Under the agreement on master franchise, Singapore’s PropNex Realty will acquire 25 per cent of the issued and paid up share capital of PropNex Realty Vietnam at a nominal sum of US$1.
PropNex Realty Vietnam recently entered into a master franchise agreement with PropNex Realty Pte. Ltd, pursuant to which it is appointed as a master franchisee of Singapore’s group in Vietnam to establish, manage and operate PropNex franchise agency offices in Vietnam.
The agreement is for an initial term of ten years commencing from 14 August 2018, and may be renewed for a further ten years subject to the fulfilment of the conditions.
Pursuant to arrangement, PropNex Realty will acquire 25 per cent of the issued and paid up share capital of PropNex Realty Vietnam at a nominal sum of US$1.00. Following the completion of the acquisition, PropNex Realty Vietnam will be 75 per cent owned by unrelated parties and 25 per cent owned by PropNex Realty.
The investment in Vietnam’s PropNex Realty will be funded through internal resources.
PropNex Realty Vietnam is a company registered in Vietnam and carries on the business of real estate brokerage.
As Singapore's largest listed real estate agency with over 7,000 sales professionals, PropNex is an integrated real estate services group that prides itself on delivering best-in-class services in real estate brokerage and project marketing.
Having established a strong presence in Singapore's residential market, PropNex continues to enhance and expand its suite of real estate services in Singapore and grow its operations regionally. PropNex also offers access to international markets through its partnership with leading property consultancy Jones Lang LaSalle.
The entry into the agreement is in line with the Singapore’s group’s regional expansion plans and it hopes to strengthen its market position, value-add and expand into Vietnam.
Tags:
Tags:
Hoang Huy expects revenue to exceed VND4 trillion and post-tax profit to reach up to VND2 trillion in fiscal year 2025-2026, targeting annual growth of over 30% for the next five years.
Cen Land is shifting from brokerage to development, targeting a 170% revenue increase and 424% profit growth in 2025.
Menas Group has entered a strategic partnership with Keppel to co-develop an integrated ecosystem of lifestyle services across Keppel’s real estate projects in Vietnam, beginning with the landmark Celesta City development in Saigon South.
Phuc Sinh’s expansion underscores Vietnam’s growing role in sustainable agriculture and its increasing appeal to global investors
PVI Asset Management (PVI AM) and SonKim Capital (SK Capital), a business unit of SonKim Group has announced a strategic collaboration to develop innovative real estate investment products tailored for institutional investors and high-net-worth individuals.
Filum AI has successfully raised $1 million in funding despite a challenging venture capital market, underscoring the potential of AI and shifting investment strategies.
