M&G Real Estate buys six Tokyo residential assets for JPY19.4 bil

Atiqah Mokhtar

/ EdgeProp Singapore

April 28, 2026 5:10 PM SGT

propertyeditor@edgeprop.sg

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The Machiya (left) and Meguro (right) residential assets in Tokyo, Japan that are being acquired by M&G Real Estate (Pictures: M&G Real Estate)

M&G Real Estate is acquiring six residential assets in Tokyo, Japan, for JPY19.4 billion ($162 million). Together, the properties provide more than 320 homes across a mix of apartment sizes.

Three assets are newly built and located in the Ryogoku and Hikifune neighbourhoods within the Sumida Ward on the eastern side of Tokyo, popular with younger residents and families. Comprising 182 residential units, they offer one- to four-bedroom apartments that were completed between 2024 and 2025.

The remaining three properties are located in Meguro, Mita and Machiya, with convenient access to central business districts and transport infrastructure. The Meguro asset includes ground-floor retail and office components, while the Mita asset also features ground-floor retail space. These three assets have a total of 138 residential units across a diverse mix of apartment layouts, ranging from studios and one-bedders to larger multi-bedroom homes.

All six properties are situated in established Tokyo neighbourhoods with strong transport links and access to employment hubs and everyday amenities, M&G Real Estate said in an April 28 statement.

The firm added that the acquisition, on behalf of the M&G Asia Property and M&G Asia Living Property strategies, increases its exposure to a sector providing resilient income and long-term growth potential.

“Japan continues to stand out as an attractive residential market, particularly in Tokyo, where demand for well-located rental homes remains strong,” says Lai Jing Dong, CEO and chief investment officer at M&G Real Estate Asia.

The Japanese residential market faces limited new supply, rising construction costs and steady population growth in major urban centres, which support rental demand.

M&G Real Estate's portfolio of residential and living assets across Europe and developed Asia stood at US$8.5 billion ($10.85 billion) as at Dec 31, 2025. The company said it has leveraged its global living platform to invest in residential assets for more than a decade, amassing a US$1.4 billion portfolio in Asia Pacific.

As part of M&G Investments' private markets business, M&G Real Estate manages about US$45.3 billion (as at Dec 31, 2025) of assets on behalf of clients in a range of strategies and solutions.