M & G Real Estate Asia expands its portfolio by purchasing a Singapore business park
M & G Real Estate Asia expands its portfolio by purchasing a Singapore business park. M & G Real Estate Asia has expanded its portfolio by purchasing a Singapore business park. M & G Real Estate Asia purchased the Sinagapur business park for $ 400 million. M & G Real Estate Asia aims to develop its business park in Singapore.
The manager has signed with the consulting firm Surbana Jurong to support the acquisition of the new global headquarters Surbana Jurong Campus. The agreement is the first business park agreement of M & G Real Estate Asia in Sinagapur. Singapore’s office assets fund managed 5.8 billion US dollars.
Surbana Campus will be developed by M & G Real Estate Asia. Once completed, the entity will be rented to Surbana Jurong for a long term.
Richard van den Berg, the manager of M&G Real Estate’s core Asian property strategy, said: “The property is backed by a top-tier tenant and is well positioned to benefit from government-driven initiatives to develop high value-adding industries in this new business district.”
Chiang Ling Ng, CEO and CIO of M&G Real Estate in Asia, said: “This acquisition underscores our ability to truly understand our clients’ preferences and needs to create opportunities that work for them and to source and structure high quality investments for our investors.”
Sevdenur Demir / [email protected]