Axis Real Estate Investment Trust (KLSE:AXREIT) entered into sale and purchase agreement for An Industrial Facility located within Kawasan Perindustrian i-Park from AXIS AME IP Sdn Bhd for MYR 16.3 million on February 22, 2022. It consists of a single-storey detached factory with an annexed double-storey office building and ancillary building. The total lettable area is 60k sq ft.The property is currently 100% tenanted by HQPack Sdn Bhd. The consideration is payable in cash. The Proposed Acquisition of the Property will be funded by existing bank financing of AxisREIT. The Proposed Acquisition of the Property is expected to be completed by the first half of the year
2022.