PGIM Real Estate expands rental housing portfolio in Asia Pacific

PGIM Real Estate has expanded its rental housing portfolio in Asia Pacific through strategic acquisitions and development of a series of properties in Australia, Mainland China and Hong Kong, reinforcing its commitment to the underdeveloped institutional rental housing sector across the region.

Benett Theseira, head of Asia Pacific, PGIM Real Estate, commented, “Shifting demographic trends and worsening homeownership affordability are driving demand for rental housing across major cities. The living sector in Asia Pacific is significantly undersupplied, presenting strong growth potential for investors. The institutional residential market, which offers high-quality, professionally managed housing units, is in a nascent stage in the region outside of Japan.”

While PGIM Real Estate has a significant multifamily portfolio in Japan, its latest rental housing investments in Australia, Mainland China and Hong Kong, acquired on behalf of PGIM Real Estate’s value-ad