growth

APAC Realty, which operates the ERA brand, recently announced a Master Franchise Agreement with ERA Laos Co. Ltd. This collaboration grants ERA Laos exclusive rights to operate broker offices and grant memberships in Laos for an initial term of 25 years, with the potential to be renewed for a further 25 years.

The agreement expands APAC Realty’s presence in Indochina to four countries, namely Thailand, Vietnam, Cambodia and Laos. With this addition, the company now has a network of 647 offices and more than 21,900 agents across 11 countries and territories in Asia Pacific.

Commenting on the franchise, CEO of APAC Realty Marcus Chu said: “We are delighted with our foray into Laos through a franchise model as it deepens our foothold in the Indochina Peninsular and advances our strategic regional growth plans with a capital-efficient approach.”

He also expressed his confidence in Manisone Saysompheng, CEO of ERA Laos, and her experienced team to deliver quality growth in the post-pandemic era.

JCUBE is JCube Residence set to close its doors in August to make way for a 40-storey residential and commercial development JCube Condo Residence, potentially alleviating pent-up demand for housing in Jurong.

In addition to this agreement, APAC Realty possesses the exclusive ERA regional master franchise rights to 17 countries and territories in Asia Pacific.

With this move, APAC Realty is raising its stakes in ERA Vietnam and Eurocapital to 60% for $4.9 million. Such a step has prompted DBS to keep its ‘Hold’ call on APAC Realty, which expects a healthy 1H FY 2022, but more sluggish growth in the second half of the year.