Under the proposed land lease agreement, the 7.02-acre project land, which is vacant and located within the proposed Malaysia International Aerospace Centre Technology Park at the airport, will be leased out to Upeca at an intial sub-lease period of 30 years, with an automatic renewal and/or extension for a further 19 years up to Dec 30, 2066.
PETALING JAYA: Axis Real Estate Investment Trust (REIT), via its trustee RHB Trustees Bhd, has inked a sub-lease agreement with Malaysia Airports Holdings Bhd
(MAHB) for the proposed land lease and construction of a manufacturing plant-cum-office building at the Sultan Abdul Aziz Shah Airport in Subang, Selangor.
Axis REIT is expected to derive rental income from the proposed development upon commencement of the sub-lease.
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