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APAC Realty partners with Upper Room Realty for Philippine expansion

The Philippines is APAC Realty’s 13th country in its Asia Pacific portfolio, and the 40th globally.

APAC Realty Limited announced its expansion in the Philippines through an ERA Franchise Agreement with Upper Room Realty (Phils.) Inc.

Under the agreement, Upper Room will have the right to operate or grant memberships for the operation of ERA member broker offices in Metro Manila. This will have an initial 15-year term with effect from 4 May. 

APAC Realty said it can purchase up to 20% of Upper Room’s shares at a price determined by an independent valuer within three years from the franchisee agreement date.

Upper Room has the option to be granted exclusive and extended to the rest of the Philippines, subject to additional fees and certain conditions.

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APAC Realty CEO Marcus Chu said the Philippines is the 13th country in ERA Asia Pacific's portfolio, and the 40th under the ERA global umbrella.

ERA Manila’s office will be located at Century Spire Tower in Makati, Manila. It will be led by Wealth Bourne Larida Gillego, and Arnel Almo Dela Rosa, who will be chairman, and president, respectively. 

“ERA Manila will adopt the highly successful business model and systems of ERA Singapore, and focus on Metro Manila in our first three years of operation,” Gillego said, adding that up to 1,000 salespersons will be hired in the first three years.

Gillego said ERA Manila will initially focus on the residential market, working closely with developers such as Rockwell Land, Arthaland Corporation, SM Development Corporation (SMDC), Robinsons Land Corporation, and Century Properties. Another priority is Metro Manila’s resale market which continues to be driven by healthy demand from local homebuyers, he added.

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