PETALING JAYA: Hektar Real Estate Investment Trust
(Hektar-REIT) is acquiring a 90% stake in Terramark Sdn Bhd from Wan Realty Sdn Bhd and Darul Modal Sdn Bhd for RM26mil to diversify its portfolio into the industrial and renewable energy sectors.
In a filing with Bursa Malaysia, Hektar-REIT said Terramark owns a 60-year piece of leasehold agricultural land in Perlis measuring approximately 197.76 acres that is intended for conversion to industrial land use.
“By acquiring a controlling stake in Terramark, which owns a substantial landbank in Chuping, Perlis, Hektar-REIT will expand its asset exposure beyond retail properties.
“This move not only strengthens the REIT’s presence in high-growth sectors but also strategically positions it to benefit from Malaysia’s renewable energy transition,” it said.
