AmanahRaya-REIT aims to grow its assets to RM1.5 bil

KUALA LUMPUR: AmanahRaya-REIT Managers Sdn Bhd is to grow the asset size of the real estate investment trust (REIT) to RM1.5 billion in the next two years, from RM1.002 billion, at present.

The total assets put AmanahRaya-REIT in second place after Starhill REIT, said Chairman Tan Sri Ahmad Fuzi Abdul Razak.

Meanwhile, the company has embarked on an acquisition trail of commercial properties.

"We are currently in preliminary negotiations to acquire three to four assets, mainly office buildings and shopping centres," AmanahRaya's Chief Operating Officer Adenan Md Yusof said after a leasing signing ceremony with Kontena Nasional Bhd here on Friday, May 21.

He said Amanah-REIT, which has been accorded a global investable grade rating of "BBB-", hoped to conclude some deals by mid-2011.

"AmanahRaya REIT will continue to scout for properties in good locations in order to give the best returns to unit holders," he said.-- Bernama