Credai signs pact with Singapore's BCA for mutual industrial support

Realtors' body Credai on Friday said it has signed a memorandum of understanding with Singapore government's Building Construction Authority to create a platform for all the realty sector stakeholders from both the countries.

The partnership intends to mutually share knowledge and extend industrial support by imparting training, knowledge sharing, and conducting workshops, thereby making value addition in quality, technology, sustainability and productivity in the realty sector, Credai said in a statement.

"The MoU (memorandum of understanding) will create a platform for real estate companies, consultants, vendors and other stakeholders from both the countries to come together and transform the dynamics of the Indian realty sector," Credai chairman Jaxay Shah said.

Building Construction Authority (BCA) is a statutory board under the Ministry of National Development of the Singapore government, which was set up in April 1999 to develop and regulate its building and construction industry.

At present, Credai has a base of over 12,000 member developers present in 21 states and 205 city chapters across India.