UOL Group Chief Executive Liam Wee Sin (centre) and partners signed the MOU at the BCA-REDAS event with Minister for National Development Desmond Lee (second from right) as witness during the signing ceremony.
Photo: BCA-REDAS
UOL signed a Memorandum Of Understanding (MOU) with its partners United Tec Construction and P&T Consultants to cement the strong alliance to bring about transformation in the built environment industry.
The signing ceremony held on 12 January 2023 was witnessed by Minister for National Development, Mr Desmond Lee, at the BCA-REDAS Built Environment and Property Prospects Seminar, which was organised by the Building and Construction Authority (BCA) and Real Estate Developers’ Association of Singapore (REDAS).
UOL Group Chief Executive Liam Wee Sin said: “The COVID-19 pandemic has highlighted the challenges faced by the built environment industry, which is fragmented and susceptible to supply chain disruptions. There is a crucial need to strengthen collaboration across the value chain in the ecosystem to integrate different functions, increase productivity and build resilience.
“As a developer, we understand that we are a key player in helping to realise the transformation of the built environment industry. UOL is committed to working closely with our partners to unlock value collectively and deliver positive impact to all our stakeholders.”
The MOU lays out possible collaborations to collectively challenge and redefine industry standards by taking a value chain approach to transformation and proliferating best-in-class practices to the industry. They include developing a multi-year work plan on value chain transformation, enhancing construction productivity, and integrating project planning and building design using digital technologies.