PropNex commits more than S$30 million to philanthropic initiatives, funding education
It will make a landmark contribution of S$6 million to Community Chest (ComChest) over a 12-month period – its largest donation to the charity in the real estate agency's history. This amount comprises voluntary pledges of a portion of sales commissions by PropNex salespersons.
PropNex also signed a memorandum of understanding with ComChest to donate S$1.5 million annually from 2025 to 2027. This supports the SG Gives Enhanced Matching Grant, where the government matches up to S$1.50 for every S$1 donated – amounting to at least S$250,000 in matching funds annually. There is a minimum commitment period of three years.
The funds will go towards helping beneficiaries under ComChest's programmes – in particular children with special needs, children with physical and sensory challenges, as well as underprivileged youth and families in need.
Chew Sutat, chairman of ComChest, said: 'Programmes such as special needs education, student care centres, counselling, financial and social support can provide much-needed assistance to help families achieve stability and resilience.'
PropNex has been collaborating with ComChest since 2013, donating more than S$10 million to its programmes.
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Ismail Gafoor, executive chairman of PropNex, said: 'Over the years, we have supported vulnerable groups aligned with our values, such as children, families and individuals with special needs, through both financial contributions and volunteer efforts.'
The announcements were made as part of PropNex's 25th anniversary celebrations on Thursday.
In April this year, PropNex worked with ComChest, Families for Life Council, and the Ministry of Social and Family Development to launch the PropNex Family Zone at Gardens by the Bay.
The agency said this is Singapore's first inclusive, family-themed playground that spans more than 64,000 square feet and comprises a community garden, event lawn and upcoming community stage in 2026. The playground incorporates educational and inclusive play elements.
PropNex Foundation
On Thursday, the real estate agency launched PropNex Foundation to fund student education. The foundation has an initial endowment of S$10 million, and co-founders Gafoor and Alan Lim have pledged to grow the fund to S$25 million over the next 10 years.
PropNex Foundation will support underprivileged students and advance educational initiatives. Its beneficiaries are from primary school to university.
As a start, the foundation has awarded S$254,000 in the form of PropNex Education Awards to 160 students to help them pursue their educational goals.
Primary and secondary students received S$1,000; junior college, Millennia Institute and Institute of Technical Education students received S$2,000; polytechnic students received S$3,000; and students from autonomous universities received S$4,000.
To be eligible, applicants' gross monthly household per capita income cannot exceed S$2,000, and gross monthly household income could not exceed S$7,500.
20-year-old Branwenn Tang, a beneficiary from Singapore Polytechnic pursuing a diploma in food science and technology, said she aims to use the funds to kickstart her entrepreneurial journey. Outside of her studies, she is interested in starting a business selling crocheted flowers.
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Business Times
2 days ago
- Business Times
PropNex commits more than S$30 million to philanthropic initiatives, funding education
[SINGAPORE] Real estate agency PropNex announced on Tuesday (Jul 15) its commitment of more than S$30 million towards philanthropic initiatives, as well as the launch of PropNex Foundation to fund student education. It will make a landmark contribution of S$6 million to Community Chest (ComChest) over a 12-month period – its largest donation to the charity in the real estate agency's history. This amount comprises voluntary pledges of a portion of sales commissions by PropNex salespersons. PropNex also signed a memorandum of understanding with ComChest to donate S$1.5 million annually from 2025 to 2027. This supports the SG Gives Enhanced Matching Grant, where the government matches up to S$1.50 for every S$1 donated – amounting to at least S$250,000 in matching funds annually. There is a minimum commitment period of three years. The funds will go towards helping beneficiaries under ComChest's programmes – in particular children with special needs, children with physical and sensory challenges, as well as underprivileged youth and families in need. Chew Sutat, chairman of ComChest, said: 'Programmes such as special needs education, student care centres, counselling, financial and social support can provide much-needed assistance to help families achieve stability and resilience.' PropNex has been collaborating with ComChest since 2013, donating more than S$10 million to its programmes. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Ismail Gafoor, executive chairman of PropNex, said: 'Over the years, we have supported vulnerable groups aligned with our values, such as children, families and individuals with special needs, through both financial contributions and volunteer efforts.' The announcements were made as part of PropNex's 25th anniversary celebrations on Thursday. In April this year, PropNex worked with ComChest, Families for Life Council, and the Ministry of Social and Family Development to launch the PropNex Family Zone at Gardens by the Bay. The agency said this is Singapore's first inclusive, family-themed playground that spans more than 64,000 square feet and comprises a community garden, event lawn and upcoming community stage in 2026. The playground incorporates educational and inclusive play elements. PropNex Foundation On Thursday, the real estate agency launched PropNex Foundation to fund student education. The foundation has an initial endowment of S$10 million, and co-founders Gafoor and Alan Lim have pledged to grow the fund to S$25 million over the next 10 years. PropNex Foundation will support underprivileged students and advance educational initiatives. Its beneficiaries are from primary school to university. As a start, the foundation has awarded S$254,000 in the form of PropNex Education Awards to 160 students to help them pursue their educational goals. Primary and secondary students received S$1,000; junior college, Millennia Institute and Institute of Technical Education students received S$2,000; polytechnic students received S$3,000; and students from autonomous universities received S$4,000. To be eligible, applicants' gross monthly household per capita income cannot exceed S$2,000, and gross monthly household income could not exceed S$7,500. 20-year-old Branwenn Tang, a beneficiary from Singapore Polytechnic pursuing a diploma in food science and technology, said she aims to use the funds to kickstart her entrepreneurial journey. Outside of her studies, she is interested in starting a business selling crocheted flowers.
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2 days ago
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