M&G Real Estate, a division of M&G plc’s $109 billion private markets business, completed the acquisition of six residential assets in Tokyo for JPY 19.4 billion ($122 million), deploying capital on behalf of its M&G Asia Property and M&G Asia Living Property strategies. The six properties, located across established Tokyo neighborhoods with strong transport links and access to employment hubs, collectively provide over 320 homes spanning a mix of apartment sizes to address high demand for quality rental housing in a market with limited new supply. The acquisitions expand M&G’s residential portfolio in Tokyo, reinforcing its focus on high-quality assets in major global cities as a source of resilient income and long-term growth. Japan’s residential market, particularly in Tokyo, is highlighted for its steady population growth, rising construction costs, and constrained supply, which together sustain strong rental demand and long-term value potential. Jing Dong (JD) Lai, CEO and CIO of M&G Real Estate Asia, emphasized the strategic appeal of Japan’s residential sector, noting the company’s ability to source high-quality assets locally and invest with discipline in a market with enduring appeal. With an $8.5 billion residential and living portfolio in Europe and developed Asia, M&G has leveraged its global living platform to invest in residential assets for over a decade, now managing a $1.4 billion portfolio in Asia Pacific.