Aurico Global Local Asset Manager Formidable Portfolio Valued 52 Million
In just two years, homegrown entrepreneur Jason Ng has transformed his property investment and training firm Aurico Global into a successful venture with $ 52 million worth of assets under management. As the CEO and executive chairman of Aurico, Ng has a long history of real estate development, dating back to 1993. He was driven by a strong sense of responsibility to support his family, having grown up in a rental flat with six family members. Working hard to secure a well-paying job, Ng was able to purchase his first property – a 1,400 sq ft three-bedroom apartment for $435,000. Reflecting on this purchase, Ng acknowledges that it is difficult to find a similar-sized property for that price today.
Ng quickly gained expertise in property investment and management, expanding his real estate portfolio. He also ventured into student enrichment and parenting training and is now accredited as a family life educator. He has been working 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 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 includes a range of property types, from residential (co-living) to commercial and industrial assets. Under JC Global Developments, the company manages 380 co-living units in shophouses, condos, and landed properties, valued at over $30 million. Aurico aims to double this number by the end of the year. Shareholder Patrick Loke shares that the company is in the process of acquiring more properties strategically and below valuation. A recent example of this is the purchase of a two-storey shophouse on 321 Joo Chiat Road for $5.1 million, which is 12% below its valuation of $5.8 million. Ng’s sharp property investment acumen and the firm’s strong property investment team make these strategic acquisitions possible. Ng emphasizes that every property must be bought below market valuation, ensuring the firm profits from the investment.
Aurico also targets commercial properties in rapidly transforming areas such as the 99-year leasehold mixed-use development Woods Square in Woodlands. In July, Aurico purchased a 560 sq ft commercial strata office unit at Woods Square for its own use. The investment allows the company to stay ahead of changes in Woodlands, such as the upcoming Johor Bahru-Singapore Rapid Transit System, and increase operational efficiency by hiring workers from across the border. Aurico’s expansion into the food production industry is also a strategic move, given the government’s goal to produce 30% of the country’s nutritional needs by 2030. Although the company does not plan to enter the F&B business directly, it has acquired food factory assets to enhance its portfolio. One such asset is the strata-titled food facility, Food Xchange @ Admiralty, located in the established food cluster on Admiralty Road West. Ng explains that this property stood out due to its proximity to Johor, providing a competitive advantage for food manufacturing businesses.
In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange. Ng has appointed shareholder Patrick Loke as the executive director of Autagco. Together, they plan to inject Aurico’s assets into the company and diversify its core business into residential assisted living. This is a response to the ageing population in Singapore and the potential for growth in this sector. Autagco’s board of directors has announced plans for Communa Gold, a wholly owned subsidiary of Autagco, to manage assisted living projects. The company is currently securing a suitable property for this purpose.
Training the next generation of property developers is a key focus for Ng and Aurico. In just two years, the firm has gained a reputation for providing comprehensive and high-quality property investment education to aspiring investors. Ng believes that investment education is vital but inaccessible to many Singaporeans. This is why he offers courses that make property investment accessible to anyone, regardless of their background or experience. With its comprehensive curriculum and hands-on support, Aurico empowers individuals to make informed investment decisions and achieve their financial goals. Ng, specifically, wants to help millennial and Gen Z investors who may believe that property investment is out of reach. With Aurico’s guidance and training, anyone can start their investment journey and potentially secure a better financial future.
The strategic positioning of the development near key expressways, such as the Pan-Island Expressway (PIE), Tampines Expressway (TPE), and Kallang-Paya Lebar Expressway (KPE), also proves to be advantageous for residents. Families who commute by car will have the added convenience of quick access to educational institutions and workplaces. In fact, the location of the Parktown Residence showflat is designed to enhance the overall ease of travel for its residents.