APAC Realty has entered the Hong Kong market by partnering with Hong Kong Morning Dragon Company (HKMD) to expand its ERA brand in the country.
Through a franchising model, ERA Hong Kong Morning Dragon was set up. APAC Realty says that this franchise will strengthen the group’s footprint across North Asia’s key cities aside from Japan, Korea and Taiwan.
With this, the company’s network will span more than 21,900 advisors across 14 Asia Pacific countries and territories, APAC Realty says.
Residential property prices in Hong Kong have corrected by about 30% from their peak five years ago, presenting attractive entry opportunities for investors, says Marcus Chu, CEO of APAC Realty.
He adds that the expansion into Hong Kong comes at a “strategic and opportune time, amid renewed investor confidence and improving market sentiment”.
Under terms of the agreement, HKMD has the right to operate or grant memberships for the operation of ERA member broker offices in Hong Kong for an initial three-year term with effect from Jan 1, 2026. There will be an option to propose the renewal of the agreement for an additional three-year term, subject to the fulfilment of certain conditions as set out in the agreement.
HKMD is a Hong Kong-owned company founded in 2011, with operations across Hong Kong, the Greater Bay Area in China, Japan, Malaysia, Cambodia and Thailand.
Shares in APAC Realty closed 1 cent lower or 1.389% down at 71 cents on Oct 28.
