ERA on expansion path in the Asia-Pacific

/ EdgeProp Singapore
February 22, 2019 2:22 PM SGT
ERA Realty Network is growing in the Asia-Pacific, with a series of plans and initiatives announced at the ERA 2019 Asia Pacific Business Conference (APBC) held on Feb 21.
ERA held its annual business conference on Feb 21 (Credit: ERA)
It is well-supported by its growing network of real estate agents in its expansion. ERA noted an 8.9% increase in the number of agents in Singapore, from 6,102 agents in last October, to 6,643 agents this February. In the whole of the Asia-Pacific, it boasts a network of more than 17,800 real estate agents.
Jack Chua, CEO of ERA, is looking to “strengthen [its] presence in Singapore” with a 14,983 sq ft, four-storey commercial building located in Toa Payoh, which serves as ERA Asia-Pacific’s new headquarters. “Now that we have our own building, it will form part of our identity,” says Chua.
Jack Chua, CEO of ERA (Credit: ERA)
The building is expected to be ready by the end of the year. Renovation works have already begun on the third and fourth floors, which will house agents from the Zhong Shan and HDB Hub branches. The first level will be remodelled as a lounge area, and parts of it will be leased out, together with the second and third floors. There are already existing tenants on the first level such as a beauty salon and a chicken rice stall, which are “convenient for my agents”, says Chua. “We will continue to lease them out.”
ERA agents based at Mountbatten Square will move to Toa Payoh after the lease at the former location expires in two years. ERA is currently awaiting approval from URA to start on renovations for the exterior.
Artist impression of the soon-to-be-completed ERA APAC headquarter (Credit: ERA)
On the projects front, ERA sold out on 22 projects last year. It is looking to continue its streak, with more than 40 projects already in the pipeline this year, including Fyve Derbyshire, RV Altitude, The Florence Residences, and the upcoming Treasure @ Tampines. Eight new launches are planned for March alone.
Outside of Singapore, in February, ERA acquired the master franchisor for Indonesia, and took direct ownership of the master franchise in Thailand. Once the acquisition goes through for ERA Indonesia, it will be an indirect wholly-owned subsidiary of listed APAC Realty, which operates the ERA brand. The acquisition will bring with it more than 6,900 ERA agents from across 103 offices. In Japan, ERA plans to go beyond franchising in the future, says Chua.
In early January, ERA launched Plush, which enables selected agents to better cater to the increasing demands of high net worth individuals. This initiative was rolled out across ERA’s Asia-Pacific network at its Feb 21 business conference. Through training programmes, ERA agents will be able to also provide advice on asset management and enhancement, trust and will creation, as well as estate and succession planning.
“Definitely, ERA is in a position to lead and rise,” asserts Chua.