Mg Real Estate Appoints Jason Leong Fund Manager Asia Property Fund
The renowned investment firm, M&G Real Estate, has recently announced the appointment of Jason Leong as the new fund manager for its flagship M&G Asia Property Fund. With a current value of US$7 billion ($9.04 billion) as of March 31, this fund is the largest open-ended, core real estate fund in the region, boasting a successful 20-year track record.
According to a press release dated May 6, Leong’s appointment is a part of M&G’s long-term succession plan. Leong has been with M&G for the past two years as the deputy fund manager, working closely with his predecessor, Richard van den Berg, to oversee the growth and composition of the fund’s investment portfolio. During his tenure, Leong has successfully led multiple strategic acquisitions and developments, including the recent acquisition of a 50% stake in the Ingleburn Logistics Park in Sydney, valued at US$135.2 million, as well as the completion of M&G’s first business-park office investment in Singapore, the Surbana Jurong Campus. With over 25 years of experience in real estate investment and management in the Asia Pacific region, Leong is a valuable addition to the team.
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Van den Berg, who has had a successful 36-year career in real estate investment management, with over a decade spent at M&G, has announced his retirement at the end of June. Speaking on Leong’s appointment, Jing Dong Lai, CEO of M&G Real Estate Asia, praised Leong’s extensive experience and his successful collaboration with van den Berg that has contributed to the impressive performance of the M&G Asia Property Fund in the last two years. Lai also expressed confidence in Leong’s ability to lead the fund into its next phase, driving further growth and exploring new opportunities in the ever-evolving real estate market.
Van den Berg also expressed his confidence in Leong’s capabilities, stating, “Having worked closely with Jason, I am confident that he is well-equipped to lead the talented team and continue to deliver for our clients.”
M&G Real Estate is among the top 11 largest real estate managers globally, with headquarters outside the US. The company has nine offices in Europe and four in the Asia Pacific region, showcasing its strong presence in both markets.