Axis-REIT to buy logistics warehouse for RM390mil, its largest acquisition


KUALA LUMPUR: Axis Real Estate Investment Trust’s (Axis-REIT) trustee, RHB Trustees Bhd has entered into a sale and purchase agreement to acquire a 1.54 million sq ft logistics warehouse facility in Pelabuhan Tanjung Pelepas (PTP), Johor from Equalbase PTP Sdn Bhd (EPSB) for RM390mil.

In a statement, Axis-REIT said upon the completion of the proposed acquisition, which is expected to be by mid-2022, the property will be leased back to EPSB for a fixed term of 10 years.

Subscribe now for a chance to win your dream holiday!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

SC Estate Builder signs agreement with three Firms for affordable housing in Kedah
Renewable energy use on the rise in China
Oil prices rise as US crude, fuel inventories seen shrinking
Maybank reassures systems remain secure amid alleged database leakage claims
BNP Paribas beats estimates as trading revenues jump
Asian stocks waver after tech earnings, yen at seven-week high
Deutsche Bank's profit streak ends with big lawsuit provision
Gross fixed capital formation recorded at RM314.8bil in 2023 - DoSM
SC urges consistent high-quality audits for public interest entities
Selling restarts on Bursa, FBM KLCI drops 7pts

Others Also Read