According to a press statement, asset manager Samurai Capital — which has experience in managing multi-family assets in Japan— will also be a partner in this venture. 

Thomas Wong, partner of Proprium Capital Partners, said: “We believe that these properties will outperform the market and generate positive returns for our investors. Through the collaboration between Proprium and our co-investors, we look forward to scaling up in the Japan multifamily sector.” 

In collaboration with Samurai Capital, the venture aims to build a portfolio worth up to JPY 80 billion (approximately US$ 600 million) targeting urban dwellers in Tokyo & Osaka. These high-quality properties offer convenient access to transportation & neighborhood amenities.

— Mubadala (@Mubadala) June 14, 2023

The statement added that this property portfolio will target urban dwellers in Tokyo and Osaka, and these residential dwellings will also offer convenient access to railway stations and nearby neighborhood amenities. 

Kenneth Tsang, senior managing director and head of Real Estate Asset Management, Asia for Manulife Investment Management, said: “Our investment in this venture provides us with a further footprint in Japan and the multifamily sector which remains our favorable asset class globally. We believe the partnership will help us accelerate our growth plans and strengthen our competitive market position not only in Japan but also globally.” 

The press statement further noted that this residential portfolio will follow principles of sustainability from the construction stage. 

“Japan is a key strategic market for Mubadala, and we look forward to working with our partners to create long-term value and deliver sustainable high-quality living spaces for communities across the country,” said Matthias Neuling, head of Asia Real Estate for Mubadala.