PGIM Real Estate has appointed Matthew Yao as head of China.
In this new role, Matthew Yao will oversee the Shanghai-based investment team that currently supports the deployment of PGIM Real Estate’s pan-Asian investment funds in China.
Benett Theseira, PGIM Real Estate’s head of Asia Pacific commented: “China has always been an important market within our regional strategy, and we expect to expand our investment activity as well as grow our capital relationships there. We see strong potential in the Chinese economy’s growth, as it contributes increasingly to a major portion of the global economy and investment-grade real estate pie.”
“Matthew’s deep domestic expertise and relationships will build on our legacy in China and complement our existing team in Shanghai –accelerating our ability to access growth opportunities on the ground and scale up our business in China for the benefit of our global client base.”
Most recently from CBRE Global Investors where he headed its China business, Yao has a strong track record of launching, investing and managing real estate funds in China on behalf of both local and foreign investors.
Matthew Yao will be responsible for the oversight, strategic development and growth of PGIM Real Estate’s businesses in China, said PGIM Real Estate in a statement.
”His focus in particular will be on growing PGIM Real Estate’s pool of investment opportunities, through joint venture partnerships and strengthened domestic capital relationships, and developing future investment vehicles in China.”
PGIM Real Estate has a track record of investing in China since 1999 and has invested across the major asset classes, including residential, office, retail and more recently logistics and co-living apartments.