Press Release

February 09, 2022

PropNex Empowers Financial Literacy Amidst Latest Cooling Measures

PropNex empowers Financial Literacyamidst latest cooling measures

Announces the PROPNEX MONOPOLY CHAMPIONSHIP 2022 for fans and consumers

PropNex aims to introduce insights of the Singapore residential market and financial literacy in a fun way, aside from organizing webinars, zoom meetings and virtual viewings, for a better understanding of the real estate journey for consumers. We are excited to launch the PROPNEX MONOPOLY CHAMPIONSHIP 2022 for fans and consumers - a competition where participants could use their real estate skills to outbid others to emerge as the overall champion with the highest asset value. This aims to introduce insights of the Singapore residential market and financial literacy in a fun and gamified manner. The dynamics of the latest property cooling measures are being incorporated into the game rules such as one has to pay ABSD (Additional Buyers’ Stamp Duty) for purchase of second and subsequent properties.

The PropNex Monopoly Championship will take place from May till August 2022 at Furama Riverfront Hotel, with each qualifying round having a table champion. Registration opens from 9 February 2022 and limited slots only at https://monopoly.propnex.com/.

The total prize value of the Championship is $308,000. To increase participation, PropNex will be rolling out a marketing campaign across various platforms including TV, radio, digital ads, taxis, buses and MRT Stations, social media platforms and more. More details of the competition can also be found on the webpage.

Mr. Ismail Gafoor, CEO PropNex Realty shared, “As an extension of our Consumer Empowerment journey, PropNex launched the board game and now the PropNex Monopoly Championship is the epitome of this consumer engagement real estate journey. We aim to empower consumers with financial literacy knowledge as property investment requires adequate financial planning and right strategies to succeed. We are excited that many Singaporeans will have the opportunity to pit their skills and the overall winner of this 4-month championship game walks away with attractive prizes worth $108,000.”

Through participation in the Championship, PropNex is confident that players will have a better grasp of the property market in Singapore and a deeper understanding of financial prudence necessary to own their first property or multiple properties. In the game of four to five players per round, as soon as two players go bankrupt, the player with the highest worth of assets will emerge the winner. The key objectives of this championship are:

1) To learn the KEY fundamentals of real estate investments in Singapore.

2) To experience CASH flow management and effective techniques of real estate investments as a LIFE LONG skill.

3) To avoid potential pitfalls in property investment in order to minimize the RISK in real life commitments.

4) Bringing people together and cultivating the wisdom of financial prudence and investment skills from a young age in a FUN way.

It has been approximately a year since the Monopoly PropNex Edition Game was introduced. Over 12,000 PropNex Monopoly Edition board games were sold through the company’s network of distribution. Another 4,000 PropNex salespersons underwent training to learn the intricacies of this game as well as the practical application to their client’s asset progression journey.

The MONOPOLY PROPNEX EDITION is meticulously curated to bring out the essence of the “Singapore flavour” giving players a deeper understanding of the property market, namely what constitutes the Core Central Region (CCR), Rest of Central Region (RCR) and Outside Central Region (OCR) segments and as well highlighting the various challenges that investors have to overcome in owning multiple properties complying to various cooling measures currently in place. Additionally, the competition rules were tweaked so that participants can complete the game within 1.5 hours maximum.

Monopoly is enjoyed by more than one billion players in 114 countries across the globe. While the brand has evolved over the past 85 years, the gameplay and iconography of the classic Monopoly game has remained unchanged, making it a timeless classic sure to be enjoyed by future generations. Follow along and stay up to date on news from Hasbro Gaming - Instagram and Facebook.
Together with PropNex’s Monopoly Ambassadors, participants could look forward to practice at the Masterclass sessions to ace the game (open from April 2022 onwards) Alternatively, one can purchase the PropNex monopoly game sets at https://monopoly.propnex.com/ at $49.99 (Excluding GST and Delivery Fee) to practice.

PropNex Friends (our members) enjoy $7.00 off the game set and earn additional chances to be balloted to participate in the Championship. To enjoy these benefits, sign up as a member of PropNex Friend at https://www.propnex.com/signup

For Media Enquiries

Carolyn Goh

Senior Director, Corporate Communications and Business Development

carolyn@propnex.com

DID : (65) 6829 6748 / 9828 7834

Quek Yingzhen

Manager, Corporate Communications and Marketing

yingzhen@propnex.com

DID : (65) 6829 6749

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