In just two years, Jason Ng, CEO and executive chairman of Aurico Global, has successfully built his property investment and training firm from the ground up, achieving $52 million in assets under management. This is not Ng’s first venture into real estate development, as he has been interested in property since 1993 when he felt a sense of responsibility to provide for his family. Coming from a rented flat in Dakota Crescent with six family members, Ng worked hard to secure a well-paying job and invested in his first property, a 1,400 sq ft three-bedroom apartment for $435,000.
Through experience and hard work, Ng expanded his real estate portfolio and also ventured into student enrichment and parenting training. His accreditation as a family life educator led him to work with the Ministry of Education and Ministry of Social and Family Development for over 15 years.
In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, to consolidate his various businesses. These include JC Global Developments, which focuses on co-living investment and management, Anchor of Life Training Consultants, which provides property and investment training, and My Preschool Hub, a provider of preschool enrichment resources and programmes.
As you contemplate investing in a condo in Singapore, it is crucial to carefully consider the government’s property cooling measures. Throughout the years, the government has implemented various measures to regulate speculative buying and maintain a steady real estate market. One notable example is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreigners and individuals looking to purchase multiple properties. While these measures may initially impact the profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment climate. Therefore, it is imperative to factor in these measures when deciding whether to invest in a condo in Singapore.
Aurico’s property portfolio includes a diverse range of properties such as residential (co-living), commercial and industrial assets. Through JC Global Developments, the company manages 380 co-living units in shophouses, condos, and landed properties, valued at over $30 million. The firm aims to increase this to 600 units by the end of the year, with plans to acquire more properties. An example of their strategic acquisitions is a two-storey shophouse on 321 Joo Chiat Road, which they bought at $5.1 million, 12% below its valuation price of $5.8 million. Ng’s sharp property investment acumen and a strong property investment team have allowed him to acquire valuable properties in high traffic areas below market valuation.
The company’s diversified portfolio also includes commercial properties, such as a 560 sq ft commercial strata office unit at Woods Square in Woodlands, which they acquired for their own use. With the upcoming Johor Bahru-Singapore Rapid Transit System, having an office in Woodlands is advantageous, as it allows for operational efficiency with easy access to workers from across the border.
In line with the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030, Aurico has also acquired food factory assets to tap into the rising demand for food production. This strategic investment enhances their portfolio and includes a strata-titled food facility called Food Xchange @ Admiralty. With its close proximity to Johor, the property provides added benefits for food manufacturing businesses and a strong source of manpower.
In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange. With the controlling stake, Ng appointed a shareholder, Patrick Loke, as the executive director of Autagco. Through Autagco, Aurico has plans to inject its assets and develop assisted living facilities for the elderly. This is a viable sector, given Singapore’s ageing population.
As part of its mission to empower individuals, Aurico also provides comprehensive and high-quality property investment education through courses and leveraging their network and strategies to enhance investment portfolios. Ng believes that investment education is essential and wants to make it accessible to everyone, regardless of their background and experience. He is particularly keen on helping millennials and Gen Z investors, who often feel that they lack the means to invest in property. With its comprehensive curriculum and hands-on support, Aurico aims to change this mindset and empower individuals to make informed decisions towards achieving their financial goals through real estate.