SRI is pleased to announce that 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), led by Evan Chung, have joined the firm on Jan 1.
This significant move has boosted SRI’s sales force by 40.5%, accounting for 274 sales force at KFPN as of Jan 1, 2024, when it was ranked the sixth-largest property agency by the Council for Estate Agencies (CEA). This has increased SRI’s agency sales force to 1,501 at the beginning of 2025, making it the fifth-largest property agency.
Founded by Bruce Lye and Benson Koh in 2016, SRI was a spin-off from SRI5000, established by the duo as a division of SLP Realty six years earlier. Starting with 120 agents in a small 2,000 sq ft shop unit on Eng Watt Street in Tiong Bahru, SRI soon outgrew its premises and moved to a larger 4,200 sq ft office space at Great World in 2021.
Under the leadership of CEO Thomas Tan, SRI has achieved a significant milestone by reaching nearly 1,500 agents, and aims to expand the team to 2,000 by the end of 2025. This expanded sales force will strengthen SRI’s existing business lines in residential, capital markets, industrial, auctions, and international projects. Tan believes that the addition of agents from KFPN, who are involved in big-ticket deals, will complement SRI’s luxury property segments, such as Good Class Bungalow (GCB) properties.
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Despite its growth, SRI remains a boutique agency with a strong focus on the luxury residential market. Tan’s goal is to transform SRI into a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.
Former KFPN head, Evan Chung, who has moved to SRI as a leader, explains that his decision was motivated by the agency’s dedication to equipping agents with effective tools, comprehensive support, and expert coaching. He also highlights the open and collaborative culture at SRI, which makes him feel supported as a professional and as part of a team striving for excellence. He believes that SRI will be a great platform for business growth and serving clients through its offerings in residential, commercial, and industrial markets, auctions, and international properties.
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Following the departure of Chung and other agents, KFPN’s sales force has decreased to 145 agents, and its ranking has dropped from sixth to eighth largest agency, based on CEA public register figures as of Jan 1. However, Knight Frank Singapore’s CEO, Galven Tan, reassures that it’s business as usual at KFPN. The agency is appointing a new head to lead KFPN and will evaluate the team’s strengths and expertise to strategically position the agency for future opportunities.