Visited APAC Realty’s office to meet COO Marcus Chu

Visited APAC Realty’s office to meet COO Marcus Chu. He had a busy weekend with the launch of 3 prime residential developments – Fourth Avenue Residences (Allgreen), Fyve Derbyshire and RV Altitude (both Roxy-Pacific).ERA – the agency arm of APAC – was the sales leader, selling 46 units in total (40% of the units sold). The total sales of 103 units were underwhelming, no thanks to last July’s cooling measure. But volume this year will likely still be decent, given the number of displaced families from en-bloc fever (2017 till mid-2018).Share prices of both listed agencies APAC and PropNex have plummeted following the measures. In terms of valuation, APAC is more attractive, trading at 8x PE and offers a yield of 7.5%.