KUALA LUMPUR, Axis Real Estate Investment Trust (Axis-REIT), via its trustee RHB Trustees Bhd, has signed a sale and purchase agreement to acquire an industrial property in Port Klang from Barry Callebaut Malaysia Sdn Bhd for RM50 million.
In a statement, Axis-REIT said the asset is located within the Bandar Sultan Suleiman Industrial Zone and consists of a 3.64-hectare leasehold industrial land parcel. The acquisition, to be financed through existing bank facilities, is slated for completion in the first quarter of 2026. Following the transaction, Axis-REIT’s financing ratio is projected to rise to 33.92% of audited total assets as at Dec 31, 2024.
Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May said the purchase aligns with the trust’s strategy of acquiring assets in prime industrial locations.
“The property’s designation for both light and heavy industrial use offers greater flexibility and broadens our ability to serve a wider tenant base,” she noted.
