Local real estate firm PropNex Realty has introduced its very own Monopoly PropNex Version in a first for the industry that has been curated to incorporate familiar elements and features of the property sector in Singapore.
The million-dollar collaboration contract with Hasbro, the Monopoly boardgame’s publisher and license holder, was first pitched by PropNex during July 2019. Owing to numerous stay-at-home directives and nationwide lockdowns, this was before the Covid-19 pandemic left several persons trapped in their houses.
The goal of Monopoly PropNex Version is to provide more Singaporean home buyers and investors with a deeper understanding and appreciation of the local property sector.
Monopoly PropNex Version is built to introduce the local residential property market in a friendly and entertaining way. The game teaches some of the main fundamentals behind real estate investment in Singapore, according to PropNex. This involve the handling of cash flow and the uncertainties behind investments in land.
The boardgame is eligible for purchase for $49.99 digitally and retails. Individuals in the loyalty scheme of PropNex Buddies will get a $42.99 package.
Ismail Gafoor, CEO of PropNex Realty, says he and his team took more than a year to plan and playtest Monopoly PropNex Version. They were able to get Hasbro’s approval to tweak some of the traditional laws of Monopoly and ubiquitous title deed cards. For example, in their respective core central zone, the remainder of the central region and the outer central region, all title deeds now represent areas and communities. At the beginning of the session, several of the title deeds are often doled out to reduce playtime to less than 11⁄2 hours.
PropNex claims that several agents ordered many versions of the boardgame for their buyers and companies since the boardgame was first unveiled to its agents during the weekend of Jan 23 and 24. With over 8,900 agents working under its umbrella this year, the firm boasts the highest number of salesmen in Singapore.
The organization states it is now introducing the game to be played by families during the coming Chinese New Year holidays.
Gafoor says it took him and his colleagues more than a year to develop and evaluate Monopoly’s PropNex version. (Picture: Albert Chua/Edge) Singapore’s
It has always been my hope to introduce the game of Monopoly to every Singapore household. At the early age of 10, my dad introduced me to the game, as this game was played as part of our family relationship, teaching us the simple knowledge of real estate, says Gafoor.
The Monopoly boardgame acts as a big PropNex promotional program. Gafoor says the organization plans to roll out booths at showflats and at its property seminars for the public to try the game for themselves as safe-distancing constraints are eventually relaxed at the right moment.
PropNex confirms it would use the boardgame for teaching property asset control in any of its agent training workshops. Such game-based teaching exercises cover techniques for land wealth progression and the fundamentals of financial prudence in investing in property.
In a recent interactive reality game by Hasbro named Monopoly Discover!, PropNex is also a main collaborator! SG. This entirely immersive game showcases snapshots of Singapore’s diverse spaces, locations, food and artifacts. Land owners, leisure firms and F&B labels are also other local stakeholders.
Gafoor hopes that the Monopoly game would offer more Singaporean home buyers and developers a greater knowledge and awareness of the local property industry.
Singapore has the world’s largest possession of land, and whether our property is an advantage or a liability over time matters. Many individuals have grown their wealth by investing in land, while some have made the wrong move and wasted all their money by investing in the wrong property because of lack of information or bad cash flow management, Gafoor says.
He also claims that Singaporeans might stand to be better armed in terms of their understanding of the nuances of the local property industry, through his experience conducting public property seminars. For instance, for factors outside their influence, such as running down a 99-year mortgage, a home that was an advantage 20 years earlier might turn into a liability, says Gafoor. Property cooling initiatives can also tilt their portfolio of investments.