M&G : MRGE M&G Real Estate deepens Tokyo living exposure with $126m in residential acquisitions

Singapore / Hong Kong / Tokyo, 28 April 2026 - M&G Real Estate, part of M&G's USD 109 billion private markets business¹, has acquired six residential assets in Tokyo, Japan, investing JPY 19.4 billion (c. USD 126 million) on behalf of the M&G Asia Property strategy and the M&G Asia Living Property strategy. The acquisitions expand M&G's residential portfolio in Tokyo and increase its exposure to a sector providing resilient income and long-term growth potential, reflecting its continued focus on high-quality residential assets in major global cities.

Japan's residential market - particularly in Tokyo - continues to stand out, with limited new supply, rising construction costs and steady population growth in major urban centres supporting rental demand. These dynamics make the sector an attractive source of resilient income and long-term value.

The six properties are located across established Tokyo neighbourhoods with strong transport links and access to employment hubs and everyday amenities. Together, they provide more than 320 homes across a mix of apartment sizes, helping to meet demand from a broad range of renters in a market where quality rental housing remains scarce.

Jing Dong (JD) Lai, Chief Executive Officer and Chief Investment Officer of M&G Real Estate Asia, said: "Japan continues to stand out as an attractive residential market, particularly in Tokyo, where demand for well located rental homes remains strong. These acquisitions demonstrate our ability to source high quality assets locally and invest with discipline in a market with long term appeal. As we expand our footprint in Japan, we remain focused on building a resilient, diversified portfolio for our investors."

These acquisitions demonstrate M&G's strength across European and Asian real estate strategies, spanning core, value-add and debt. With a USD 8.5 billion1 residential and living portfolio in Europe and developed Asia, M&G leveraged its global living platform to invest in residential assets for more than a decade, amassing a USD 1.4 billion¹ portfolio in Asia Pacific.

¹ As of 31 December 2025