NUS has established the Ng Teng Fong Professorship in Real Estate in honour of the late Mr Ng Teng Fong, Far East Organization’s founding Chairman and visionary property tycoon admired for his sharp business acumen and excellence in real estate.
The Professorship seeks to attract outstanding talented academics who are able to combine research initiatives in the fields of real estate economics and finance with teaching, so as to equip and empower students for challenges in an increasingly sophisticated real estate industry in Singapore and the world.
The S$5 million Professorship is made possible by an earlier S$10 million gift from Far East Organization, Singapore’s biggest private property developer, to the NUS Institute of Real Estate Studies (IRES). IRES is a University-level research institute focused on being a leading global knowledge centre on Asia’s real estate issues, through the promotion of research excellence, international partnerships and industry collaborations.
Far East Organization’s generous gift also supports IRES’ research in areas such as “green” real estate developments in Singapore and Asia, Asia’s ageing population, housing finance, financial stability and real estate markets.
Professor Deng Yongheng, Director of IRES, said: “The late Mr Ng Teng Fong was a leading pioneer of Singapore’s real estate community who exemplified the values of entrepreneurship, courage, determination and perseverance. Through the Ng Teng Fong Professorship in Real Estate, we hope to preserve Mr Ng’s legacy by inspiring and nurturing future generations of real estate leaders who will go on to make significant contributions to the industry, Singapore and the community.”
Mr Philip Ng, Chief Executive Officer of Far East Organization, thanked NUS and IRES “for endowing the Ng Teng Fong Professorship in Real Estate as a meaningful way to remember our father and his love and passion for real estate. It is our hope and fervent prayer that the Professorship will provide opportunities to spur continued excellence in real estate education and research in Singapore.”
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This article was first published on 5 November 2013 in NUS News at http://news.nus.edu.sg/highlights/6975-nus-sets-up-ng-teng-fong-professorship-in-real-estate