Abrdn plc today announced the expansion of its real estate investment business in Japan through its subsidiary, abrdn Japan Limited. This strategic move is marked by commencing a new investment mandate to manage a residential portfolio in Japan, according to a statement by the UK-based asset manager.
The investment mandate is managed by abrdn Japan for Dutch pension investor PGGM. In alignment with this expansion, abrdn Japan has appointed Harumi Kadono as head of Japan real estate.
Ken Yajima, chief executive officer of abrdn Japan, said: “The Japanese market is pivotal to abrdn’s global business strategy. We are deeply committed to this market and continuously strengthen our local team to offer superior services and innovative investment solutions to both Japanese investors and those looking to invest in Japan.”
Global real estate, as an asset class, stands 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, according to abrdn.
Anne Breen, global head of real estate, said: “Japan’s residential sector, in particular, stands out due to its robust occupier demand and defensive attributes, continuing to draw significant capital from global investors.”
As of 30 June 2024, abrdn managed £35bn ($46bn) in real estate assets and around 1,000 properties globally.
