Axis Real Estate Investment Trust (KLSE:AXREIT) entered into a sale and purchase agreement to acquire A two-storey shopping mall from Amal Mewah Development Sdn. Bhd. for MYR 25.8 million on December 8, 2023.

The Proposed Acquisition of the Property will be funded by existing bank financing of AxisREIT. The Property is to be acquired free from encumbrances but subject to the terms and conditions stipulated in the SPA. The transaction is expected to be completed by the first quarter of year 2024.