abrdn plc, a global investment company, announced earlier this month the expansion of its real estate investment business in Japan via its subsidiary, abrdn Japan Limited.
This latest update comes as abrdn commences a new investment mandate to manage a residential portfolio in Japan.
The investment mandate is reportedly managed by abrdn Japan for Dutch pension investor PGGM.
In alignment with this expansion, abrdn Japan appointed Harumi Kadono as Head of Japan Real Estate.
Ken Yajima, Chief Executive Officer of abrdn Japan, said that the Japanese market is key to abrdn’s global business strategy.
Ken noted that they are committed to this market and continuously strengthen the local team to offer services and investment solutions to Japanese investors.
Ken added that this expansion underlines their aim to excel in the Japanese real estate market.
Ronald Bausch, Senior Director at PGGM private real estate expressed enthusiasm about the collaboration, stating they are eager to expand the global relationship that they already have had for years with abrdn.
Ronald added that this allows them to act upon opportunities throughout the region more efficiently.
The timing of abrdn’s expansion coincides with the initiation of the US Federal Reserve’s monetary “easing cycle.”
Global real estate, as an asset class, is likely to gain from the lower interest rate environment, while the Japan residential market is further “supported by the robust fundamentals of the Japanese economy and substantial local demand.”
Anne Breen, Global Head of Real Estate, said that amidst evolving policy and economic landscapes, the Asia Pacific market presents “a rich tapestry of investment opportunities.”
As noted in the update Japan’s residential sector, in particular, stands out due to its occupier demand and defensive attributes, “continuing to draw significant capital from global investors.”
As explained in the announcement, this expansion underscores their commitment to enhancing real estate capabilities globally and across diverse segments.
As a participant in the real estate market for 50 years, abrdn has experience in managing real estate investments, real estate multimanager services, listed real estate, and real estate debt solutions.
As of 30 June 2024, abrdn managed £35 billion in real estate assets.