APAC Realty inks deal to serve rich China clients, eyes further regional expansion

SINGAPORE (Mar 19): Mainboard-listed APAC Realty is eyeing high-net-worth (HNW) Chinese clients hungry for properties in the region. On March 14, the company inked a partnership agreement with MLN Overseas (Singapore), a Chinese overseas real estate company, to provide the latter’s clients with “one-stop real estate services” for properties in Singapore, Malaysia and Thailand via APAC Realty’s subsidiary ERA Realty Network, and its affiliates in eight other Asia-Pacific countries.

MLN has seven branches in Southeast Asia. In the past two years, it has sold about 1,600 units of properties in Malaysia, Thailand and other Southeast Asian countries to Chinese customers. The company has over 1,000 units of properties in Malaysia waiting to be leased out or resold, in developments such as Forest City by Country Garden in Johor and Star Residence in Kuala Lumpur. It similarly has over 400 units to be leased or resold in Thailand, with projects including the condominiums Excel Hideaway in Bangkok and Grand Himalai in Phuket. All of these units will be marketed through ERA to potential tenants or buyers. ERA Malaysia has four offices with 150 agents, while ERA Thailand has 20 offices with 480 agents.

Meanwhile, MLN will also refer clients who want to purchase Singapore property to ERA, APAC Realty CEO Jack Chua announced at a press briefing on March 14. “Lately, we [have been seeing] an increasing number of foreign investors into Singapore, especially those from China. ERA will service all these [Chinese clients from MLN] and find properties for them,” Chua says.

---

Related Stories

• APAC Realty earnings down 68% y-o-y to $7.6 million for 9MFY2023
• Brokers’ Digest: Singtel, Apac Realty, SIA, Frencken, Raffles Medical Group, Sheng Siong, Keppel REIT, MINT
• CGS-CIMB lowers APAC Realty's TP to 57 cents following higher cost projections

---