In just two years, local real estate developer Jason Ng has built his property investment and training firm Aurico Global from the ground up to reach $52 million in assets under management. Ng, who serves as CEO and executive chairman of Aurico, has had a long journey in the property investment industry, with his first investment dating back to 1993 when he was motivated to provide for his family.
The decision to invest in a condominium in Singapore has gained popularity among both local and foreign investors, thanks to the country’s thriving economy, unwavering political climate, and exceptional quality of life. Singapore’s real estate industry presents a multitude of prospects, and condos reign supreme for their convenience, facilities, and potential for lucrative returns. In this article, we will delve into the advantages, factors to consider, and necessary measures for investing in a condo in Singapore, including Singapore projects.
Growing up in a rental flat in Dakota Crescent with six family members, Ng worked hard to secure a well-paying job that allowed him to make his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. With real estate experience under his belt, he continued to expand his portfolio while also venturing 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.
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 has a wide range of property investments, from residential co-living units to commercial and industrial assets. Its co-living venture, Communa, managed by JC Global Developments, currently has 380 units in shophouses, condos, and landed properties with a total value of over $30 million. Aurico plans to acquire more properties and aims to nearly double its current portfolio to reach 600 units by the end of the year.
The company’s strategy is to acquire valuable properties in high-traffic areas below their valuation price. In September, Aurico purchased a two-storey shophouse on 321 Joo Chiat Road for $5.1 million, which was 12% below its valuation of $5.8 million. According to shareholder Patrick Loke, this is a testament to the firm’s strong property investment team and Ng’s sharp acumen. He emphasizes the importance of buying properties at below market value, ensuring a profit before the purchase is even made.
Aurico also has its sights set on commercial properties in strategic locations that are experiencing rapid transformation, such as the 99-year leasehold mixed-use development Woods Square in Woodlands. The company purchased a 560 sq ft commercial strata office unit at Woods Square in July for its own use, believing it will provide benefits in the long term as the area develops. The company also recently acquired food factory assets to take advantage of the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030.
In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange. Ng has appointed Loke as the executive director of Autagco, and the board of directors has announced a strategic review to potentially diversify into property investment, co-living property management, education, and other businesses. With this, Aurico has plans to inject its assets into the company, and in October, Autagco announced its intention to expand into residential assisted living with the establishment of Communa Gold, a subsidiary focused on this sector.
In summary, making a real estate investment in Singapore through purchasing a condo presents numerous benefits, including a high demand, potential for value appreciation, and attractive rental yields. Nevertheless, it is crucial to carefully evaluate various factors such as the location, financing options, government policies, and market conditions before making a decision. By conducting thorough research and seeking expert advice, investors can make informed choices and leverage the dynamic real estate market in Singapore. This is where Singapore Projects can come into play, providing premium opportunities for both local and foreign investors to diversify and achieve profitable returns. Whether you are a local investor looking to expand your portfolio or a foreign buyer seeking a secure and lucrative investment, condos in Singapore offer a compelling chance for success.
Ng has also made it his mission to provide comprehensive and high-quality property investment education to aspiring investors. He believes that investment education is essential but often inaccessible to many. Through Aurico’s courses, participants have the opportunity to leverage the firm’s network and strategies to enhance their investment portfolio. Ng is passionate about helping millennial and Gen Z investors, debunking the belief that property investment is only for the affluent. With its comprehensive curriculum and hands-on support, Aurico aims to empower individuals to make informed decisions and achieve their financial goals through real estate.