Secretlab CEO Ian Ang buys 2 properties for $51m, including Good Class Bungalow

Mr Ian Ang plans to live at the Leedon Residence penthouse while the bungalow is being torn down and rebuilt.
PHOTO: Secretlab, Screengrab/Google Maps

With Secretlab rising to become a titan in the gaming world, CEO Ian Ang is certainly sitting on the throne of success. The company, after all, has come a long way since its foray into the ergonomic gaming chair market in 2014, with its latest move into a massive 44,00 square feet global office speaking volumes of its growth over the years.

Part of these gaming riches, as it turns out, have gone into real estate. According to Edge Property, the 28-year-old had recently spent $51 million on two luxury properties in Singapore: Good Class Bungalow (GCB) at 27 Olive Road in the Caldecott Hill Estate for $36 million, and a 7,007 square feet five-bedroom penthouse at Leedon Residence for $15 million.

The $36 million price tag for the good class bungalow in Caldecott Hill translates to $1,537 psf based on the 23,424 sq ft site. 
PHOTO: The Straits Times

Both properties are freehold and located in the prime districts, with caveats lodged on 24 and 28 June 2021 respectively. The GCB property, in particular, is understandably alluring:

First built in 1940, the double-storey detached house sits on 23, 424 sq ft of land with a sloping terrain, and offers a 270-degree view of the Caldecott Hill Estate, the Mount Pleasant area, and the Singapore Polo Club. Squint a little, and Marina Bay Sands and the city can be in the distance.

“The main draw of the property is the land size and the unblocked view of the greenery and the skyline. (Ang) also likes the tranquility and the privacy, given the location of the site,” shared Stephen Ho, vice president of residential services at CBRE Singapore, to Edge Property.

PHOTO: Leedon Residence

Ang’s next course of action is to demolish and rebuild the existing property, with the construction process expected to take at least three years. The man is currently selecting an architect and will be living in Leedon Residence while works are being done.

Moving forward, the penthouse is likely used for investment activities in the future, such as leasing it out as a rental space. It’s all pretty impressive, considering how Ang and co-founder Alaric Choo started Secretlab with just $50,000 in savings.

Now, this figure is but a fragment of its past. Apart from releasing a full slate of gaming chairs themed after everyone’s favourite titles in the entertainment scene, the company also reached a new milestone with a cameo at GameStop’s stock testimony earlier this year.

This article was first published in Geek Culture.