In just two years, homegrown property developer Jason Ng has established his property investment and training firm, Aurico Global, as a major player in the industry with $52 million in assets under management.
Aurico is not Ng’s first venture into real estate development. It all began in 1993 when he felt the responsibility to provide for his family. Growing up in a rental flat with six family members, Ng worked hard to secure a well-paying job that would allow him to make his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. Reflecting on the past, Ng notes that it is nearly impossible to find a similar property for that price in today’s market.
Learning the ins and outs of property investment and management, Ng expanded his portfolio and also ventured into student enrichment and parenting training. He is now accredited as a family life educator and has been working with the Ministry of Education and Ministry of Social and Family Development for over 15 years.
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In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, to consolidate his diverse portfolio of businesses. These include Aurico’s co-living investment and management arm JC Global Developments, property and investment training arm Anchor of Life Training Consultants, and My Preschool Hub – a provider of preschool enrichment resources and programmes.
Aurico’s property portfolio covers a wide range of property types, from residential (co-living) to commercial and industrial assets. The company has a substantial co-living venture named Communa, which falls under JC Global Developments. With over $30 million in assets, the company manages 380 co-living units in shophouses, condos, and landed properties. In addition, Aurico is in the process of acquiring more properties and aims to nearly double their current portfolio to 600 units by the end of the year.
Strategic and quality portfolio acquisition is key for Aurico. In September, the company purchased a two-storey shophouse on 321 Joo Chiat Road at $5.1 million – 12% below the valuation price of $5.8 million. This highlights the firm’s strong property investment team and Ng’s sharp property investment acumen. He notes that every property must be bought below market valuation, ensuring profit even before the purchase.
Aurico also targets commercial properties in rapidly transforming areas, such as Woodlands. The company acquired a 560 sq ft commercial strata office unit at Woods Square in July 2023, emphasizing the upcoming Johor Bahru-Singapore Rapid Transit System that will boost operational efficiency with the ease of hiring workers from across the border.
The company has also ventured into food factory assets to capitalize on the rise in demand for food production due to the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030. They have acquired food factory properties, including Food Xchange @ Admiralty, strategically located on Admiralty Road West with a long lease balance of 36 years. Ng notes that this prime location provides a competitive advantage for food manufacturing businesses and a strong source of manpower.
In May, Aurico acquired a controlling stake of 29.8% in Autagco Ltd, a company listed on the Singapore Exchange. With this stake, Ng appointed Patrick Loke as the executive director of Autagco and plans to inject their assets into the company. In July, Autagco announced a strategic review to diversify and expand its core business into assisted living with Communa Gold – a wholly owned subsidiary of Autagco Ltd.
With an ageing population in Singapore, Aurico sees assisted living as a viable sector to be in. The company is in the process of acquiring a suitable property to develop into an assisted living facility, to be managed by Communa Gold.
Apart from property investment, Aurico is also dedicated to providing comprehensive and high-quality property investment education to aspiring investors. Ng believes that investment education is essential but inaccessible to many, which is why he offers courses to make residential and commercial property investment accessible for anyone. The company also provides participants with the opportunity to leverage the firm’s network and strategies to enhance their investment portfolio.
Ng wants to help millennial and Gen Z investors, who often feel that they have no chance of investing in property due to their background. He aims to change this mindset, noting that anyone can start their investment journey with the proper guidance and training. With its comprehensive curriculum and hands-on support, Aurico is poised to empower individuals to make informed decisions and achieve their financial goals through real estate.