In just two years, Jason Ng has built his property investment and training firm Aurico Global from the ground up, reaching $52 million in assets under management. Ng serves as the CEO and executive chairman of Aurico, which is not his first venture into real estate development. His journey began in 1993 when he felt a sense of responsibility to provide for his family. Growing up in a rental flat with six family members, Ng worked hard to land a well-paying job that would give him enough capital for his first property investment – a 1,400 sq ft three-bedroom apartment for $435,000. Reflecting on the fact that you can’t get a similar-sized house for that price nowadays, Ng quickly learned the ropes of property investment and expanded his real estate portfolio. He also ventured into student enrichment and parenting training and is now accredited as a family life educator. In January 2023, Ng co-founded Aurico with his wife, Emelyn Ho, to consolidate his diverse portfolio of businesses, including 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 programs.
Aurico’s property portfolio covers a range of property types, from residential (co-living) to commercial and industrial assets. Their co-living venture, Communa, manages 380 units in shophouses, condos, and landed properties, valued at over $30 million. The company is in the process of acquiring more properties and aims to almost double their current slate to reach 600 units by the end of the year. Aurico’s strategy is to acquire valuable properties in high traffic areas below valuation. In September, they bought a two-storey shophouse on Joo Chiat Road for $5.1 million, which was 12% below the valuation price. This shows the firm’s strong property investment team and Ng’s sharp acumen. They also target commercial properties in areas undergoing rapid transformation, such as the mixed-use development Woods Square in Woodlands. In July, they bought a 560 sq ft commercial strata office unit for their own use. They have also acquired food factory assets to tap on the rising demand for food production due to the government’s “30 by 30” goal.
In May, Aurico acquired a 29.8% controlling stake in Autagco Ltd, a company listed on the Singapore Exchange and appointed Patrick Loke as the executive director. In July, Autagco’s board announced a strategic review to potentially diversify into property investment, co-living property management, education, and other businesses. With the controlling stake in Autagco, Aurico plans to inject their assets into the company. On Oct 15, Autagco announced that its board has conducted a strategic review to diversify into residential assisted living, which will be run by their subsidiary, Communa Gold. The company is in the process of securing a suitable property for an assisted living facility for seniors.
Within two years, Aurico has earned a reputation for providing high-quality property investment education to aspiring investors. Ng believes that investment education is essential but inaccessible to many. He has developed courses to make residential and commercial property investment accessible to anyone, regardless of their background and experience. On top of its intensive courses, Aurico offers participants an opportunity to leverage the firm’s network and strategies to enhance their investment portfolio. Ng regularly conducts wealth management training at CT Hub 2, one of their office units. His goal is to help more millennial and Gen Z investors, who often feel they don’t have the means to invest in property. 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.
When purchasing a condo, it is crucial to also consider the maintenance and management aspects of the property. Along with the initial cost, condos often come with maintenance fees that cover the upkeep of common areas and amenities. These fees may seem like an extra expense, but they play a vital role in keeping the property well-maintained and its value intact. To make condo ownership more passive, investors can hire a property management company to handle the day-to-day management of their unit.