PropNex Realty ventures into Indonesia to target wealthy buyers
Group photo of PropNex CEO Mohamed Ismail with some of the agents from Indonesia.
Property agency PropNex Realty embarked on its first regional expansion into Indonesia in the second half of 2016 to access a larger pool of potential buyers, especially those interested in purchasing Singapore luxury properties.
“We witnessed an increasing number of affluent Indonesians showing large interest in Singapore properties due to the city-state’s stable environment and long-term returns on investment. This presents an opportunity for PropNex to introduce and market luxury projects in the central region,” the company said in a statement. These include OUE Twin Peaks, Gramercy Park and V on Shenton.
With over 600 salespersons, PropNex Indonesia is helmed by its Chief Executive Officer Luckyanto, Chief Operations Officer Hoo Erict, Chairman Alwin Cahyadi, and Chief Marketing Officer Lusian, all of whom have over 10 years of experience in the industry.
“Real estate consumers in Indonesia today have recognised the PropNex Indonesia brand to be synonymous with standards and professionalism. What sets us apart from other agencies in Indonesia is our dual career path, which is (the) first of its kind in Indonesia,” said PropNex Indonesia CEO, Luckyanto.
Separately, ERA Realty Network revealed that it has more than 5,000 agents in Indonesia. Responding to media queries, it also clarified that it pioneered the first dual career path programme in 1996, which allows an individual to remain in his or her role as a property agent, while at the same time being a manager and coach to other agents.
These managers, who are now addressed as division directors, can earn additional management fees from agents who close deals. How it works is the agent’s manager receives a certain percentage of ERA’s profits, which works out to about 10 percent, while 90 percent of the commission goes to the salesperson who handled the transaction.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
