ERA Realty sets up luxury homes division focused on GCBs

SINGAPORE (EDGEPROP) - ERA Realty Network has established a new luxury homes division that focuses on Good Class Bungalows (GCBs) as part of a move to bolster its presence in the capital markets and investment sales (CMIS) sector.

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The new division will be helmed by Douglas Wong and Gladys Foo, who take on the roles of senior director and director of CMIS, luxury homes, respectively. They will report to Steven Tan, managing director of CMIS at ERA. Wong has accrued more than 26 years of work experience in the Singapore real estate industry. To date, he has marketed approximately one million sq ft of GCB land valued at about $1 billion and sold around 73 GCB units, ERA says in a June 7 press release.

Meanwhile, Foo has 17 years of experience in the real estate industry, including 10 years focused on serving high net-worth individuals (HNWI) in the ultra-luxury sector. She has worked with Wong for 16 years in the GCB sector.

Marcus Chu, CEO of APAC Realty and ERA Asia Pacific, says the firm sees potential in the GCB sector and looks to leverage its database of ultra-HNWI individuals. “Together with the CMIS department, we seek to continue providing professional services to our clients and transform our organisation into a professional consultancy and agency company,” he says.

ERA’s CMIS department has also set up a workspace and culture team, headed by director of CMIS Desmond Lim. The team will focus on commercial and industrial leasing. “The team will procure marketing appointments, orchestrate marketing journeys and work with all ERA trusted advisers to market spaces and increase their exposure and opportunities in the business space arena,” adds Chu.