By Lily Teh on August 30, 2017
Set to be the third largest associate agency in Singapore, the joint venture of the associate divisions of OrangeTee and Edmund Tie & Company (SEA) will be a force of 4,000 strong sales persons to be reckoned with.
According to Ms. Ong Choon Fah, Edmund Tie & Company’s Chief Executive Officer, both entities are well-established industry brands recognized for their strong work ethics and high levels of professionalism. “The similarity of organizational cultures is a good start towards a successful merger that is sustainable over the long term,” she said, and believes both firms will complement each other well based on their strengths and capabilities.
The company believes that to perform well and create economies of scale to enhance productivity and cost effectiveness, it is important to harness adequate manpower with broad skill sets for market coverage and penetration, and leverage on technology to maximize efficiency and effectiveness.
According to OrangeTee’s managing director, Mr. Steven Tan, he believes that real estate and the wider economy are going through structural changes. While digitization and the sharing economy have disrupted many traditional modes of commerce, the market has responded by consolidating and rationalizing, he continued. “In today’s on-demand economy and the context of digital disruption, the importance of harnessing technology to provide greater value and respond to clients quickly is critical to secure a competitive advantage.” he further explains.
In today’s on-demand economy and the context of digital disruption, the importance of harnessing technology to provide greater value and respond to clients quickly is critical to secure a competitive advantage – Steven Tan, OrangeTee MD
The new union will see agents being able to successfully leverage on the resources of both companies of innovative technology, project marketing opportunities and comprehensive training programs. With the combined portfolio, OrangeTee & Tie has more than 50 existing residential projects, and at least 6 upcoming launches comprising more than 5,000 units.
Expressing confidence of the merger, Tan commented “This merger has been a carefully considered exercise, and we have planner for a growth trajectory that will propel us to become a leading agency in Singapore, both through organic growth and mergers and acquisitions.”