PGIM Real Estate acquires 108 Robinson Road for US$107m

PGIM Real Estate has acquired 108 Robinson Road for US$107 million, as part of its deeper push into Asia.

It comes as the real-estate unit of PGIM - the investment management business of Prudential Financial - had raised at least US$970 million in the fourth of its series of Asia-Pacific value-add funds, BT reported in February. 

In a press statement on Tuesday, Benett Theseira, PGIM Real Estate's head of Asia-Pacific, said the acquisition signals "our strong conviction in the recovery of the Singapore office market, as well as our proactive stance for real estate investments in the Asia-Pacific region".