Axis REIT buys Pasir Gudang property for RM75m

Axis REIT said on Monday its trustee, RHB Trustees Bhd had entered into a sale and purchase agreement to acquire a property from Xin Hwa Trading & Transport Sdn Bhd and then lease it back to the latter.

KUALA LUMPUR: Axis Real Estate Investment Trust’s (Axis-REIT) is purchasing leasehold land with warehouse in the Pasir Gudang industrial zone, Johor from Xin Hwa Holdings Bhd for RM75mil.

Axis REIT said on Monday its trustee, RHB Trustees Bhd had entered into a sale and purchase agreement to acquire a property from Xin Hwa Trading & Transport Sdn Bhd and then lease it back to the latter.