PropNex has announced its regional expansion into Cambodia, its fourth overseas market following Malaysia, Indonesia and Vietnam.
According to a press release dated May 19, the expansion sees the group’s salespersons headcount growing to over 12,000 regionally, with Cambodia making up almost 500.
Alan Neo was named CEO of PropNex Cambodia and will helm the master franchise.
PropNex Cambodia’s headquarters are in Phnom Penh along with branch offices in Siem Reap and Sihanoukville.
“PropNex Singapore has a dominant brand presence and is our preferred partner of choice to further establish ourselves in the Cambodian Real Estate market. Having evaluated many options, I believe PropNex’s trainings, advanced IT platform and support system can value-add our service to our salesforce. We are excited to embrace the dual career path, a commission scheme model which PropNex pioneered in 2000 to much success and which was subsequently adopted as the industry practice in Singapore,” says Neo. Meanwhile, PropNex executive chairman and CEO Ismail Gafoor says that the move is in line with the group’s goal to be a leading regional real estate agency. “We are excited to be the leading agency in Cambodia, incorporating our success formula as we expand our brand to more countries internationally,” he says.
Projects secured by PropNex Cambodia tod ate include numerous collaborations for Urban Village, a project by Hong Kong developer Urban Hub (Cambodia) Co. It is also the exclusive marketing agency of D’Seaview, a mixed-use development project in Sihanoukville, developed Singapore’s Hong Lai Huat Group.
Meanwhile, PropNex also reported that 30 of its Singapore salespersons recorded more than $1 million in gross commissions each for FY2020, marking a record high.
Shares in PropNex closed 2 cents or 1.7% higher at $1.20 on May 18. Source: The Edge Singapore