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KUALA LUMPUR (June 13): Hektar Real Estate Investment Trust (Hektar REIT) is actively looking to acquire more assets outside of Klang Valley, to bolster its financial performance.
Hektar Asset Management Sdn Bhd chief executive officer Datuk Hisham Othman said retail-centric Hektar REIT was always looking at assets with good yields, especially outside the Klang Valley. Hektar Asset Management is the manager of Hektar REIT.
"We cannot be definite [as to] when it (the asset acquisition) will be. Our management team is always on the lookout but we cannot disclose any assets that we are buying, until we sign the sale and purchase agreement.
"We are venturing outside the Klang Valley, because the yields are better compared to Klang Valley, as it (Klang Valley) is a tough market to find a property that meet our criteria.
Klang Valley is a saturated location," Hisham told reporters after Hektar REIT's extraordinary general meeting here today.
Hektar REIT's shopping mall portfolio includes Subang Parade in Selangor and Mahkota Parade in Melaka. In Johor, the REIT, which owns Wetex Parade in Muar, is in the midst of acquiring the 1Segamat Shopping Centre.
In Kedah, Hektar REIT owns Central Square in Sungai Petani and Landmark Central in Kulim. — theedgemarkets.com
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