Singapore-listed real estate agency PropNex Ltd has made its debut into the Kingdom, its fourth overseas market following Malaysia, Indonesia and Vietnam, it said in a press release on May 19.
The expansion brings PropNex’s salesforce to over 12,000 across Singapore, Indonesia, Malaysia, Vietnam and Cambodia, The Edge Singapore reported.
With 15 years of experience in the business, Alan Neo will take on the role of CEO and oversee PropNex Cambodia, which has 500 sales staff and is headquartered in Phnom Penh, with branch offices in Siem Reap province and Sihanoukville.
He said: “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 [internet technology] 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.”
PropNex executive chairman and CEO Ismail Gafoor noted that the move is the next step in the group’s ambitions 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 said.
PropNex Cambodia has also partnered with Hong Kong developer Urban Hub (Cambodia) Co on Urban Village – a mixed-use development spanning 760,000sqm on Hun Sen Boulevard in the capital.
It is also the exclusive marketing agency of D’Seaview, a mixed-use development project in Sihanoukville, developed by Singapore’s Hong Lai Huat Group.