News

PGIM Real Estate launches innovation arm

PGIM real estate tech labPGIM Real Estate has launched a research and innovation lab to develop products and services based on new technology and academic links.
The lab, RealAssetX, will focus on sustainable technology, artificial intelligence and deep tech to develop products for real estate owners, operators and managers. PGIM Real Estate is the real estate investment management business of PGIM, the principal asset management business of Prudential Financial. The firm, with roughly $210 billion in assets under management, has also partnered with universities in different regions, including the Asia-Pacific (APAC).
The University of New South Wales will work on deep tech and sustainability research in the APAC region, while the National University of Singapore will focus on AI and predictive data analytics. The firm said that new technology will be critical to achieving net zero targets, given that the current technology will only allow 60% of these targets to be reached by 2050.
“The impact of the fast-moving technology wave on the real asset industry means that investment managers’ success will be defined by their ability to be tech-enhanced through every stage of the investment lifecycle,” said Raimondo Amabile, co-CEO and global chief investment officer at PGIM Real Estate. ©2023 funds global asia

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