KIP Real Estate Investment Trust (KLSE:KIPREIT) entered into agreement to acquire Industrial Properties in Pulau Indah Industrial Park, Port Klang from Teju Logistics Sdn Bhd for MYR 28 million on July 12, 2022. Deal will be finance through Existing banking facility and Proceeds to be raised from the Private Placement and/or bank borrowings. Pacific Trustees Berhad entered into agreement to acquire two more Industrial property. The transaction is subject to regulatory approval, consummation of private placement and third party approval. The Proposed Acquisitions expected to be completed in the second quarter of the calendar year 2023. As of October 26, 2022, KIP Real Estate on unitholder meeting, have obtained the unitholders' approval for the acquisition.
As on December 7, 2022, KIP REIT Management Sdn Bhd, the Manager of KIP REIT wishes to announce that all the conditions precedent set out in the sale and purchase agreements have been fulfilled.

KIP Real Estate Investment Trust (KLSE:KIPREIT) completed the acquisition of Industrial Properties in Pulau Indah Industrial Park, Port Klang from Teju Logistics Sdn Bhd on December 14, 2022.