Speech by SMS Tan Kiat How at the Singapore Institute of Surveyors and Valuers' Annual Dinner
Oct 25, 2024
Mr Mak Weng Tat, Chairman of the Singapore Institute of Surveyors and Valuers
Distinguished Guests,
Ladies and Gentlemen,
Introduction
Good evening. It is my pleasure to join you for the Singapore Institute of Surveyors and Valuers’ (SISV) annual dinner.
Since its founding, SISV has played an important role in supporting the growth of three professions –land surveyors, quantity surveyors and real estate valuers.
Your expertise contributes to the built environment and real estate sectors.
Land surveyors provide the precise measurements needed to ensure that infrastructure is built where it should be.
Quantity surveyors help project teams to manage their budgets and ensure the efficient allocation of resources.
Real estate valuers provide advice and assessments necessary to help developers and property owners make informed decisions.
In Singapore’s next phase of development, we will build underground more extensively and leverage digital technologies more intensively.
More Extensive Underground Utilities
To support our growing demands, our underground utilities network has expanded significantly over the years.
For example, the underground sewerage pipes network has grown more than 7 times, from less than 500km in 1958 to over 3,600km today.
The underground power transmission cables increased significantly from less than 100km to over 11,000km over the same period.
With more utility networks competing for underground spaces, we are going deeper.
For example, the Deep Tunnel Sewerage System runs at a depth of up to 55m underground, deeper than some of our MRT tunnels. The Transmission Cable Tunnel goes even deeper at about 60m to 80m underground.
Moving forward, new developments must be designed to better integrate with these underground utilities, and minimise the risk of damage during the construction phase.
To do so, land surveyors will need to adopt more advanced tools to collect data for accurate mapping of the increasingly extensive and complex network of underground utilities.
Quantity surveyors will also need to better understand the risks involved to provide a realistic cost estimate for future projects.
Embracing Digitalisation
Second, we need to embrace technologies that have the potential to revolutionise our work. For example,
Land surveyors used drones with advanced LiDAR sensors to map out the land on which Tengah New Town is being built. Not only were the drones able to capture more precise 3D geospatial data, they could also reach areas that were previously inaccessible.
Quantity surveyors, such as RLB, have embraced advanced digital solutions, such as a central digital database. By digitalising and aggregating various sources of data into a central database, RLB is able to tap on data analytics and machine learning to identify price trends and generate cost breakdowns for new projects faster.
Looking ahead, Artificial Intelligence (AI), especially generative AI, will offer new solutions that can further transform our work.
For instance, overseas companies such as Zillow and House Canary are developing AI-powered technologies to estimate property value.
There are also startups developing AI-powered solutions to automatically estimate the amount of construction materials needed using Building Information Models.
As more of such technologies mature, the Government will continue to support our surveyors and valuers in harnessing digital solutions.
The Productivity Solutions Grant (PSG) provides up to 50% co-funding support for pre-approved digital solutions to help local SMEs strengthen their digital capabilities. It also provides financial support to help firms re-design work processes and develop the necessary training plans to embrace new digital tools.
The SMEs Go Digital programme and Chief Technology Officer-as-a-Service provide SMEs access to market-proven and cost-effective digital solutions as well as consultants that can guide firms in their digital transformation.
I encourage firms to tap on the above support to build new capabilities if not already done so.
Building a Future-ready Workforce
To be able to deliver on our national development needs and embrace new technologies, our surveying and valuer professions will need to continue to acquire future-ready skills.
Individuals will need to be proactive in adapting to new technologies and tools, through continuous upskilling.
Some of the key areas include remote sensing technologies for land surveying, building information modelling and digital cost management software for quantity surveyors, and automated valuation models for valuers.
The Government has partnered with our Institutes of Higher Learning and industry partners, including SISV, to make available upskilling opportunities. For instance,
The BCA Academy and Institutes of Higher Learnings offer training in digitalisation, and other critical transformative skillsets.
The SISV Academy also offers various certificate courses and seminars for surveyors and valuers.
We will also need firms to encourage and support our professionals to upskill and help your firms to develop new capabilities.
To this end, firms can tap on funding support made available through various SkillsFuture schemes.
Beyond upskilling, it is crucial for us to continue to ensure a strong pipeline of surveyors and valuers.
For example, BCA has taken steps to improve the recognition of BE professionals through the ‘Building Singapore’ industry branding campaign.
We have also been encouraging firms to adopt progressive HR practices, such as providing more competitive remuneration and actively supporting employees in their career development.
I am heartened to see our BE firms, such as Mott MacDonald Singapore, been recognised in the Straits Times - Singapore’s Best Employers listing released earlier this year.
SISV has also devoted sustained efforts in attracting and developing talent into the professions.
Take the quantity surveyors for example. SISV organises regular events to keep the young professionals engaged and updated on the latest opportunities in the Built Environment sector.
SISV also put in place the Accredited Professional Quantity Surveyor scheme to recognise quantity surveyors’ competencies and chart out pathways to guide them in advancing their expertise.
Conclusion
To conclude, we will need to work together to embrace new technologies, upskill continuously and ensure that we have a strong talent pipeline, to support the next bound of national development.
I would also like to congratulate the students receiving the most outstanding graduate awards. I wish you all the best. I look forward to your contributions to the professions.
Thank you and have a good evening ahead.