News

Commercial Property Residential Property

Staff Reporter

, Southeast Asia

Published:

3 years ago

281 views

Marcus Chu, CEO of APAC Realty and ERA Asia Pacific, and Pham Thanh Tuan, CEO of ERA Vietnam (Photo from APAC Realty)

APAC Realty acquires 22% stake in ERA Vietnam for $4.9m

The acquisition will bring APAC Realty’s total stake in ERA Vietnam to 60%.

APAC Realty has increased its stake in ERA Vietnam to 60% following its acquisition of an additional 984,697 shares which represents 22% of the latter’s issued share capital.

The real estate services provider acquired the shares for $4.9m.

In February 2020, APAC Realty acquired a 38% stake in ERA Vietnam.

“The growth capital extended during our initial investment was the catalyst which sparked ERA Vietnam’s tremendous growth over the past two years both in terms of revenue and agent headcount,” Marcus Chu, APAC Realty CEO, said.

ERA Vietnam is amongst the top 10 real estate agencies in Vietnam with close to 3,900 salespersons as of end-2022. In the first nine months of 2022, the agency recorded a revenue of $7.0m (VND117.3b).

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