AmanahRaya REIT buys Selangor industrial property for RM39m
AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) is acquiring a 132,700 sq ft industrial building in Telok Panglima Garang, Selangor, for RM39 million from Alpha Express Sdn Bhd.
The property will be leased back to the seller under a 10-year triple net lease at RM195,000 per month, with rental revision clauses for renewal terms.
The acquisition is expected to enhance the REIT's distributable income and strengthen its long-term property portfolio.
AmanahRaya REIT, 45.6%-owned by the Minister of Finance Inc via Amanah Raya Bhd, will fund the deal via bank borrowings.
The deal is expected to be completed by the fourth quarter of 2025.
Shares in AmanahRaya REIT closed up 1 sen or 2.67% at 38.5 sen today, giving it a market capitalisation of RM220.7 million. –TMR
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