SINGAPORE (Feb 20): PropNex Realty has entered into a strategic collaboration with Global Alliance Property (GAP).

GAP is operated under the Century 21 franchise, a wholly-owned indirect subsidiary of China Real Estate Grp (CREG).

Under the collaboration, GAP’s salespersons will be transferred to PropNex Realty. GAP will discontinue its real estate agency business with the transfer of the salespersons to PropNex Realty. Meanwhile, CREG will continue its foray in real estate development in China.

PropNex said the collaboration further strengthens its position as “Singapore’s Number 1 largest listed real estate agency currently with over to 7,500 salespersons and stands to capture close to half of the residential market share and provides greater strength in marketing major local and international projects through its wider outreach to consumers”.

Dr Choo Yeow Ming, Chairman and CEO of CREG, says, “PropNex Realty and GAP share a culture that is aligned, embracing core values that are focused on the highest professional standards, consumer-centric service, innovation and transparency. I believe PropNex Realty will provide greater opportunities and long-term growth for our salespersons with its proven track record in the past 19 years.”

PropNex Realty works closely with developers in the marketing of residential new launches. The agency witnessed commendable performance in 2018 where its teams led in the number of transactions against the Joint Marketing Agencies (JMAs) for numerous projects.

Ismail Gafoor, CEO of PropNex Realty, says, “These newly transferred salespersons in PropNex Realty will be able to elevate their business to the next level with the presence of robust training programmes, specially crafted signature bootcamps, strong Information Technology and backroom support and the solid branding that PropNex Realty offers as the market leader in the industry. One of our key priorities is to continuously instil professional skills and in-depth knowledge of real estate market in each of our salesperson, for them to add greater value to their clients in their property portfolio management.”

Shares in PropNex closed 0.5 cent higher at 56 cents on Wednesday.