SINGAPORE (EDGEPROP) - APAC Realty, which operates the ERA brand, announced on March 21 that it had entered into a ERA Master Franchise Agreement with ERA Laos Co. Ltd.

Under the Agreement, ERA Laos is granted exclusive rights to operate or grant memberships for the operation of ERA member broker offices in Laos. The agreement is for an initial term of 25 years commencing from March 21 and may be renewed for a further 25 years subject to the fulfilment of certain conditions as set out in the agreement.

This brings to four the number of countries that APAC Realty has a presence in, in IndoChina. These are Thailand, Vietnam, Cambodia and Laos.

APAC Realty possesses the exclusive ERA regional master franchise rights to 17 countries and territories in Asia Pacific. With the addition of Laos, the group now has a network of more than 21,900 agents in 647 offices across 11 countries and territories.

“We are delighted with our foray into Laos through a franchise model as it deepens our foothold in the Indochina Peninsular and advances our strategic regional growth plans with a capital-efficient approach. We have every confidence in Ms Manisone Saysompheng, CEO, ERA Laos, and her capable and experienced team as they endeavour to deliver quality growth in the post-pandemic era,” said Marcus Chu, CEO, APAC Realty.