KUALA LUMPUR: Axis Real Estate Investment Trust
(Axis REIT) has proposed to acquire a corner industrial complex on a tract of leasehold land in Shah Alam, Selangor, from Rubicon Assets Sdn Bhd for RM38mil cash.
The complex comprises a single storey detached factory integrated with a double-storey office block and a four-storey factory/store block, together with ancillary buildings on a 3.03-acre industrial land.
According to a statement by Axis REIT, the property has a total net lettable area of approximately 120,177 square feet. It is fully occupied and upon completion of the acquisition, the property will continue to be tenanted, generating a combined monthly rental income of RM210,476.75.
The proposed acquisition will be funded through existing bank facilities and is expected to increase Axis-REIT’s financing ratio to approximately 32.84% of audited total assets as at Dec 31, 2025.
The acquisition is targeted for the second half of 2026.
"This proposed acquisition further reinforces Axis-REIT’s presence within Shah Alam, one of Klang Valley’s most established and sought-after industrial corridors. The property enjoys excellent connectivity to major highways, including Federal Highway and North Klang Valley Expressway, providing high accessibility and operational efficiency for tenants," said Axis REIT Managers Bhd CEO and executive director Leong Kit May.
