>

>

/

APAC Realty extends direct control over franchises in Indonesia and Thailand

/ EdgeProp |

February 11, 2019 4:43 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

APAC Realty, the parent company of real estate agency ERA Realty Network in Singapore, will acquire the master franchisor of ERA Indonesia and take direct ownership of ERA Thailand. These regional expansions follow APAC Realty’s moves in establishing a foothold in China, Cambodia and Vietnam last year.

The company has partnered with current ERA Indonesia CEO Darmadi Darmawangsa to fund the purchase of the master franchise operations from its current stakeholders, PT ESA Realty Aditama and Moedjianto S Tjahjono. APAC Realty will lend up to $13.85 million for this acquisition. The amount comprises a convertible loan of $4.42 million and a conditional sales and purchase agreement (CSPA) of $9.43 million. The CSPA also includes a 4,664 sq ft office space in Tanah Abang in Central Jakarta.

In Thailand, APAC Realty has also entered into a cooperation agreement with Voradet Sivatachanon, who is CEO and managing director of ERA Franchise (Thailand) Co. Two new entities, APAC Holding (Thailand) Co and ERA Holding (Thailand) Co, will be formed to hold the master franchise rights for Thailand. This direct ownership will enable APAC Realty to be more strategically involved in developing ERA’s business in the country, the company says.

APAC Realty’s subsidiaries ERA Singapore and ERA Thailand will be able to tap into cross-selling benefits as the new operational structure will allow sales agents to work together to market and sell overseas properties to their customers. ERA Thailand comprises about 400 agents and records about 1,000 transactions per year on average. Meanwhile, ERA Indonesia has about 6,900 agents across 103 offices, and the company recorded IDR 10 trillion (about $965.91 million) of transactions in 2017.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Sapphire Windows’ Liews: Beyond providing a room with a view

2

Keeping cool in an east-west-facing house with modern glass windows

3

Far East Shopping Centre’s $908 mil en bloc deal aborted

4

World’s largest Mercure Hotel opens on Club Street

5

Luxury living in the new heart of Bukit Timah

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00