Axis REIT Managers Bhd chief executive officer Leong Kit May.
PETALING JAYA: Axis Real Estate Investment Trust
(Axis-REIT) is proposing to acquire a plot of leasehold industrial land measuring nine acres in Bandar Sultan Suleiman, Selangor from Barry Callebaut Malaysia Sdn Bhd for RM50mil.
In a filing with Bursa Malaysia, the company said the acquisition consists of a single-storey detached factory with double-storey office block annexed, a standalone double-storey office/canteen block and other ancillary buildings; as well as a single-storey detached warehouse with a double-storey office block annexed together with ancillary buildings.
Axis-REIT said the acquisition is in line with its investment objectives and growth strategy to provide unitholders with stable income distribution and to achieve growth in the net asset value per unit, by acquiring high quality, earnings accretive properties with strong recurring rental income.
“Given the strategic location of the property which is located in the established industrial area of Kawasan Industri Bandar Sultan Suleiman, Pelabuhan Klang, the manager expects the property to be accretive to Axis-REIT’s distributable income upon the commencement of the rental or lease to the property.
“It will also add to the portfolio of properties that will benefit the fund in the long term.”
Axis REIT Managers Bhd chief executive officer/executive director Leong Kit May said: “This acquisition highlights our strategy to acquire properties that are within prime locations served by key amenities like highways and container ports, of which Port Klang has been recognised as the 10th busiest container port in the world in a press release issued by the Transport Ministry on Sept 1, 2025.
“The property is also designated for light to heavy industrial usage, which increases the flexibility of the property and allows Axis-REIT to cater for a wider array of tenants.”
