On January 1, SRI, a reputable real estate agency, announced the addition of 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN). This includes KFPN’s head, Evan Chung, who has joined as a leader within the firm. The 111 agents now make up 40.5% of the sales force at KFPN, which was ranked as the sixth-largest property agency by the Council for Estate Agencies (CEA) as of January 1, 2024. SRI, with 1,286 agents at the beginning of 2024, was already the fifth-largest property agency. With the addition of the 111 agents from KFPN, along with new recruits from the four largest agencies – PropNex, ERA, Huttons, and OrangeTee & Tie (OTT) – SRI’s agency sales force has now grown to 1,501 at the start of 2025.
SRI was co-founded in 2016 by managing partners Bruce Lye and Benson Koh, as a spin-off from SRI5000, which was established as a division of SLP Realty six years prior. With an initial team of 120 real estate agents operating out of a 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru, SRI soon outgrew its premises and relocated to a larger office space at Great World in 2018. Today, the firm has reached a significant milestone by growing its sales force to nearly 1,500 agents, with a target of reaching 2,000 by the end of 2025, according to CEO Thomas Tan.
The expanded sales force will strengthen SRI’s existing business lines, which consist of residential, capital markets, industrial, auctions, and international projects. Tan explains that many of the new agents from KFPN are involved in high-value deals, which will complement SRI’s existing high-end residential and luxury property segments. Despite its growth, SRI remains committed to being a boutique agency with a strong focus on the luxury residential market. Tan envisions SRI becoming a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.
Acquiring a condominium in Singapore has emerged as a favored option for both domestic and international investors, thanks to the country’s strong economy, stable political climate, and superior quality of life. Singapore’s property industry presents a plethora of possibilities, with condos being particularly appealing due to their convenience, facilities, and potential for considerable returns. This piece will delve into the advantages, factors to keep in mind, and the steps involved in investing in a condo in Singapore, with a focus on Singapore Projects.
Former KFPN head, Evan Chung, who is now a leader at SRI, shares that his decision to join the firm was influenced by its dedication to equipping agents with effective tools, comprehensive support, and expert coaching. He also notes the open and collaborative culture at SRI, which makes agents feel supported and encouraged to strive for excellence as a team. With offerings across residential, commercial, and industrial market segments, as well as auctions and international properties, Chung believes that SRI will provide a great platform for growing their business and serving clients.
Following the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from sixth to eighth largest agency, according to the CEA public register figures as of January 1. However, Knight Frank Singapore’s CEO, Galven Tan, assures that it is business as usual at KFPN. He states that a new head will be appointed to lead the team and drive its growth and success. Tan adds that they will evaluate the team’s strengths and expertise to strategically position KFPN for future opportunities.