M&G Real Estate has entered Australia’s senior living sector through a partnership with Sydney-based property developer Stockland.

This is M&G’s first investment on behalf of its Asia Pacific Living Strategy into senior living in the region, reflecting growing institutional interest in the sector as people seek purpose-built homes suited to their lifestyles in retirement.

As people live longer and healthier lives, it is reshaping retirement housing needs, with many seeking homes that support independent living while enjoying shared amenities within a connected community. In Australia, land lease communities are becoming popular by offering professionally managed, master‑planned neighbourhoods where people own their home and rent the site it sits on.

Through this partnership with Stockland, M&G is investing in two purpose-built communities in Melbourne’s south-eastern growth corridor. Halcyon Jardin ( Clyde North ) and Halcyon Evergreen ( Clyde ) are expected to deliver 573 homes through staged completion to 2029.

M&G will acquire a 49.9% interest in the partnership, building on its logistics partnership with Stockland in 2024. Early home sales have been secured, the companies say, thanks to the communities’ attractive designs, high-quality amenities, and recreational facilities that encourage active and social lifestyles.

Jing Dong ( JD ) Lai, chief executive officer and chief investment officer of M&G Real Estate Asia, comments:  “Our entry into Australia’s land lease community sector reflects our conviction in senior living as a structurally supported segment that is becoming increasingly institutional. We see meaningful opportunity in creating well‑planned communities and homes designed for retirement living. By combining global capital with experienced local development and operating capability, we are building diversified residential exposure capable of delivering attractive development-led growth and durable returns for investors.”

M&G Real Estate manages about US$9.3 billion globally across living strategies, spanning multifamily, purpose-built student accommodation and senior living assets across the United Kingdom, Europe, and Asia-Pacific.  Its Asia Pacific Living platform includes multifamily exposure in South Korea, student accommodation in Australia, and a prime residential portfolio in Osaka.