PropNex appoints new CEO

Ismail Gafoor will remain as the company’s Executive Chairman, the company said.

Real estate firm PropNex Limited announced that its Deputy CEO, Kelvin Fong, will now take over the CEO position as Ismail Gafoor steps down.

Gafoor will remain as the company’s Executive Chairman, the company said.

Meanwhile, PropNex celebrated its 25th anniversary with over $30m in philanthropic initiatives and a leadership transition as it enters its next chapter of growth.

PropNex made a landmark contribution of $6m to the Community Chest as part of the SG60.

It also signed a memorandum of understanding with the Community Chest pledging to donate $1.5m annually from 2025 to 2027.

The company also launched the PropNex Foundation with an initial endowment of $10m with the intent to grow the endowment to $25m over the next 10 years. It awarded $254,000 in PropNex Education Awards to 160 students in 2025.

Gafoor also launched his new book in time for the company’s 25th anniversary, with proceeds from the sales at bookstores going to The Straits Times School Pocket Money Fund. An initial donation of $25,000 was made to mark the launch.

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