The tables above show clearly how the Asia Pacific real estate environment has changed in recent years.
When ANREV launched its first fund manager survey in 2009, the list of managers was dominated by US organisations, which accounted for three of the five largest managers.
In the most recent survey, all of the top 10 players are based in the region. Singapore dominates, being home to the top three managers, with six Australian players and one from Japan – Kenedix.
Of the 2009 top 10, ING REIM and MGPA no longer exist, having been acquired by CBRE Global Investors and BlackRock respectively. Morgan Stanley, LaSalle and Pramerica (now PGIM) remain active in the region but are relatively smaller.
"Since the launch of the first ANREV Fund Manager survey in 2009, managers based in this region have grown significantly, showing the development of the non-listed funds business here and also the growth in underlying real estate markets,” says Amelie Delaunay, director, research and professional standards, at ANREV.
“We have also seen the launch of a number of new Asian fund managers. It was inevitable that Asia Pacific managers would come to dominate their home region, but managers from all over the world are also growing their businesses here."
ANREV Fund Manager Survey 2018