Axis REIT Johor acquisitions seen only as ‘mildly positive’ by Maybank


Axis REIT’s proposed acquisition of two freehold properties in the state of Johor has largely failed to excite the market, even as Maybank called the purchase a “mildly positive” move.

Axis REIT announced on 7 June that it will be acquiring the two assets in the province of Kulai for a total lump sum cash consideration MYR38.7 million (USD9.7 million).

Both properties are located in the Kulai industrial area, and collective feature net lettable area of approximately 165,000 square feet.

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