The real estate arm of UK-based M&G has appointed a portfolio manager for the living sector in Asia.
M&G Real Estate has appointed David Askham as director of portfolio management, Asia living, according to a statement. In the role, he will be responsible for spearheading the growth and strategic direction of the firm’s investments in the Asia Pacific living sector.
Askham has 25 years of property experience, including over 20 years at M&G. He joined M&G Real Estate in London in 2001 before later relocating to the Singapore office in 2006.
«David’s successful track record in portfolio management and analyzing market dynamics, provides the business with a strong leader who will enable us to capitalize on the untapped potential in Asia Living sector on behalf of our global investor base,» commented Jing Dong Lai, CEO and chief investment officer (CIO) of M&G Real Estate Asia.
Fresh Investments
As part of the firm’s expansion, M&G’s Life business will commit $250 million to the living sector in addition to the acquisition of a $68 million prime residential portfolio in Osaka.
«Through our collaboration with M&G Real Estate, we are investing in more Asian real estate and, specifically, in the residential sector as institutional investors increasingly play a role in providing high quality living accommodation in gateway cities across the UK, Europe and Asia,» said Ciaran Mulligan, CIO of M&G’s life business.
«Our acquisition of prime multi-family assets in Osaka reinforces our long-term belief in Japan’s residential sector,» Lai added. «This investment is a direct reflection of our conviction in the Living sector and our vision of building a diversified, high-quality residential portfolio in Asia to complement our existing capabilities.»
