PropNex eyes growth beyond homes, targeting industrial and regional markets

PropNex, which currently handles about 64% of Singapore’s residential transactions, is diversifying beyond housing under the direction of executive chairman Ismail Gafoor. The firm introduced an "Industrial 2.0" training scheme in early 2026 and has already captured 46% to 61% of sales in recent industrial projects like Gate+, Generations @ Tannery and Space Nova. Gafoor sees further upside in capital-markets, valuation, leasing and the en-bloc segment, especially after regulatory reforms lowering consent thresholds for older estates.

Internationally, PropNex’s franchise business, now under 5% of earnings, will target additional Australian cities and Bangkok, aiming for a significant revenue vertical by decade’s end. Domestically, the agency targets over 70% of residential deals and a workforce of 20,000 agents, supported by S$130.2 million in cash and a focus on technology, training and professional standards.