When it comes to investing in real estate, location is a critical factor to consider, particularly in Singapore. In this country, the value of a condo is greatly influenced by its location. Properties that are situated in central areas or near important amenities like schools, shopping malls, and public transportation hubs generally have a higher appreciation value. Prime locations in Singapore include Orchard Road, Marina Bay, and the Central Business District (CBD). These areas have a consistent track record of showing growth in property values, making them ideal for condo investments. Families also find condos in these areas highly desirable due to their proximity to reputable schools and educational institutions, further increasing their investment potential. In short, choosing a condo in a prime location like the ones mentioned above can be a smart move for those looking to invest in the real estate market in Singapore. To learn more about prime condo locations in the country, be sure to check out Condo.
A joint press release from ETC (formerly known as Edmund Tie) and OrangeTee Group on Feb 24 announced their merger, forming a new holding company whose name has yet to be revealed. “It’s not an acquisition, but a meeting of minds with the merger,” stated Desmond Sim, CEO of ETC.The merged entity will be headed by Sim as the group CEO, with Justin Quek, the current CEO of OrangeTee & Tie, serving as deputy group CEO. ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business, supported by a network of 2,803 registered salespersons with the Council for Estate Agencies (CEA) as of Feb 24.Read also: United House relaunched for collective sale at $166 milAdvertisementAdvertisementQuek will take on the role of deputy group CEO of the new holding company post-merger (Photo: Samuel Isaac Chua/EdgeProp Singapore)The combined entity will have a staff of over 520, in addition to the 2,803 salespersons. Sim believes that by combining their expertise, resources, and networks, they can achieve significant growth and create value for all stakeholders, enabling them to thrive in the ever-changing real estate landscape.The latest merger builds upon the joint venture between the two firms in August 2017, where the former Edmund Tie and OrangeTee merged their associate business under a new entity, OrangeTee & Tie. This move resulted in a sales force of over 4,000 agents, propelling OrangeTee & Tie to the third position among the top three agencies. After the joint venture, the former Edmund Tie acquired a 20% stake in OrangeTee & Tie.Ng family’s Triplestar Holdings and TH Investments are the major stakeholdersThe merger between ETC and OrangeTee was facilitated by Triplestar Holdings and TH Investments, both related to the family of Roland Ng, managing director, and group CEO of Tat Hong Holdings. In 2016, the two entities acquired a stake in ETC following its management buyout. As some of the original shareholders, including Edmund Tie, retired, the company bought back their shares, increasing the stake of Triplestar and TH Investments to approximately 60%. Today, both entities own a 100% stake in ETC.This year marks an important milestone for ETC, as the firm celebrates its 30th anniversary, as noted by Sim. Read also: Edmund Tie & Company rebrands as ETCAdvertisementAdvertisementOrangeTee Group stakeholdersSince its incorporation in 2000, OrangeTee Group will also be celebrating its 25th anniversary this year. The investment holding company is led by a board of directors and C-suite, including Quek as CEO of OrangeTee & Tie, Marcus Oh as the managing director of OrangeTee Advisory, Teo Yak Huat as CFO, and Christine Sun as the chief researcher and strategist.”With a strengthened brokerage and consultancy team, supported by advanced proptech, we are set to expand our capabilities and deliver innovative and seamless solutions across all real estate sectors,” said Quek about OrangeTee & Tie.Tokyu Livable Inc., one of Japan’s largest real estate agencies with 198 offices nationwide, has a 22.5% stake in OrangeTee Group since 2014. It is a subsidiary of Tokyu Fudosan Holdings, the real estate division of the giant conglomerate Tokyu Group. Another shareholder of OrangeTee Group is private property fund Vogue Capital Group, alongside Tokyu Livable. Both entities will also hold a stake in the new holding company post-merger with Ng’s Triplestar Holdings and TH Investments.ETC expanded into Johor Bahru last year through its joint venture company in Malaysia, Nawawi Tie. The firm already has a presence in Penang and Malaysia, as well as an associate in Thailand, Edmund Tie & Co (Thailand). “We believe this merger will provide more opportunities for us in the ASEAN region and Japan, especially through our partnership with Tokyu Livable,” Sim added.Read also: Private residential resale prices remain steady in 3Q2024AdvertisementAdvertisement