23,000 more flats will be launched in 2023.
Some 6,300 private units were added in 2022 through the government land sales programme, and another 4,100 units will come on in the first half of 2023.
New Redas president Tan Swee Yiow, in his maiden speech, noted that the past few years have been challenging for many businesses, including those in the real estate sector, with global growth slowing due to higher inflation, rising interest rates, and disruptions resulting from the Ukraine war.
The outlook for 2023 remains challenging as the global economy is projected to slow further this year, he said.
“In Singapore, with rising life expectancy and a low fertility rate, 25 per cent of the population is expected to be 65 and above by 2030. We need to address this demographic shift and provide sustainable urban solutions, including ones with a focus on senior living,” he said.
Mr Heng said that with the construction sector recovering and the easing of manpower bottlenecks, it is timely to refocus on the built environment sector.
“Most pressing is the need to ramp up construction productivity, for which digitalisation and tech adoption is key... The focus is not just on research discoveries, but also turning good ideas into practical industry solutions,” he said.
Mr Heng also pointed to the critical need to pivot to a much greener built environment, which today accounts for 40 per cent of annual global CO2 emissions.
“With global demand for smart and green buildings on the rise, (developers’) investment in these areas can give them an edge as they internationalise,” he said.
- Joined
- Jul 14, 2008
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- 113
HSK enjoyed the wonderful showcase of traditional Chinese culture. 
Had the opportunity to tour the cultural exhibition at the Chinese New Year Culture Gala hosted by the Chinese Embassy over the weekend at the Flower Dome.
Enjoyed the wonderful showcase of traditional Chinese culture and heritage across dynasties, ranging from traditional costumes to tea ceremonies and beautiful artifacts.
My thanks to Chinese Ambassador Sun Haiyan and her team for the thought and effort in putting together this event.
As a globally connected, multi-racial and multi-cultural society, we must continue to appreciate the rich cultures and heritages from around the world.
Heng Swee Keat
8 h ·Had the opportunity to tour the cultural exhibition at the Chinese New Year Culture Gala hosted by the Chinese Embassy over the weekend at the Flower Dome.
Enjoyed the wonderful showcase of traditional Chinese culture and heritage across dynasties, ranging from traditional costumes to tea ceremonies and beautiful artifacts.
My thanks to Chinese Ambassador Sun Haiyan and her team for the thought and effort in putting together this event.
As a globally connected, multi-racial and multi-cultural society, we must continue to appreciate the rich cultures and heritages from around the world.
- Joined
- Jul 14, 2008
- Messages
- 88,961
- Points
- 113
Heng Swee Keat
1 d ·Face to face with a Bian Lian (face changing) performer. This performance was originally part of Sichuan opera, but has gone on to become a popular traditional Chinese art form.
(MCI Photo by Betty Chua)
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Heng Swee Keat
1 d ·Launched the Chinese New Year’s Culture Gala alongside HE Sun Haiyan, Ambassador Extraordinary & Plenipotentiary, Embassy of People's Republic of China.
(MCI Photo by Betty Chua)
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Heng Swee Keat
2 d ·Enjoyed the various performances at the gala! This was a fashion show of Chinese traditional costumes from various dynasties including the Tang, Ming and Qing dynasty .
(MCI Photo by Betty Chua)
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Heng Swee Keat
2 d ·Traditional tea processing techniques and its practices in China were inscribed on the Representative list of the Intangible Cultural Heritage of Humanity in 2022!
Was happy to participate in a traditional Chinese tea ceremony. The tea was light and fresh!
(MCI Photo by Betty Chua)
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HSK caught up with former Hong Kong Chief Executive Carrie Lam over lunch today. 
Caught up with former Hong Kong Chief Executive Carrie Lam over lunch today. Mrs Lam is a good friend of Singapore, whom I last met in August 2022 when I visited Hong Kong. We hosted her to a peranakan lunch to introduce her to our local cuisine and culture. In retirement, Mrs Lam continues to catch up with old friends in Singapore. This is testament to the strong people-to-people ties and the restoration of full connectivity between our two cities.
(MCI Photo by Liu Ying)
Heng Swee Keat
3 h ·Caught up with former Hong Kong Chief Executive Carrie Lam over lunch today. Mrs Lam is a good friend of Singapore, whom I last met in August 2022 when I visited Hong Kong. We hosted her to a peranakan lunch to introduce her to our local cuisine and culture. In retirement, Mrs Lam continues to catch up with old friends in Singapore. This is testament to the strong people-to-people ties and the restoration of full connectivity between our two cities.
(MCI Photo by Liu Ying)
- Joined
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- 113
HSK was delighted to be back at the National University of Singapore to launch the College of Design and Engineering (CDE)’s newest buildings.
Delighted to be back at the National University of Singapore to launch the College of Design and Engineering (CDE)’s newest buildings — SDE 1 and 3, and the NUS Cities Centre.
SDE 1 and 3 are retrofitted net-zero energy buildings, and blend in seamlessly with the SDE 4 building, Singapore’s first net-zero energy building which I launched in 2019. Architects, engineers, and designers worked closely to transform SDE 1 and 3. We need this inter-disciplinary approach to bring us towards net-zero, and this journey begins in the classroom. May these new buildings provide inspiration for our students and educators to develop net-zero and positive energy solutions for Singapore and the world!
Heng Swee Keat
3 h ·Delighted to be back at the National University of Singapore to launch the College of Design and Engineering (CDE)’s newest buildings — SDE 1 and 3, and the NUS Cities Centre.
SDE 1 and 3 are retrofitted net-zero energy buildings, and blend in seamlessly with the SDE 4 building, Singapore’s first net-zero energy building which I launched in 2019. Architects, engineers, and designers worked closely to transform SDE 1 and 3. We need this inter-disciplinary approach to bring us towards net-zero, and this journey begins in the classroom. May these new buildings provide inspiration for our students and educators to develop net-zero and positive energy solutions for Singapore and the world!
- Joined
- Jul 14, 2008
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Heng Swee Keat
4 h ·Touring the SDE 1 and 3 buildings. The integrated lush greenery helps to cool the environment. The buildings are cooled not by air-conditioning, but a hybrid cooling system that is low-carbon and low-energy.
(MCI Photo by Ngau Kai Yan)
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