Noteworthy:

• Freehold
• Built-up size: 12,477 sq ft
• Unfurnished
• Nearby amenities: Miharja and Maluri LRT stations, Chan Sow Lin MRT station, CIDB Convention Center, Fraser Business Park, various residential developments
• Accessibility: Jalan Loke Yew, Jalan Cheras, MEX, SPE, Sungai Besi Expressway

When: December 2023

Axis Real Estate Investment Trust (Axis REIT), which focuses on industrial assets, is disposing of its property in Nusajaya, Johor, for RM162 million cash to a data centre operator. It did not disclose the identity of the purchaser.

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.

ESP Global Services celebrated its 2½ years as a “beacon of innovation and growth in the real estate industry” during its third Awards Night and Gala Dinner last month.

While the opening of The Exchange TRX is anticipated to intensify competition in the malls sector, Pavilion Real Estate Investment Trust (PavREIT) said footfalls at its malls nearby — Pavillion KL and the connected Pavilion Elite — remain unaffected, and they are still enjoying over 95% occupancy rates.

Inta Bina Group Bhd has bagged a contract worth RM169.67 million to develop a serviced apartment project in Country Heights.

Noteworthy:

• Freehold
• Built-up size: 603 sq ft
• Fully furnished
• 1 bedroom, 1 bathroom
• Nearby amenities: Ampang Park MRT station, Intermark Mall, KLCC Park, The LINC KL, Suria KLCC, Petronas Twin Towers, Pavilion KL, The Royal Selangor Golf Club, The Exchange TRX, TERKL
• Accessibility: Jalan Tun Razak, Jalan Ampang, AKLEH, MRR2, KLCC Tunnel

When: November 2023

Axis Real Estate Investment Trust (Axis REIT) reported a 39.5% surge in its net trust income for the first quarter ended March 31, 2024 (1QFY2024), attributable to post-development contributions from its Bukit Raja Distribution Centre 2, and new tenancies in its Shah Alam Distribution Centre 3.

KIP Real Estate Investment Trust (KIP REIT), a trust which mainly manages retail and industrial properties, said its net property income (NPI) for the third quarter rose 10.1% from a year ago, mainly due to stronger performance from its retail properties.