Prupim steps up focus on Asian real estate

UK-based Prupim is the latest global real estate investment heavyweight to signal an increasing interest in Asia and to strengthen its capability in key markets there.

The firm announced it is opening new offices in Tokyo and Seoul and has hired four professionals to expand its team in the region.

'We're now extending our network of offices, and adding experienced industry professionals with deep local and regional knowledge strengthens our investment proposition. Asia is a core market for Prupim and one with excellent potential for us and our clients,' said Alex Jeffrey, chief executive of Prupim.

Prupim is part of the M&G investment management group, and one of the top 20 global property investors.

Asia is looking increasingly attractive as a diversifier for European-based real estate investors as the eurozone crisis and economic gloom continues to dog domestic markets.

A recent investment briefing organised by PropertyEU heard that Japan is gradually reappearing on core investors' radar screens. Though in the early stages, this is a major turnaround for a market that has long been viewed as an almost no-go area for all but the most opportunistic capital due to the country’s persistent recessionary environment.

Read the full report on the Japan Investment Briefing in the December edition of PropertyEU Magazine.