KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (AR-REIT) has acquired a single-storey detached factory in Teluk Panglima Garang, Selangor from Alpha Express Sdn Bhd for RM39mil.
The manager of AR-REIT, AmanahRaya Kenedix REIT Manager Sdn Bhd (AKRM), said AR-REIT had entered into two agreements under a sale and leaseback arrangement with Alpha Express for 10 years.
AKRM managing director Mohd Iskandar Dzulkarnain said the acquisition aligned with AR-REIT’s strategy to strengthen its industrial asset portfolio with income-generating properties.
“The asset acquisition benefits AR-REIT by expanding its existing portfolio, which previously included only one asset in this particular industry.
“This second asset strengthens our position in the sector and allows us to further grow our industrial asset sub-portfolio.
“In general, the collaboration supports industry players who meet our criteria to expand their businesses, he told Bernama at the AR-REIT Connect 2025 signing ceremony and stakeholders showcase here yesterday.
In addition to the signing ceremony, the event served as a platform to strengthen strategic partnerships, bringing together key stakeholders including Amanah Raya Bhd, HELP University, Alfa University College, Knight Frank, Anytime Fitness and IMT Tech. The total assets under AKRM’s management stand at RM1.3bil.
