Cash-rich PropNex could sweeten shareholder returns with special dividend

“THIS year is going to be a good year,” said PropNex executive chairman and chief executive officer Ismail Gafoor, right at the start of his interview with The Business Times.

The real estate agency is bullish about its prospects this year, on the back of a Singapore property market that holds much promise.

Gafoor’s upbeat sentiment comes as PropNex celebrates its 25th anniversary this year. And the mainboard-listed company is open to dishing out a special dividend to commemorate the occasion.

The head honcho noted that the number of condominium apartments for sale this year – including unsold units from past years – would amount to about 20,000. Some 12,850 new units are expected to be launched this year, compared with only 7,300 new units rolled out in 2024.

More apartments for sale bode well for the market leader, which has the largest army of agents in Singapore – nearly 13,000 as at Jan 24.