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27 March 2025

M&G Real Estate makes landmark value add investment in South Korea

2025
  • Brings M&G’s South Korea AUM to circa USD3 billion1

Singapore / Hong Kong / South Korea, 27 March 2025 – M&G Real Estate (M&G), on behalf of a separately managed account focusing on value-add opportunities, has acquired a 25.3% stake in the five-star Conrad Seoul Hotel in South Korea for USD37.5 million2.

This investment into one of Seoul’s most established luxury hotels, follows a number of value add deals in the UK, Europe and Asia in recent times, using M&G’s deep expertise in executing higher return strategies.
Located in Yeouido, Seoul’s financial business district, the Conrad Seoul Hotel is part of the International Finance Center Seoul. Offering world class hospitality, the 434-room hotel caters to both business and leisure travellers, allowing it to maintain high occupancy and yield. M&G plans to optimise room layouts and repurpose event spaces to boost revenue.

Daniel Cho, Head of Korea, M&G Real Estate said: “As central business districts around the world evolve, value add strategies can reposition existing buildings and upgrade assets to drive higher returns. Seoul’s hospitality sector is at an inflection point with revenue expected to reach nearly USD10 billion by 20293. This acquisition demonstrates M&G’s expertise in identifying assets that can be future proofed to stand the test of time.”

M&G has a long-standing focus on investments with strong fundamentals, complemented by its growing expertise in value-enhancing strategies. The addition of BauMont Real Estate Capital in Europe to its global real estate platform, has further expanded M&G’s ability to execute value-add strategies globally. This expansion allows M&G to offer investors more opportunities across various sectors and regions, combining its proven track record with enhanced European capabilities. With increasing interest from European and Asian investors, M&G can be well positioned to drive growth and deliver sustainable results globally.

Martin Seol, Head of Targeted Strategy, M&G Real Estate Asia, said: “This acquisition exemplifies our active management approach – identifying high-potential assets and enhancing them to drive long-term value. As our first hospitality asset for this strategy, the Conrad Seoul Hotel provides portfolio diversification, and demonstrates our approach in action across different property sectors.”
M&G Real Estate is part of M&G Investments’ USD 92.8 billion private markets business.


Media enquiries

Dinah Seah

M&G Investments (Asia)

Sabrina Cheng

M&G Investments (Asia)

Notes to Editors

  • The property has strong sustainability credentials that include the IFC Complex-wide LEED Gold certification4  and G-SEED certification5.
  • In November 2024, M&G acquired a majority stake in BauMont Real Estate Capital – a leading European investment manager specialising in value add strategies, further expanding its ability to execute value add strategies globally.

1 As of 28 February 2025
2 e acquisition has been completed for KRW49.8 billion (USD37.5 million); exchange rate: 1 USD: KRW 1,330
3 Statista, 2024
4 LEED (Leadership in Energy and Environmental Design) is a global green building rating system by the U.S. Green Building Council, promoting sustainable, efficient, and cost-saving buildings.
5 G-SEED (Green Standard for Energy and Environmental Design) certification is a system used to assess green buildings that are in operation in Korea.

 

  • M&G Real Estate Asia launched Targeted Strategy in 2019 to invest into value-add opportunities, across the office, logistics, residential, hotels and alternative property sectors in key gateway cities across Asia Pacific, UK and Europe.
  • The strategy aims to derive increased rental income and capital appreciation by active asset management including refurbishment and repositioning a diversified portfolio of real estate assets.
M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has US$433.2 billion of assets under management (as at 31 December 2024). M&G plc has around 4.6 million customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI). M&G plc has committed to achieve net zero emissions by 2050 at the latest, across our investment portfolios and operations.

M&G Real Estate is a leading financial solutions provider for global real estate investors. As part of M&G Investments’ private markets business, M&G Real Estate has a sector leading approach to responsible property management and is committed to continuously improving the sustainability performance of its funds. Globally M&G Real Estate manages more than US$42.3 billion (as at 31 December 2024) of assets on behalf of clients, providing a range of strategies and solutions.

This press release reflects the authors’ present opinions reflecting current market conditions; are subject to change without notice; and involve a number of assumptions which may not prove valid. It has been written for informational purposes only and should not be considered as investment advice or as a recommendation of any particular security, strategy or investment product. Past performance is not a guide to future performance.

The services and products herein are available only to investment professionals and are not available to individual investors, who should not rely on this communication. Information given in this document has been obtained from, or based upon, sources believed by us to be reliable and accurate although M&G does not accept liability for the accuracy of the contents.

This financial promotion is issued by M&G Luxembourg S.A. in the EEA, registered office 16, boulevard Royal, L-2449, Luxembourg and M&G Investment Management Limited in the UK and outside the EEA (unless stated otherwise), registered in England and Wales under numbers 936683 with its registered office at 10 Fenchurch Avenue, London EC3M 5AG. M&G Investment Management Limited is authorised and regulated by the Financial Conduct Authority. M&G Luxembourg S.A. may terminate arrangements for marketing under the new Cross-Border Distribution Directive denotification process. M&G Real Estate Limited is registered in England and Wales under number 3852763 and is not authorised or regulated by the Financial Conduct Authority. M&G Real Estate Limited forms part of the M&G Group of companies.

In Hong Kong: Issued by M&G Investments (Hong Kong) Limited. Office: Unit 1002, LHT Tower, 31 Queen’s Road Central, Hong Kong. In Singapore: Issued by M&G Real Estate Asia Pte. Ltd. (Co. Reg. No. 200610218G), regulated by the Monetary Authority of Singapore.


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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

M&G plc は、イングランド及びウェールズで設立・登録。本社登録地は10 Fenchurch Avenue, London EC3M 5AG。登録番号11444019。M&G plcは持ち株会社で、その子会社の一部はPRA(健全性監督機構)及びFCA(金融行為規制機構) に認可され、それらの規制対象となっています。

M&G plc は、イングランドを登録地、及び主たる事業領域とする会社で、その関連会社は有数の貯蓄・投資機関として基盤を確立しています。M&G plcは、Prudential Assurance Company Limited(プルデンシャル・アシュアランス・カンパニー・リミテッド)の直接親会社です。なお、Prudential Assurance Company Limitedは、アメリカ合衆国を主たる事業領域とするPrudential Financial, Inc.(プルデンシャル・ファイナンシャルInc.)またはイングランド及びウェールズで設立された国際グループ企業であるPrudential plc(プルデンシャル・ピーエルシー)とは一切関係がありません。

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.