Singapore, 20 November 2020 – Real Estate Developers’ Association of Singapore (REDAS) and KPMG in Singapore signed a collaboration agreement towards the creation of a developer-centric Integrated Digital Delivery (IDD) dashboard.
Aligned with the direction and focus of Building and Construction Authority (BCA) IDD Steering Committee and Digitalising Built Environment (BE) Alliance for Action (AfA), this collaboration aims to quicken the pace of digitalising the entire BE sector collectively and effectively.
Minister of State in the Prime Minister’s Office and the Ministry of National Development, Tan Kiat How, witnessed the signing ceremony of the Memorandum of Understanding (MoU) for this partnership as the parties inked the agreement at a joint webinar held on 16 November 2020.
REDAS has been working closely with BCA to drive Singapore’s Construction Industry Transformation Map (ITM) since 2015, by facilitating private development projects to adopt BIM and Virtual Design and Construction (VDC) to digitalise their operations.
The dashboard project seeks to provide assistance and support for the small- and medium-sized developers to adopt BIM and VDC, thereby hastening transformation of the entire BE sector. In today’s context, the COVID-19 situation has created a greater and urgent need for value chain players to adopt IDD for more optimal outcomes.
The IDD dashboard, which is planned as a proof of concept project, is expected to extract key relevant data from various digital platforms used across the four stages of design; fabrication; construction and asset management; as well as operations to allow for developers to manage the life cycle of their projects at a glance.
The dashboard intends to incorporate elements of benchmarking against industry norms as well as the use of AI to prompt for a call for action in areas of concern. KPMG is assisting REDAS to evaluate which technology providers can provide REDAS with the optimal solutions required to develop the dashboard, as well as strategise the initial go-to-market plan.
Chia Ngiang Hong, President of REDAS, shared, “REDAS can play a vital and constructive role to help facilitate and accelerate the pace of digitalisation by private sector developers. Today, more than 90 per cent of the Gross Floor Area (GFA) of new projects have gone into digitalisation. But as they are mostly larger projects of more than 5,000 square metres, they make up less than 20 per cent of total number of projects, and are largely undertaken by the bigger and more established private developers and the public sector. The smaller- and mid-sized developers will need some assistance and support, and the REDAS developer-centric IDD Dashboard initiative seeks to achieve that.”
Ong Pang Thye, Managing Partner of KPMG in Singapore, added, “This joint project intends to drive digital transformation and elevate Singapore’s BE sector by closing the gaps in IDD adoption to accelerate digitalisation. This shows KPMG’s commitment to work closely with the Government of Singapore, REDAS and various associations to be part of the country’s vision of an integrated, future-ready built environment.”
– Construction+ Online