SINGAPORE (THE BUSINESS TIMES) - Real estate agency PropNex on Wednesday (May 19) announced it has expanded to Cambodia, its fourth overseas market. It has also collaborated with developers for two projects in the market.
The expansion brings PropNex's salesforce to over 12,000 across Singapore, Indonesia, Malaysia, Vietnam and Cambodia.
The master franchise of PropNex Cambodia will be led by Mr Alan Neo, who will take on the role of chief executive. He has 15 years of experience in the business and will oversee PropNex Cambodia, which has 500 sales staff, with headquarters in Phnom Penh and branch offices in Siem Reap and Sihanoukville.
PropNex Cambodia has also collaborated with Hong Kong developer Urban Hub (Cambodia) Co for Urban Village - a mixed-use development spanning 760,000 sq m situated in Phnom Penh along Hun Sen Blvd.
Urban Village is adjacent to Factory Phnom Penh, which houses a kindergarten, a library, an art gallery, co-working space, retail stores, entertainment facilities, a trampoline park, a skateboard park and a German craft beer brewery.
PropNex Cambodia is also the exclusive marketing agency of D'Seaview - a mixed-use development project in Sihanoukville (Cambodia) developed by Singapore-listed Hong Lai Huat Group.
Shares of PropNex were trading 0.8 per cent or one cent lower at $1.19 as at 9.51am on Wednesday.