Philanthropy Asia - Entrepreneur adds philanthropy to corporate mission after school hunt

SINGAPORE, Oct. 14 2024 / Philanthropy Asia /- Keith Ong (pictured) was scouring the internet for a boarding school for his teenage daughter when he chanced upon a Singapore venture that tugged at his paternal heartstrings and fuelled his desire to help disadvantaged children. 

High among the search results Ong found =DREAMS, a charity that had just begun a weekday residential campus for teenagers from low-income families. 

Ong, the CEO and co-founder of RealVantage, a fractional real estate investment platform, was intrigued. He recalled how moved he was by a 2022 Netflix documentary on Shanti Bhavan, a residential school in India run by a non-profit for children from the lowest socio-economic class. 

“The documentary spanned many years and tracked the development of some school girls from the time they were about five to six till they became young professionals, like lawyers or doctors,” said the lanky, bespectacled Ong seated in the conference room of his office at Aperia, a development on the fringe of the Central Business District. “These accomplishments would not have been possible without the support of the school. It was a very compelling story,” he said.  

=DREAMS, funded by donations and sponsorships, was attempting something similar, and Ong was determined to help its cause with something more than just an ad-hoc donation. “Singapore is an affluent country, but these underprivileged children don’t have a level playing-field and are neglected,” said Ong. “The boarding school is a great idea. It will give them a better environment. And, hopefully, they will have a fighting chance of getting into university.” 

Fortunately, timing was on his side. The =DREAMS campus, located at 99 Haig Road, the site of the former Geylang Serai Community Club, needed funds to set up a digital lab and RealVantage had its first corporate social responsibility project.   

“It fit nicely with us,” said the unassuming, soft-spoken 49-year-old. “It was an opportune time because as a firm we were growing and dealing with many high-net-worth individuals. And we were thinking about how to give these investors a chance to give back to society.”

Network effect

Work on the lab began in January 2023, just as the charity opened its doors to its first intake, and was completed by July. Not only did RealVantage succeed in getting donations from its investor base, it also leaned on its contacts to locate professionals and suppliers to provide the necessary services, furniture and equipment either free, at cost, or at discounted prices.

“By equipping these teens with digital skills, we are empowering them to navigate the challenges of the modern world and unlocking their full potential,” said Ong. “I am a big believer that education can pull people out of poverty cycles and even vices. If you give them the right environment and nurture them the right way, they will do well,” he said.

The experience of setting up the digital lab yielded many insights.

“In philanthropy, like in any business, you need connections to get things done. And then you have to sometimes use your personal reputation to ask for things. Asking for money is not easy. You have to be thick-skinned,” Ong said.

“The second thing is you need to get your team motivated to do this, because they think it is an extra workload, especially as we're a small company with 22 staff. But the whole idea is to tell them, look, this is for the greater good.”

"I am a big believer that education can pull people out of poverty cycles and even vices."

– Keith Ong, RealVantage

Extended support

A graduate of the National University of Singapore and the University of Cambridge, Ong started his career in 1999 as an analyst with JTC Corp. and went on to become a senior assistant director at the Ministry of Trade and Industry. 

He ventured into real estate in 2005 with ARA Asset Management and has held senior investment management positions at Firmus Capital and Rockworth Capital Partners.

RealVantage was born in July 2019 when Ong and his friend Mao Ching Foo joined hands. Their goal, Ong said, was to “democratise and unlock high-quality real estate investments for every individual.” The platform now has about 6,000 registered users, including investors. 

Although the COVI-19 pandemic hit soon after, the company pulled through by capitalising on its online presence, reaching out to investors through webinars.

“Real estate is my passion,” Ong said. “As an industry, it is able to make meaningful economic and social contributions that benefit society. Over the next few years, we want to continue to grow the company, make it bigger.” 

He expects philanthropy to be an intrinsic part of the firm. “We hope to do more,” he said.

Meanwhile, RealVantage’s support for =DREAMS continues.

“We remain involved in curating and coordinating after-school digital literacy courses and enrichment classes. For example, we have introduced lesson providers,” Ong said. “We also continue to fundraise for =DREAMS.”

Family values

Ong believes philanthropy should be instilled in children. When his two kids were younger, the family made regular visits to an elderly home.

“Initially, they were very reluctant. But it turned out they enjoyed it. You have to let kids see what it's like to be underprivileged. Just open their eyes, make them understand not everyone is as lucky as they are.” 

Despite his hectic schedule, Ong makes time to play tennis and jog. Running, he said, clears his mind and that is when he sometimes comes up with solutions to problems. An oenophile and keen cook, Ong also relaxes by preparing the occasional family meal.

“The biggest blessing from God is my family. They are very important to me. They have given me a lot of strength, a lot of encouragement,” said the Catholic.

His daughter, who in the end decided against the UK boarding school her father found, is now at Anglo-Chinese Junior College. While Ong was keen that she learn to be independent, she felt otherwise. “She told me she isn’t ready to be on her own,” he said. 

He describes his wife as a pillar of strength. 

“She keeps me grounded. She forces me to go on holiday and she makes me take care of my health, because it's so easy to neglect these things,” he said.

About RealVantage

RealVantage is a leading real estate co-investment platform, licensed and regulated by the Monetary Authority of Singapore (MAS), that allows our investors to diversify across markets, overseas properties, sectors and investment strategies.

The team at RealVantage are highly qualified professionals who brings about a multi-disciplinary vision and approach in their respective fields towards business development, management, and client satisfaction. The team is led by distinguished Board of Advisors and advisory committee who provide cross-functional and multi-disciplinary expertise to the RealVantage team ranging from real estate, corporate finance, technology, venture capital, and startups growth. The team's philosophy, core values, and technological edge help clients build a diversified and high-performing real estate investment portfolio.

Get in touch with RealVantage today to see how they can help you in your real estate investment journey.

Disclaimer: The information and/or documents contained in this article does not constitute financial advice and is meant for educational purposes. Please consult your financial advisor, accountant, and/or attorney before proceeding with any financial/real estate investments.