SINGAPORE-Prudential Real Estate Investors hasconsolidated its closed-end Asian Retail Mall funds into one $3billion open-end property fund, Pramerica AsiaRetailLtd. The new fund will expand, hold and actively manage 11retail assets in Malaysia and Singapore totaling more than threemillion square feet.

The fund, to be managed by Pramerica Real EstateInvestors (Asia) Pte. Ltd., now allows institutionalinvestors to take advantage of opportunities in Asia’s growingretail sector, according to a statement by the firm.Victoria Sharpe, CEO of the company’s Asia Pacificbusiness, said in the statement that the fund is the second largestshopping center owner in Singapore.

The properties in the fund include includes Tiong Bahru Plaza,Century Square Shopping Centre, Hougang Mall, White Sands ShoppingCentre, Tampines 1, Liang Court and Central Plaza in Singapore. TheMalaysia properties include Kinta City Shopping Centre, IslandPlaza, SSTwo Mall and 1st Avenue Mall.