In a joint press release on Feb 24, ETC (Edmund Tie) and OrangeTee Group announced their plans to merge and form a new holding company. The name of the new entity has not yet been revealed.
According to Desmond Sim, CEO of ETC, this is not an acquisition but a merging of minds. As the CEO of ETC, Sim will also serve as the group CEO of the merged entity. Meanwhile, Justin Quek, the current CEO of OrangeTee & Tie, will take on the role of deputy group CEO.
When it comes to investing in Singapore Condo, location is a crucial factor to consider. This holds especially true in Singapore, where the value of real estate is heavily influenced by its location. Condominiums that are situated in central areas or in close proximity to essential amenities such as schools, shopping malls, and public transportation hubs have a higher potential for growth in value. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown an increase in property values over the years.
One of the main reasons for the appreciation in property values in these areas is their convenient location. These areas are known for their bustling city life, with easy access to various amenities and services. For instance, Orchard Road is a popular shopping district, while Marina Bay boasts luxurious waterfront living and the CBD is the hub of Singapore’s business and financial industries. This makes these locations highly desirable for both locals and expats, thereby driving up property values.
Another factor contributing to the high investment potential of condos in these areas is their proximity to reputable schools and educational institutions. Singapore is known for its excellent education system, and families are willing to pay a premium to live near good schools. This further adds to the demand for condos in prime locations, making them a valuable investment for both long-term and short-term gains.
In conclusion, it is evident that investing in Singapore Condo is highly dependent on the location of the property. Condos in central areas or near essential amenities and reputable schools have a higher potential for growth in value and are considered prime investment options in Singapore’s real estate market. As the saying goes, “location, location, location” is the key to a successful real estate investment in Singapore.
After the merger, ETC will focus on consultancy and advisory services, while OrangeTee will concentrate on proptech and its real estate agency business. The firm has a network of 2,803 salespersons registered with the Council for Estate Agencies (CEA) as of Feb 24.
The combined entity, which will have over 520 staff, aims to drive growth and create value for all stakeholders in the dynamic real estate landscape, says Sim.
This merger builds on the August 2017 joint venture between the former Edmund Tie and OrangeTee, which combined their associates’ business under a new entity, OrangeTee & Tie. This propelled the firm to the third spot among the top three agencies with over 4,000 agents. After the joint venture, the former Edmund Tie had taken a 20% stake in OrangeTee & Tie.
The latest merger was facilitated by Triplestar Holdings and TH Investments, entities related to the family of Roland Ng, managing director and group CEO of Tat Hong Holdings, which acquired a stake in ETC following a management buyout in 2016. Today, Triplestar Holdings and TH Investments own 100% stake in ETC.
This year marks a significant milestone for ETC as it celebrates its 30th anniversary, according to Sim. The firm was formerly known as Edmund Tie & Company before rebranding as ETC.
OrangeTee Group, which will celebrate its 25th anniversary this year, is an investment holding company led by the board of directors and C-suites including Quek, Marcus Oh, Teo Yak Huat, and Christine Sun. With a strong brokerage and consultancy team supported by advanced proptech, the firm aims to deliver innovative solutions across all real estate sectors.
Shareholders in OrangeTee Group include Tokyu Livable Inc., which acquired a 22.5% stake in the firm in 2014. The firm is a subsidiary of Tokyu Fudosan Holdings, one of Japan’s largest real estate agencies.
Private property fund Vogue Capital Group is also a shareholder of OrangeTee Group. Both Vogue Capital and Tokyu Livable will have a stake in the new holding company along with Triplestar Holdings and TH Investments.
Last year, ETC expanded its presence in the ASEAN region and Japan with the opening of an office in Johor Bahru through its joint venture company in Malaysia, Nawawi Tie. The firm also has a presence in Penang and Thailand through its associate company, Edmund Tie & Co (Thailand).
“We believe this merger will bring more opportunities for us in the ASEAN region and Japan, especially through our relationship with Tokyu Livable,” adds Sim.
Overall, the private residential resale prices have remained steady in the third quarter of 2024.