Axis REIT to Buy Two More PJ Properties
Now this is interesting.
Axis REIT Managers Bhd, manager of the Axis Real Estate Investment Trust (Axis-REIT), is planning to buy two commercial and industrial properties in the golden triangle area of Petaling Jaya.
This was announced recently, the two properties are Kompleks Kemajuan for RM29mil and Keyangan Depot for RM16.1mil, which would expand its current net lettable area of 981,147 sq ft by 37%.
The Star reports:
As at June 1, the average occupancy rate of Axis-REIT’s five properties was about 99%.
For the nine months ended Sept 30, 2005, the property fund recorded unaudited net profit of RM3.6mil on the back of RM5.3mil revenue.
You can view the story here.
