Malaysian office and industrial landlord, Axis REIT, has announced that its intention to list up to 92 million new units has been approved by the Malaysian authorities.

Axis REIT is Malaysian first listed Islamic REIT. Photo: Axis REIT

Axis REIT has indicated in previous announcements that it intends to issue up to 2 million new units for the purpose of the payment of management fee to Axis REIT Managers Berhad in the form of new units. A further issue of up to 90,762,819 new units, representing up to 19.88% of the existing fund size of Axis REIT, will be used to fund the acquisition of a property known as the Wisma Academy and its annex.

Axis REIT is Malaysia's first Islamic REIT with properties predominantly in the commercial and industrial sector.