ERA Realty brokers 15 new developments in seven months

/ EdgeProp
August 8, 2018 3:04 PM SGT
Property brokerage firm ERA Realty launched 15 new developments in the first seven months of the year, and have sold 8,625 units, according to its Singapore-listed parent company, APAC Realty.
Another 10 projects, comprising 4,383 units, are set to be launched in the next five months, signifying “growth potential for the Group and more opportunities for ERA salespersons”, says Jack Chua, CEO of APAC Realty, a real estate services provider. ERA salespersons achieved an average income of $36,629 per salesperson in 1H2018, a 41% increase compared to $25,935 for 1H2017.
In its results announcement, APAC Realty also said that an increase in brokerage income was a large contributor to the 8.7% improvement in its net profit for the half year ended June 30, 2018.
The company recorded a net profit of $13.6 million for 1H2018, compared to $12.5 million in net profit for 1H2017. The improvement came on the back of a 37.4% increase in revenue to $227.3 million for 1H2018.
Chua says that while the latest property cooling measures “might have dampened local property demand, our strategy is to strengthen and grow our presence in the Asia-Pacific region going forward”. He adds: “We are also looking to expand our range of services and enhance our technological capabilities.”