Singapore’s APAC Realty buys new 22% stake in ERA Vietnam
APAC Realty has increased its holding in ERA Vietnam to 60% by acquiring another 22% of the Vietnamese real estate agency for almost $3.7 million.
The Singaporean realty services provider has bought an additional 984,697 shares of the Vietnamese firm in its latest investment, APAC Realty announced Monday.
“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,” said Marcus Chu, APAC Realty CEO.
“We are confident that our second investment will support ERA Vietnam’s next phase of growth and allow us to realize greater value for APAC Realty shareholders over the long term,” he said.
In February 2020, the Singaporean firm acquired a 38% stake in ERA Vietnam. The latter is among the top 10 real estate agencies in Vietnam with almost 3,900 salespersons as of the end of 2022.
In the first nine months of 2022, the agency posted a revenue of VND117.3 billion ($5 million), much higher than its 2020 revenue of VND74.3 billion ($3.17 million).
Ho Chi Minh City-headquartered ERA Vietnam secured 34 new home projects in 2021, positioning it among the top 5 brokerage agencies in southern Vietnam. It obtained marketing appointments for 30 new home projects in 2022, APAC Realty said.
For its 2023 pipeline, ERA Vietnam has achieved marketing mandates for 23 new home projects with a total of 6,460 units. The list includes The 9 Stellars by domestic developer Son Kim Land, Zeit River Thu Thiem by South Korea’s GS E&C, Cadia by Vietnamese developer Phat Dat Real Estate, ID Junction by Vietnamese firm Tay Ho, and Grand Marina Saigon by Masterise, another domestic developer.
The named projects are in the Greater Ho Chi Minh City region and the central province of Binh Dinh.

An artist’s impression of Zeit River Thu Thiem in HCMC, developed by South Korea’s GS E&C. Photo courtesy of the company.
“The outlook for real estate agencies remains bright. While there is an abundant supply of unsold units in Ho Chi Minh City, demand for well-located quality new homes by reputable local and international developers continues to be strong with home buyers and investors,” said ERA Vietnam CEO Pham Thanh Tuan.
Absorption of new homes projects across the city remained healthy at 52% in the first nine months last year, and rental yields in popular areas like districts 1, 2, 7, and Binh Thanh ranged from 4.0% to 7.0% in the third quarter of last year, he said.
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