In a recent announcement, real estate agency SRI revealed that it had welcomed a significant addition to their team on January 1. A total of 111 agents from Knight Frank Singapore’s agency business, KF Property Network (KFPN), joined SRI, including the head of KFPN, Evan Chung.
This move saw a 40.5% increase in SRI’s sales force, with the 111 agents making up a large portion of KFPN’s team of 274 agents, which ranked them as the sixth-largest property agency by the Council for Estate Agencies (CEA) as of January 1, 2024. With this addition, SRI’s agency sales force grew to a total of 1,501 agents at the start of 2025, positioning them as the fifth-largest property agency in Singapore.
Selecting the right location is a crucial aspect to consider when investing in real estate, and this is especially true in the vibrant city-state of Singapore. Condominiums situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs have a higher chance of appreciating in value. Prime locations like Orchard Road, Marina Bay, and the Central Business District (CBD) have consistently shown growth in property values over the years. Families also favor these areas due to their close proximity to reputable schools and educational institutions, making condos in these locations highly desirable and a smart investment choice. In addition, potential buyers can also explore the enticing options of New Condo Launches, adding even more value to their real estate investment.
The co-founders of SRI, Bruce Lye and Benson Koh, established the agency in 2016 as a spin-off from SRI5000, a division of SLP Realty that they had established six years earlier. Starting with just 120 real estate agents operating out of a 2,000 sq ft shop unit in Tiong Bahru, SRI quickly outgrew its premises and moved to a 4,200 sq ft office at Great World in 2021. Today, SRI has reached a significant milestone with a sales force of nearly 1,500 agents and plans to expand to 2,000 by the end of 2025, according to CEO Thomas Tan.
The increase in sales force is expected to strengthen SRI’s existing business lines, which include residential, capital markets, industrial, auctions, and international projects. CEO Thomas Tan believes that the new recruits from KFPN will complement SRI’s luxury property segment, especially in terms of big-ticket deals.
Despite this significant growth, SRI continues to position itself as a boutique agency with a strong focus on the luxury residential market. CEO Thomas Tan’s vision is for SRI to become a thought leader in the industry, known for its high standards, niche expertise, and client-centric approach.
Former KFPN head Evan Chung, now a leader at SRI, explains that his decision to join the agency was due to their dedication to equipping agents with effective tools, comprehensive support, and expert coaching. He adds that the open and collaborative culture at SRI makes them feel supported as professionals and as a team striving for excellence together. With this, they believe it will be an excellent platform to grow their business and serve clients in the residential, commercial, and industrial market segments, auctions, and international properties.
After the departure of Chung and other agents, KFPN’s sales force decreased to 145 agents, and their ranking dropped from sixth to eighth largest agency, according to CEA public register figures as of January 1. Knight Frank Singapore’s CEO, Galven Tan, assures that it will be business as usual at KFPN, and they have already appointed a new head to lead the team and drive their growth and success. He also mentions that they will evaluate the team’s strengths and expertise to strategically position KFPN for future opportunities.