PropNex marks 25th Anniversary: Kelvin Fong appointed CEO; S$10M endowment fund announced

In marking the PropNex 25 year anniversary, Singapore’s largest listed real estate agency is not only celebrating its growth over the years, but also pushing forward with a bold rebranding effort, fresh leadership, and a sharpened focus on strategy and service.

Strategic leadership appointments

As part of this next phase, PropNex announced a series of leadership changes to support its long-term growth and strengthen the agency’s overall direction.

Kelvin Fong, who previously served as Deputy CEO, has stepped up to become the company’s new Chief Executive Officer. With over two decades at PropNex, he now leads day-to-day operations and business expansion efforts across Singapore and the region.

Ismail Gafoor, who co-founded PropNex and served as CEO for 25 years, has now taken on the role of Executive Chairman. While he steps back from daily management, he will remain actively involved in shaping the company’s future – guiding strategic direction, engaging with stakeholders, and leading the Board.

In addition to these changes, Dominic Lee, who has been with the company since 2006 and continues to lead the Luxury Team, has taken on the additional role of Head of Investment Sales. With his strong background in high-end property transactions and deep ties with developers and high-net-worth clients, he’ll now also focus on expanding the investment arm of the business.

At the same time, Jason Tan was named Chief Strategy Officer. With over 20 years in the real estate industry and past experience leading over 1,000 agents, Jason is no stranger to managing and scaling teams. He also co-developed several of PropNex’s tech solutions, including the Property Wealth Report and Marketplace gifting tools. In his new role, he works closely with CEO Kelvin Fong and CTO Michael Koh to support innovation and digital growth. 

Kelvin Fong’s vision as new CEO

As he takes on his new role, Kelvin Fong shared his goals for leading PropNex into its next phase of growth. His focus will be on empowering the agency’s salesforce, which now stands at over 13,000 strong in Singapore. He also aims to improve service innovation, enhance the customer experience, and boost overall operational efficiency.

In addition, Kelvin will be overseeing PropNex’s expansion efforts, both within Singapore and in key regional markets. Speaking at the press conference, he expressed his hope to grow the company’s agent count even further. He also highlighted plans to continue strengthening PropNex’s tech capabilities, ensuring the agency remains agile and competitive in a fast-changing property landscape.

Gafoor’s legacy as outgoing CEO

As Ismail Gafoor steps into his new role as Executive Chairman, he leaves behind a strong legacy as the CEO who helped shape PropNex into what it is today. Over the years, he played a central role in growing the company into a market leader in Singapore’s real estate sector.

Under his leadership, PropNex achieved a key milestone by listing on the Singapore Exchange in July 2018. He also drove the agency’s regional expansion, building a presence in Indonesia, Malaysia, Vietnam, Cambodia, and Australia.

Today, the PropNex network includes over 16,000 real estate professionals across the region – a clear reflection of Gafoor’s long-term vision and steady leadership.

Stronger corporate governance through new structure

With the leadership transition, PropNex also shared that the separation of the roles of CEO and Executive Chairman is designed to strengthen the company’s governance.

This new structure allows for a clearer division between oversight and day-to-day management, improving transparency and accountability. It also enhances the independence of the Board and supports more effective, balanced decision-making at the top level.

A brand-new look for the next chapter

After 25 years in the business, PropNex rebranding efforts were officially revealed at the recent Sales Summit – an event that drew over 4,000 salespersons and guests. At this gathering, the agency introduced its new logo, which marks the first major change to its brand visuals since its founding in 2000.

But this update isn’t just about design. The refreshed look represents PropNex’s commitment to staying relevant in a changing market. You’ll notice the changes not only in Singapore but across PropNex’s regional markets as well. This rebranding is meant to reflect a renewed focus in three key areas: giving you a better customer experience, stepping up on digital tools, and strengthening its presence across the region – where the brand now supports more than 16,000 salespersons.

What the new logo stands for

PropNex’s new logo features an upward-pointing triangle – a symbol of progress and leadership in the real estate industry. It signals the company’s goals to grow continuously and lead confidently in the market.

Beneath that, three darker stacked triangles can be seen. These aren’t just design elements. They represent the company’s core foundations:

• Mission: To improve lives through professional and value-driven service.
• Core values: These include self-improvement, personal ownership, respect, and integrity – all of which you’ll see reflected in how PropNex agents work with you.
• People: From agents to team leaders, staff, and management, the logo pays tribute to everyone who has contributed to PropNex’s journey.

This new identity brings forward the message that while the brand is evolving, its principles remain deeply rooted.

Ongoing commitment to education and CSR

If you’ve ever attended a PropNex seminar, you’ll know that consumer education is a big part of what the company does. More than 100 sessions are run each year – from the Property Wealth System Masterclass to major XPOs – giving you the insights and tools needed to make confident property decisions. These events, often led by now CEO Kelvin Fong, attract thousands of attendees annually.

Launch of the PropNex Foundation and endowment fund

To mark its 25th anniversary, PropNex launched a new initiative close to its heart – the PropNex Foundation, supported by a S$10 million endowment fund.

This fund was set up by Ismail Gafoor and Alan Lim, with the goal of growing it to S$25 million over the next decade. Returns from the fund’s investments will go towards supporting underprivileged students and education-focused programmes.

The foundation was officially launched on July 15 at a company-wide event at Marina Bay Sands, graced by President Tharman Shanmugaratnam. At the event, the foundation disbursed its first round of support – S$254,000 to 160 students.

PropNex’s record-setting donation to community chest

As part of its ongoing social impact efforts, PropNex also announced a record donation of S$6 million to Community Chest – the largest single contribution in the charity’s history.

This was made possible through voluntary pledges from PropNex agents, along with contributions from its staff and management.

In addition, PropNex signed a memorandum of understanding with Community Chest, committing to donate S$1.5 million annually from 2025 to 2027, reinforcing its long-term commitment to giving back to the community.