Citi Commercial is one of a handful of home-grown real estate agencies in Singapore with the branding power and specialist track record that can easily go toe-to-toe with any professional real estate consultancies here.
“Since our establishment in 2009, Citi Commercial has grown into a leading commercial real estate agency. Supported by our team of consultants, who are leaders in the office, industrial, and retail segments, we specialise in helping businesses find the property for their needs,” says Kong Chong Phang, co-founder and managing director of Citi Commercial.
The company has built its reputation as one of the most well-connected specialist agencies in Singapore’s leasing market. It competes in the same tier as professional consultancies in terms of market presence and client profile.
“We expect leasing demand in the office, industrial, and retail property markets to grow significantly in the coming years, and we are focused on growing our team of real estate professionals to bolster the company’s growth,’ says Kong.
Citi Commercial: tried and tested
As an industry veteran of more than two decades, Kong entered the industry as a real estate broker with Triple One Properties and DTZ Denbenham Tie Leung in the retail leasing, before branching out his career at Colliers International, focusing on the office leasing market in Singapore.
In 2009, with the encouragement of his peers and support of his wife, he founded Citi Commercial. “Our initial years were extremely challenging as the financial markets were in turmoil due to the Global Financial Crisis,” recalls Kong.
Despite this, Citi Commercial was able to close several sizable deals, which enabled it to emerge from the financial crisis intact. Kong attributes the company’s success to its being an early adopter of technology to support its salespersons and leverage such technology to provide value-added services to their clients.
One of its strongest and most reliable property technology (proptech) tools is its in-house Listing Management System that enables its agents to accurately match a client’s space requirements to Citi’s extensive portfolio of available listings.
In-house developed proptech tools have been a key service and training component at Citi Commercial. (Picture: Kong Chong Phang)
Other proptech tools include virtual tours mapped and developed in-house. “Close to 70% of all available to lease office spaces in Singapore have been digitally mapped by us using this software. Being produced in-house allows us to scale up without adding exponential cost to the production of these tours,” says Kong.
These digital tours are used to showcase the space to prospective tenants, even when they are located overseas or physically unavailable to inspect the spaces. It is also a tool to teach new agents on the team how to market different types of spaces while arming them with market knowledge.
Kong and his team also rely on their strong and established relationships with landlords, asset owners, and developers. “We view ourselves as tenant representatives, leveraging our extensive network of local small- and medium-sized enterprises (SMEs) and smaller-sized multinational corporations (MNCs),” he says.
Supported by our team of consultants, who are leaders in the office, industrial, and retail segments, we specialise in helping businesses find the property for their needs, says Kong. (Picture: Kong Chong Phang)
He adds that their forte has always been their leading position in the leasing market, as well as a strong reputation in the sale of strata-titled commercial properties. “Although we are just a team of 16 dedicated professionals, I am proud that collectively we have been able to punch above our weight in the industry”.
Citi Commercial was the leasing agency that secured PropertyGuru Group’s 26,000 sq ft Singapore office at Paya Lebar. The agency typically works with about 150 tenant clients each year and works with a range of landlords looking to lease their spaces.
Teaching and learning to achieve success
Under Kong’s leadership, Citi Commercial places a strong emphasis on teaching and mentoring new hires to achieve their success. He has made himself available through direct understudy arrangements to guide agents who have just joined the team. “I believe in practicing what I teach, and these understudy opportunities provide valuable hands-on experience and hone soft-skills such as the art of negotiating with landlords and tenants,” adds Kong.
In addition, Citi Commercial provides new agents with leads as a way to assist them in closing their first few deals. Kong also believes that mature and experienced agent should diversify their portfolio to operate and serve clients across multiple real estate sectors. “An agent who serves commercial tenants and landlords should still be able to serve clients in the residential market as well,” he says.
Citi Commercial has built its reputation as one of the most well-connected specialist agencies in Singapore’s leasing market. (Picture: Kong Chong Phang)
He adds that for experienced agents one of the benefits of joining Citi Commercial is that the company offers a leg-up into high capital sectors like business parks, industrial properties, and office spaces.
“At the same time, we want to encourage new agents to diversify their portfolio. We offer support in their learning through the use of technology and leveraging the experience of veteran agents like me,” says Kong.
A common trait of our agents at Citi Commercial is being self-driven, says Kong. “We are the most active during office hours since this fits many of our clients’ schedules. Each of our agents is expected to take charge of their own advertising and client outreach.” A willingness to learn is essential, as building a deep understanding of the office, industrial and retail leas ing market requires time and dedication.
Kong is a values-driven leader who fosters a supportive, people-focused culture at Citi Commercial, balancing integrity with work-life harmony. (Picture: Kong Chong Phang)
A working culture built on values
At the same time, Kong’s personal beliefs guide his leadership and management style. As a father and husband, he understands that sometimes family comes first. “We are a family-oriented company, and I respect the personal lives of our team,” he says.
He recalls his experience 16 years ago when he first started the company, and finding the right work life balance as a new father and business owner. “I am also grounded by my Christian values, which act as my moral and ethical compass. These values guide the way I lead the company, and as a father to four children,” he says.
Most of the agents at Citi Commercial are in their mid-thirties and have been with the company for more than five years. ‘Within Citi Commercial, we strive to build a warm and personable company that is built by supporting and encouraging each other. Our professional ethics guide our way forward, and not just focus on chasing sales and transactions,” he says. “Deals will come naturally when we choose to build honest relationships with the people we work with”.
For more information,
Contact Kong Chong Phang | 84822888
Managing Director and KEO (R021898J)
CITI COMMERCIAL PTE. LTD
