KUALA LUMPUR, March 5 — Axis Real Estate Investment Trust’s trustee, RHB Trustees Bhd, has entered into a sale and purchase agreement with FIW Steel Sdn Bhd to acquire a freehold property located within the Bukit Raja Selatan Industrial Area in Shah Alam for RM120 million.
“This property is also situated directly across Axis-REIT’s Bukit Raja Distribution Centre. The current lettable area of the property only represents 36 per cent of the total land area and we are of the view that the property has a good redevelopment potential for a warehouse, after taking into consideration, amongst others, the location of the property and the increasing demand for warehousing within the Klang Valley,” he said.
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