Koon Holdings acquires 51% stake in GA Property Management

Koon Holdings on Friday announced it has acquired a 51 per cent stake in Singapore-based real estate agency GA Property Management (GAPM) for S$3 million.

GAPM is an investment holding firm that owns real estate agency Global Property Strategic Alliance, which is involved in a range of real estate services including corporate leasing services, investment sales and en-bloc sales.

Managing director and CEO of Koon, Tan Thiam Hee, said GAPM’s business activities are a valuable addition to its enhanced business model, and would further support its overall growth plan.

The founders of GAPM, Jeffrey Hong and Dennis Yong, who are veterans in Singapore’s real estate, said they are confident of the long-term growth prospects and the business opportunities from this latest acquisition.

Source : Channel NewsAsia – 1 Jul 2011

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