Secretlab co-founder Ian Ang spends S$51m on two properties in Singapore
The 28-year-old recently purchased a Good Class Bungalow (GCB) at 27 Olive Road for S$36 million, as well as a triplex penthouse at Leedon Residence for S$15 million.
Ian Ang, CEO and co-founder of Secretlab, is the chairman (quite literally) of the gaming world. His company, launched in 2014, designs ergonomic chairs meant for a gamer’s comfort. Last year, the 28-year-old became the youngest ever winner of the EY Entrepreneur of the Year title.
In the past week, Ang has been spending his gaming riches on real estate. He purchased not one but two luxury properties in Singapore. The first is a Good Class Bungalow (GCB) at 27 Olive Road in the Caldecott Hill Estate, purchased at S$36 million, EdgeProp reported, citing a caveat lodged on Jun 24.
The second is a 7,007 sq ft, five-bedroom triplex penthouse at Leedon Residence for S$15 million, based on a caveat lodged on Jun 28. The total spent by Ang on the two properties amount to S$51 million.
Ang’s new GCB property – a double-storey detached house built in 1940 – sits on a freehold plot of 23,424 sq ft with a sloping terrain. It boasts views of the Caldecott Hill Estate, Mount Pleasant area, the Singapore Polo Club as well as Marina Bay Sands and the city in the distance.
“The main draw of the property is the land size and the unblocked view of the greenery and the skyline. He also likes the tranquility and the privacy, given the location of the site,” Stephen Ho, vice president of residential services at CBRE Singapore told EdgeProp. Ho brokered both transactions on Ang’s behalf.
Ang’s intention is to tear down and rebuild the existing property. While works are being done, he will stay at his new penthouse at Leedon Residence. The unit is situated at a corner block with views of the neighbouring GCB estates.
Leedon Residence is a luxury condo developed by GuocoLand, completed in 2015. The freehold property, designed by SCDA Architects, has 381 units. Only 12 are penthouses.
Ang started Secretlab with co-founder Alaric Choo with just S$50,000 in savings, he told CNA Luxury in an interview. The company broke even within a month of launching its first product, and since then, it has evolved into a global empire that has charted multifold growth. Secretlab sold its millionth chair last year.