Developed Asia’s real estate markets present a compelling opportunity, driven by:

• Competitive Returns: Over 20 years, core Asian assets have beaten the U.S. and Europe by at least 160 basis points annually, with higher risk-adjusted returns.

• Diversification: Low correlation of returns with Western markets, stable regulations, and strong transparency support foreign investment allocations to the region.

• Strong Liquidity: Deep local capital markets, backed by pension and sovereign funds, ensures ample liquidity through the market cycle.

• Rental Recovery and High Cash Yields: The rental recovery is broadening, while the key markets of Australia and Japan can deliver cash yields of over 6%, with asset performance underpinned by constrained development pipelines in the next 2-3 years.

• Economic Resilience: Amid economic and geo-political shocks, Developed Asia continues to deliver steady growth, supported by integration with the region's giant emerging markets which have a population of 3.5 billion.