PropNex names deputy CEO as part of revamp for future growth

Top management changes aimed at having a younger, tech-driven team leading the firm

- Ven Sreenivasan

PropNex has named a deputy chief executive officer and announced other management changes as part of what the mainboard-listed property agency says is a remaking aimed at helping the company become an even more dominant player in Singapore and the region.

The agency, which has over 45 per cent of the Housing Board and private housing launches and resale market in Singapore, unveiled a management restructuring, effective immediately, which sees executive director Kelvin Fong elevated to deputy CEO, effectively becoming the heir apparent to the executive chairman and CEO, Mr Ismail Gafoor.

It also said senior vice-president Eddie Lim has been promoted to chief agency officer. PropNex stalwarts Bobby Sng, Cijay Tew, Marcus Luah, Benjamin Tan and Ken Ng have also been moved up as agency vice-presidents, overseeing key aspects of training and operations.

PropNex traces its roots to 1996, when Mr Gafoor and his wife Nooraini Noordin set up a property agency called Nooris Consultants. It subsequently merged with Prulink Realty to become PropNex. Over the years, PropNex grew both organically and via mergers and additions as smaller agencies joined up. One of the biggest was the 2017 merger with Dennis Wee Realty.

Today, it is the biggest property agency in Singapore, with a team of about 12,000 agents, almost 40 per cent more than that of its next biggest competitor ERA. It also has about 3,000 agents in Malaysia, Indonesia and other regional markets.

Mr Gafoor said the current top management changes were part of a strategy to ensure that PropNex would be led by a younger and more energetic team, driven by technology, training and data. It would also support the company's strategy to grow the size of its team and market share.