Apac Realty expands into Australia with ERA Queensland master franchise

Raphael Lim

Published Thu, Sep 28, 2023 · 08:36 AM

MAINBOARD-LISTED Apac Realty said on Thursday (Sep 28) that it is expanding into Australia, with the grant of the ERA Queensland master franchise, continuing its expansion into overseas markets.

Apac Realty, which operates under the ERA brand, said the move is in recognition of Australia’s “well-established real estate market and its significant long-term growth potential”.

ERA Queensland will have an initial team of 17 agents across three offices in Brisbane led by Alex Caraco, who will be the chief executive of ERA Queensland. It will focus on off-plan projects, high-end properties, general residential properties, property management, as well as the sale and leasing of commercial properties.

“We expect the Queensland real estate market to thrive in 2024, driven by growing demand for quality properties from Melbourne, Sydney, Adelaide, and Hobart, as well as renewed emergence of strong enquiries from Asia,” said Marcus Chu, chief executive of ERA Asia Pacific and Apac Realty.

The expansion marks the 12th market for the real estate agency, which operates in countries such as Singapore, Indonesia, Malaysia and Vietnam. In March this year, Apac Realty also said it would expand its services into Laos through a franchise agreement.

Shares of Apac Realty last traded at S$0.52 on Tuesday.