M&G Real Estate invests $295m in Singapore

M&G Real Estate, real estate investment affiliate of U.K.-based Prudential PLC, will finance Singapore’s government-owned infrastructure consultancy Surbana Jurong to acquire its new global headquarters, a transaction worth S$400 million ($295 million).

It marks the firm’s first business park office investment in Singapore.

The campus will be developed by Surbana Jurong’s investment arm, Surbana Jurong Capital, in the upcoming Jurong Innovation District in the city-state on the land parcel acquired by M&G Real Estate. The 68,915-square-meter (741,794-square-foot) business park office comprises seven floors and two basement levels, and it will accommodate up to 4,000 employees. It will be completed by 2021.

The campus will support Surbana Jurong’s rapid growth by facilitating stronger. The campus’ location in the Jurong Innovation District provides the company access to a vibrant and collaborative ecosystem of R&D and capability developers,