New acquisitions to support Axis-REIT earnings

The fund has targeted to acquire RM120mil worth of new assets

PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is on track to see earnings recovery for the financial year ending Dec 31, 2022 (FY22) backed by improving economic prospects and new acquisitions.

The fund has targeted to acquire RM120mil worth of new assets, focused primarily on grade A logistics and manufacturing facilities with long leases from tenants with strong covenants as well as well-located retail warehousing in locations ideal for last-mile distribution.