Property ManagementColdwell Banker Signs Master Franchise Agreement for Singapore
agreement with Hersing Realty, Ltd., one of Singapore’s largest real estate holding companies
for development of franchised real estate offices throughout the country.
The holding company, which currently also is the master franchisee of ERA® Franchise Systems
chose the Coldwell Banker franchise system to fulfill its strategy to build larger market share.
The signing of this agreement marks the third major international expansion for
Coldwell Banker this year.
Hersing Realty, Ltd was listed on SESDAQ on March 18, 1998. It is the holding company of ERA
Singapore Pte Ltd, ERA Realty Network Pte Ltd, Realty International.
Associates Pte Ltd and ERA Hong Kong. Its operations encompass real estate brokerage,
valuation, consultancy and property management. For the first six months ending June 30,
Hersing Realty bucked the negative property sentiment and reported a positive profit growth
of 14.9% to $2.6 million.