{"id":58752,"date":"2017-06-23T07:30:15","date_gmt":"2017-06-23T00:30:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-june-2017\/"},"modified":"2017-06-23T07:42:47","modified_gmt":"2017-06-23T00:42:47","slug":"news-roundup-june-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-june-2017\/","title":{"rendered":"News Roundup (June 2017)"},"content":{"rendered":"


\nOur top Singapore property stories.
\nPropNex and DWG merge to form largest property agency
\nHomegrown real estate agency PropNex Realty recently announced its merger with Dennis Wee Group (DWG), following the signing of a memorandum of understanding (MOU) between the two companies in June.
\nThe addition of DWG\u2019s 1,071 property agents in a bulk transfer will grow PropNex\u2019s team to 6,926 agents from 5,855 previously. The transition is being undertaken with no money involved, and is expected to be completed by the end of July.
\nThe newly merged company will overtake ERA Realty Network as the largest real estate agency in Singapore. ERA Realty currently represents 6,243 agents.
\nDWG will remain a division of PropNex focusing on its global investment portfolio, sourcing, securing and investing in key developments overseas.
\nDr Dennis Wee, Founder and Chairman of DWG, will work as PropNex\u2019s Senior Strategic Partner. His son Denka Wee will become Strategic Partner to support the process of the new entity.<\/p>\n

IOI Properties and Hongkong Land to jointly develop Marina Bay site
\nIn June, Malaysian developer IOI Properties Group and Hong Kong-based Hongkong Land signed an agreement to jointly develop and manage a prime 99-year leasehold \u201cwhite\u201d site in Marina Bay.
\nThe deal, which is subject to certain regulatory approvals, will see IOI Properties holding 67 percent of the joint-venture company and Hongkong Land the remaining 33 percent.
\nThe 118,400 sq ft plot at Central Boulevard was awarded to IOI Properties after the firm submitted the top bid of $2.6 billion ($1,689 psf per plot ratio) in a Government Land Sales tender last November.
\nThe site is adjacent to One Raffles Quay and close to Marina Bay Financial Centre. A new mixed-use development is expected to be built comprising two office towers of approximately 1.26 million sq ft of leasable space and a small retail podium of about 30,000 sq ft.<\/p>\n

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\nThis article was first published in the print version PropertyGuru News & Views. Download PDFs of full print issues or read more stories now!<\/p>\n


\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…News Roundup (June 2017)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Our top Singapore property stories. PropNex and DWG merge to form largest property agency Homegrown...<\/p>\n","protected":false},"author":1,"featured_media":58753,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-58752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/06\/Marina-Bay-site_cropped.jpg?fit=611%2C378&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fhC","jetpack-related-posts":[{"id":57608,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-merges-with-dwg-to-form-largest-local-property-agency\/","url_meta":{"origin":58752,"position":0},"title":"PropNex merges with DWG to form largest local property agency","date":"June 12, 2017","format":false,"excerpt":"\r \u00a0 Homegrown real estate agency PropNex Realty announced this morning (12 June) a merger with Dennis Wee Group (DWG) following an MOU signing over the weekend. The addition of DWG\u2019s 1,071 property agents in a bulk transfer will grow PropNex\u2019s team to 6,926 agents from 5,855 previously. The transition\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60360,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/80-of-dwg-agents-crossed-over-to-propnex\/","url_meta":{"origin":58752,"position":1},"title":"80% of DWG agents crossed over to PropNex","date":"July 11, 2017","format":false,"excerpt":"\r PropNex Realty is officially the largest real estate agency with 6,688 salespersons. (Photo: Jianwei Huang) Some 845 out of the 1,063 property agents (80 percent) from Dennis Wee Group (DWG) have signed an agreement to cross over to PropNex Realty following a merger announcement in June. This means that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75763,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/slight-rise-in-number-of-property-agents-this-year\/","url_meta":{"origin":58752,"position":2},"title":"Slight rise in number of property agents this year","date":"January 4, 2018","format":false,"excerpt":"\r There are now 28,571 registered property agents in Singapore. The number of registered property agents in Singapore rose slightly to 28,571 as at 1 January 2018, up from 28,397 during the same period last year, according to data released by the Council for Estate Agencies (CEA) on Thursday (4\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/01\/10-largest-property-agencies.jpg?fit=677%2C641&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":61356,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-july-2017\/","url_meta":{"origin":58752,"position":3},"title":"News Roundup (July 2017)","date":"July 21, 2017","format":false,"excerpt":"\r Our top Singapore property stories. \u2018Bungalow in the sky\u2019 up for sale for $100m A three-storey penthouse equipped with a private pool on the 64th floor has been put up for sale for a whopping $100 million, reported Reuters. Set to become the most expensive apartment in Singapore, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/07\/HDB-flats-1024x683.jpg?fit=1024%2C683&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":68628,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-agencies-merge-tap-into-tech-as-real-estate-market-goes-increasingly-online\/","url_meta":{"origin":58752,"position":4},"title":"Property agencies merge, tap into tech as real estate market goes increasingly online","date":"October 10, 2017","format":false,"excerpt":"\r Lower commissions, developers being less dependent on agents, and digital disruption are posing threats to Singapore agencies, says industry veteran. The property agency industry has been abuzz with recent mergers and how technology is disrupting the way agents do business. It started in June when PropNex Realty announced a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90386,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-realty-aims-to-raise-40m-in-ipo\/","url_meta":{"origin":58752,"position":5},"title":"PropNex Realty aims to raise $40m in IPO","date":"June 4, 2018","format":false,"excerpt":"\r PropNex Realty\u2019s CEO, Ismail Gafoor. In a bid to replicate the success of its rival APAC Realty, Singapore\u2019s largest property agency PropNex Realty plans to launch an initial public offering (IPO) that will raise about $40 million, reported Bloomberg recently citing anonymous sources. APAC Realty raised $58 million during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/58752"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=58752"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/58752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/58753"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=58752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=58752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=58752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}