Aurico Global Local Asset Manager Formidable Portfolio Valued 52 Million
In just two years, property investment and training firm Aurico Global, led by CEO and executive chairman Jason Ng, has grown to manage $52 million in assets.The company, which focuses on property investments and training, has a diverse portfolio that spans residential (co-living), commercial, and industrial properties. Ng’s sharp property investment acumen and the firm’s strong team have allowed Aurico to acquire valuable properties at strategic locations below market valuations.One of the company’s most recent acquisitions is a two-storey shophouse on Joo Chiat Road, purchased at 12% below its valuation. Aurico also has plans to diversify into assisted living facilities for seniors, tapping into the growing demand for such services due to Singapore’s ageing population.In addition to its property investments, Aurico is dedicated to providing comprehensive and accessible property investment training to aspiring investors. Ng’s aim is to empower those from all backgrounds to make informed decisions and achieve financial success through real estate. With its strong portfolio and commitment to training the next generation of property developers, Aurico is poised for continued growth and success in the years to come. Over the span of two years, Jason Ng, CEO and executive chairman of Aurico Global, has achieved a remarkable feat – growing the property investment and training firm from the ground up to manage $52 million in assets. However, Aurico is not Ng’s first venture into the real estate development industry, as he has been involved since 1993 when he was driven by his sense of responsibility to support his family. Growing up, Ng lived with his family of six in a rental flat along Dakota Crescent.
Determined to provide for his family, Ng worked hard to secure a well-paying job that would give him enough capital to make his first property investment – a 1,400 sq ft three-bedroom apartment that cost $435,000. Ng reflects on how this price is unattainable for a similar-sized property in today’s market.
Since then, Ng has gained extensive knowledge and experience in property investment and management, leading him to expand his real estate portfolio. He has also ventured into student enrichment and parenting training, and is now accredited as a family life educator, working with the Ministry of Education and Ministry of Social and Family Development for over 15 years.
In January 2023, Ng teamed up with his wife Emelyn Ho to establish Aurico, which consolidates his diverse portfolio of businesses. These include JC Global Developments, which focuses on co-living investment and management, Anchor of Life Training Consultants, which offers property and investment training, and My Preschool Hub, a provider of preschool enrichment resources and programs.
Aurico’s property portfolio includes a wide range of properties, 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, with a total value of over $30 million. According to shareholder Patrick Loke, Aurico has plans to acquire more properties and aims to increase its current portfolio to 600 units by the end of the year.
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Aurico’s strategy is to acquire high-quality properties in strategic locations below market valuation. In September, the company purchased a two-storey shophouse on Joo Chiat Road for $5.1 million, 12% less than its valuation price of $5.8 million. This is a testament to Ng’s astute property investment acumen and the firm’s strong team. As Ng says, “Every property that we buy must be bought at below market valuation. That means that before we buy an asset, we’ve already made money on it.”
In addition to residential and commercial properties, Aurico has also set its sights on the food production industry. The company acquired food factory assets, anticipating the rising demand for food production due to the government’s “30 by 30” goal to produce 30% of the country’s nutritional needs by 2030. Ng explains that while Aurico is not venturing directly into the F&B business, they see the food factory and central kitchen acquisitions as strategic investments that will enhance their portfolio.
One of the food factory properties Aurico acquired is a 36-year leasehold commercial strata office unit at Woods Square in Woodlands. Ng believes that this investment puts them at the forefront of changes in Woodlands, including the upcoming Johor Bahru-Singapore Rapid Transit System. Additionally, having an office in Woodlands increases operational efficiency, as the company can easily recruit workers from across the border.
In May, Aurico successfully 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. As part of Aurico’s plans to expand into other businesses, the company has injected its assets into Autagco.
On October 15, Autagco announced its intent to diversify into residential assisted living. This project, to be run and managed by Communa Gold, a wholly owned subsidiary of Autagco, will provide assisted living for seniors. According to Ng, this is a lucrative sector due to Singapore’s ageing population, and Aurico is currently in the process of securing a suitable property for development.
Aside from property investment, Aurico is also committed to providing comprehensive and accessible property investment training to individuals of all backgrounds. Ng is passionate about empowering youths, particularly millennials and Gen Z, who often believe that property investment is only for the affluent. With its comprehensive curriculum and hands-on support, Aurico aims to help individuals make informed decisions and achieve financial success through real estate.
In just two years, Aurico has earned a reputation for its comprehensive and high-quality property investment education. With its diverse portfolio and focus on training the next generation of property developers, the company is poised for continued growth and success in the years to come.