PGIM Invests $400 Million in Rental Housing in Hong Kong, China, and Australia Amid High Demand

PGIM Real Estate has invested $400 million in rental housing markets in Hong Kong, China, and Australia due to strong demand and discounted assets.

PGIM sees a growing need for affordable rental housing in expensive cities like Hong Kong, Shanghai, Sydney, and Melbourne.

PGIM has acquired purpose-built rental properties and converted hotels into rental units in Hong Kong.

PGIM formed a joint venture in Australia to develop 1,250 rental units in major cities like Brisbane and Sydney.

High home prices, strong immigration, and high interest rates are driving rental demand in Hong Kong and Australia.