PETALING JAYA: Axis Real Estate Investment Trust is proposing to acquire an industrial complex and an open storage yard in Klang, Selangor from Amsteel Mills Sdn Bhd for RM351.8mil.
Axis-REIT said the proposed acquisition of the properties is in line with the fund’s investment objectives and its growth strategy to provide the unitholders with stable income distribution and to achieve growth in the net asset value per unit of Axis-REIT, by acquiring high quality, earnings accretive properties with strong recurring rental income.
With the completion of the proposed acquisition of the properties, Axis-REIT said it will have a significant presence within Bukit Raja with properties sitting on a total land area of 119.12 acres.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: UMonline - 🏆 27. / 51 Read more »