Metro Homes Realty Bhd

Metro Homes has taken an unusual step to ensure its longevity and move it out of its current sphere of a family business. "We are the first agency to be granted Bhd [public limited company] status by [The Board of Valuers, Appraisers, Estate Agents and Property Managers]," says See Kok Loong, executive director of Metro Homes Realty Bhd, formerly M... etro Homes Sdn Bhd. "This will allow greater growth of the company. A private limited company, or Sdn Bhd, is allowed a maximum of 50 shareholders. But a public limited company [Bhd] can have more than 50 shareholders. There are two types of public limited companies - listed and non-listed - and Metro Homes Realty Bhd, which commenced operations this month, is the latter. With this new status, See says Metro Homes will be able to compete in the more competitive market since the liberalisation of 2014. One result of this was allowing foreign retail real estate companies to enter the local market. Advertisement "There are two public-listed retail real estate agencies from Singapore now operating here through licensing or franchise," says See. "Retail real estate is for normal day-to-day transactions and usually refers to individual sales. Corporate real estate refers to institutional sales such as real estate investment trusts, corporate rental for expatriate staff and so on. As Metro Homes focuses on retail real estate, increased competition is inevitable. To compete, See believes the company needs to get bigger. Another reason for the change is to retain talent. "Over the years, we have trained a lot of licensed negotiators. After they get their licence, where do they go? They open a new agency and compete with us," See says. "Because there is no room to stay with us. Now, with the bigger entity, there is room. This is one reason I told the board I want to get a Bhd because I want the registered negotiators to stay with me." In addition, See wants to ensure that the company continues long after he and his brother - Datuk See Kok Seng, also an executive director in ...Read More