Media Statement | AML/CFT Framework in the Real Estate Sector | 1 Apr 2025

Media Statement
In Response to the Legislative Amendments to Strengthen Singapore’s AML/CFT Framework in the Real Estate Sector

The Real Estate Developers’ Association of Singapore (REDAS) supports the Government’s ongoing efforts to strengthen Singapore’s framework on anti-money laundering (AML) and counter financing of terrorism (CFT).

REDAS recognises the need to ensure that Singapore remains a trusted and transparent business hub. We understand that these enhancements are part of broader efforts to align our real estate sector with global standards, and to safeguard the integrity of our financial and built environment ecosystem.

The proposed measures provide added clarity in addressing areas such as proliferation financing and targeted financial sanctions. REDAS sees this as an important necessity to reinforce good practices within the industry and foster stronger awareness of compliance responsibilities within the industry. To ensure broad-based compliance, it may be helpful for the Government to consider support, particularly for smaller firms, to defray costs.

We are committed to working closely with the authorities to support our members in understanding and adopting these enhancements. REDAS will continue to raise awareness, provide education and training opportunities, and serve as a bridge between policymakers and industry practitioners. Through collaboration, we aim to ensure our sector remains resilient, forward-looking, and well-governed.

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About REDAS
Established in 1959, the Real Estate Developers’ Association of Singapore (REDAS) is Singapore’s premier business association in the real estate and development industry, representing over 200 members comprising developers, landlords, builders, consultancies and professionals, financiers, REITs sponsors and investors. REDAS actively engages regulators, policy makers and stakeholders to promote best practices and to support the growth of a vibrant, inclusive and progressive real estate industry in Singapore. For more information, visit www.redas.com.