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- This marks Axis REIT’s fourth acquisition this year, bringing its total investments for the year to RM964.6 million.
KUALA LUMPUR (Dec 31): Axis Real Estate Investment Trust (KL:AXREIT) said on Wednesday (Dec 31) it is acquiring an industrial property in Senai, Johor, for RM34.6 million.
This marks Axis REIT’s fourth acquisition this year, bringing its total investments for the year to RM964.6 million.
The property is a 0.81-acre plot of leasehold industrial land designated for medium industrial use. It is proposed to be developed into a double-storey detached factory with a mezzanine floor, together with a double-storey office building and other ancillary facilities.
RHB Trustees Bhd, the trustee for Axis REIT, will undertake the proposed acquisition from Banyan Estate Malaysia Sdn Bhd, according to a filing by the REIT’s manager.
The property is located within Flagship E of the Johor–Singapore Special Economic Zone and offers access to the Second Link Highway and the Senai–Desaru Highway.
The buildings will be developed by Banyan Estate in accordance with agreed specifications under an agreement to build and lease entered into between RHB Trustees, Banyan Estate and the lessee, FCI Connectors Malaysia Sdn Bhd. It will be fully occupied upon completion of the sale and purchase agreement.
The REIT plans to fund the acquisition using existing bank financing, with completion expected by the fourth quarter of 2027.
As at Sept 30, 2025, the trust had a portfolio of 68 properties across the Klang Valley, Johor, Penang, Pahang, Negeri Sembilan and Kedah, with an average occupancy rate of 97% and a total asset value of RM5.23 billion.
Axis REIT units closed down one sen, or 0.5%, at RM1.92, giving the REIT a market capitalisation of RM3.89 billion.
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