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- The property comprises 3.64 hectares of land with buildings on the site, including a single-storey detached factory with a double-storey office annex, a standalone double-storey office and canteen block, and a single-storey detached warehouse with a double-storey office annex and additional ancillary buildings.
KUALA LUMPUR (Sept 4): Axis Real Estate Investment Trust (KL:AXREIT) said it is acquiring an industrial property in Port Klang for RM50 million.
The property comprises 3.64 hectares of land with buildings on the site, including a single-storey detached factory with a double-storey office annex, a standalone double-storey office and canteen block, and a single-storey detached warehouse with a double-storey office annex and additional ancillary buildings.
RHB Trustees Bhd, the trustee for Axis REIT, is acquiring the property from Barry Callebaut Malaysia Sdn Bhd, according to Axis REIT's filing with Bursa Malaysia on Thursday.
According to the filing, the property’s location in the Bandar Sultan Suleiman industrial area supports the REIT's strategy of acquiring high-quality, income-generating assets. The location, accessible via the New North Klang Straits Bypass, also enhances long-term portfolio value.
Axis REIT said the property is expected to boost distributable income once leased or rented out.
It said the acquisition will be funded through the REIT’s existing bank financing and is expected to be completed by the first quarter of 2026.
Axis REIT units closed up one sen, or 0.5%, at RM2.04, giving the REIT—which primarily focuses on industrial assets—a market capitalisation of RM4.12 billion.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
