PGIM Real Estate has completed the acquisition of 108 Robinson Road, a 12-story freehold office building located in the heart of the Singapore CBD for $107 million. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.5 trillion global investment management business of U.S.-based Prudential Financial.
Within walking distance to the Tanjong Pagar, Telok Ayer and the upcoming Shenton Way Mass Rapid Transit stations, the property provides convenient access to and from many key residential and commercial hubs across Singapore. A rare freehold office asset in the Singapore CBD, 108 Robinson Road is an opportunistic acquisition that offers numerous asset enhancement and exit strategies.
“This acquisition signals our strong conviction in the recovery of the Singapore office market, as well as our proactive stance for real estate investments in the Asia Pacific region,” said Benett Theseira, PGIM Real Estate’s head of Asia Pacific. “
