PRESS RELEASES

SINGAPORE - 18 June 2024 - PropNex Limited ("PropNex", or the "Company", and together with its subsidiaries, the "Group") is proud to be ranked in the new Fortune Southeast Asia 500 list. Coming in at No. 395 with a revenue of US$624.2 million[1], PropNex was the only real estate agency in Singapore ranked in the list. 

The list, determined by total revenue for the 2023 fiscal year, is the first Southeast Asia edition of Fortune's iconic annual lists highlighting 500 top-grossing companies in various regions. This inaugural Southeast Asia list includes companies from seven nations, namely Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia which had 110, 107, 89, 84, 70,38 and two entries respectively. 

PropNex is Singapore's largest listed real estate agency with 12,629[2] salespersons as at 18 June 2024, a formidable salesforce which make up over 30% of all property agents in Singapore. From its Singapore home-base, the Group has grown through the years and is present in five overseas markets today comprising Indonesia, Malaysia, Vietnam, Cambodia and Australia. The Group has a sales force of 15,000 regionally including Singapore. 

Ismail Gafoor, CEO and Executive Chairman of PropNex, said, "We are honoured to be the only real estate agency in Singapore to be ranked in the inaugural Fortune Southeast Asia 500 list 2024. Being on this highly prestigious list is a testament to the strength of PropNex's vision and business strategies. We are encouraged by this recognition and will continue to leverage our competitive advantages, embrace innovation, and navigate the evolving market landscape with agility and resilience to capture future growth opportunities." 

[1] https://fortune.com/asia/ranking/southeast-asia-500/2024/search/?fg500_country=Singapore

[2] The Council for Estate Agencies as at 18 June 2024.