PropNex has also wasted no time setting up a new luxury homes division headed by Douglas Wong, formerly associate director of Knight Frank’s Good Class Bungalow (GCB) arm Regal Homes.
On the performance so far, Mr Mohamed said: ‘The PropNex Grandeur Homes team is starting to show results, with five transactions closed in the core areas including Sentosa and downtown. Grandeur Homes is already serving more than 30 GCB clients and many high net-worth buyers looking to invest in Singapore.’
Mr Mohamed expects Grandeur to capture 20 per cent of all GCB sales within a year.
With the property market so active, PropNex has also seen record hires. In March, it took on a record 207 new agents.
Based on the 5,686 licences renewed, as reported to the Inland Revenue Authority of Singapore at end-2006, Mr Mohamed said PropNex is Singapore’s biggest real estate company. ‘More people are attracted to the lucrative prospect of being their own boss and the unlimited possibilities sales can bring,’ he said.
Source: The Business Times, 02 June 2007
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