As part of its regional expansion strategy, APAC Realty acquired an initial 38 per cent stake in ERA Vietnam and Eurocapital in February 2020. Upon completion of the transaction, the group will increase its shareholding in ERA Vietnam and Eurocapital to 60 per cent each.

“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. Over this period, the agency’s management team established the ERA Vietnam brand name in Vietnam’s nascent and thriving real estate market, and more than doubled the salesperson headcount," said Marcus Chu, CEO of APAC Realty.

"With these positive results, we are confident that our second investment will support ERA Vietnam’s next phase of growth and allow us to realise greater value for APAC Realty shareholders over the long-term.”

Founded in 2017, ERA Vietnam is based in Ho Chi Minh City. The agency has grown its agent base tremendously, from less than 100 salespersons at the time of its founding to around 3,900 now.

The agency secured 34 new home projects in 2021, positioning ERA Vietnam among the Top 5 brokerage agencies in South Vietnam. The agency secured marketing appointments for 30 new home projects in 2022.

For its 2023 pipeline, ERA Vietnam has already secured marketing mandates for 23 new home projects with a total of 6,460 units.

The outlook for Vietnam’s real estate market remains positive, underpinned by continued urbanisation, stable economic environment, low unemployment, and a growing middle-class population which is expected to reach 75 million by 2030.

In its bid to become a developed country with high income by 2045, Vietnam is planning for at least 5,000km of expressways by 2030, a 1,545km cross-country high-speed railway by 2045 and intra-city metro networks to enhance connectivity and the quality of its railway and road infrastructure. This is expected to drive real estate development and enhance the value and rental yields of properties in these markets.

APAC Realty is well positioned to participate in the long-term growth of Vietnam’s real estate brokerage market and the Vietnamese economy as a whole, given its rapidly developing economy and favourable demographics.