Singaporean Firm PropNex Enters Cambodia Property Market with Over 500 Sales Agents

• Sommana Yan
• 20 May 2021
• Local News
• 2650 Views

Singapore’s largest listed real estate agency PropNex has expanded its business into the Cambodian market with a headquarters in Phnom Penh and office branches in Siem Reap and Sihanoukville, according to the firm’s press release on 19 May.

The expansion will add over 500 sale agents in Cambodia and bring up the total agents of the firm to over 12,000 regionally in Singapore, Indonesia, Malaysia, Vietnam and Cambodia.

PropNex Cambodia will be helmed by Alan Neo, Chief Executive Officer, who has over 15 years of experience in the business, supported by his experienced management team.

PropNex Cambodia has already secured numerous collaborations with the reputable developers of Urban Village – a project by Hong Kong developer Urban Hub (Cambodia) Co. and is the exclusive marketing agency of D’Seaview, a mixed-use development project in Sihanoukville (Cambodia) developed by Hong Lai Huat Group Limited.

Mr Ismail Gafoor, Executive Chairman and CEO of PropNex, said that the firm is looking forward to having a brand presence in Cambodia as the kingdom is amongst one of the fastest-growing economies in Southeast Asia with an average annual GDP growth rate of 7%.

“PropNex Cambodia will charter great heights in the market and will soon be a dominant market player in the coming years, thereby creating the next big wave of professional real estate salespersons in the country. We are excited to be the leading agency in Cambodia, incorporating our success formula as we expand our brand to more countries internationally,” said Mr Gafoor.

PropNex has been a dominant leader in the market. Despite the tougher market conditions brought about by the COVID-19 pandemic, PropNex registered a record revenue of S$515.6 million for FY2020.

• Business and Market