ACRE is pioneering Multifamily development in South East Asia. The growing demand for multifamily is underpinned by the region’s emerging markets and robust economic growth, favorable demographic trends such as population growth, rising middle-class households and urbanization, while contrasted by increasing the lack of affordable housing and institutionally owned and operated properties.
In contrast to traditional residential condominiums, multifamily projects can provide more professional property management services as well as a built-in community catering to various demographic groups and socio-economic backgrounds. Following on from the establishment of ACRE’s affordable housing development platform in Thailand, we are expanding into compelling markets in Asia such as:
• Thailand (Bangkok and Eastern Seaboard)
• Indonesia (Jakarta and Bali)
• The Philippines (Manila)
• Vietnam, (Ho Chi Minh)
Jakarta, Bali, and Bangkok are in particular are the initial expansion targets with sizeable economies that have a growing demand for multifamily housing. Depending on local market characteristics, ACRE’s affordable housing platform may grow through various initiatives including (I) build-to-rent housing projects, and (ii) the conversion of underperforming commercial / hotel / condominium properties into multifamily assets in well-located urban areas close to public transportation and large employment hubs.