Singapore Markets closed

ERA for sale at S$200 million

The ERA Real Estate network throughout Asia Pacific is for sale with a price tag of S$200 million, according to media reports on Monday.The Wall Street Journal, citing sources with knowledge of the situation, reported that Singapore-based Hersing Corp., which owns the franchise rights to the brand in 18 countries throughout the region, including in Malaysia, Thailand and Indonesia, has lined up five potential buyers for the business.ERA is Singapore's largest real estate agency with more than 5,100 real estate agents, according to data from the Council for Real Estate Agencies. It has more than 9,000 agents throughout the Asia Pacific region.This latest news isn't a surprise to real estate market watchers. Last month media reports surfaced indicating Hersing's Chairman, Harry Chua, was touting the business with a S$150 million price tag.Chua, a real estate industry veteran, established ERA in Singapore in 1982.Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg

Recent stories you may have missed Frustrated real estate agent starts petition against CEA HDB to develop new town building tool High prices to test buyer demand in Jurong East Call to ban overseas buyers in London

More from PropertyGuru:
Rise in private new home sales
URA launches five sites, 3,600 homes
Agent petition gathers support
HDB awards tender for Fernvale Close site