The company also foresees a pick-up in transactions before the home-ownership campaign (HOC) ends on Dec 31, 2021, supported by the current low interest environment and its online sales capability.
The placement is expected to raise up to RM19.89 million to fund the upgrading works of Persoft Tower.
The acquisition of the 9.79-acre land is to further expand Gromutual’s business in the development of ready built industrial facilities.
The private placement will involve 31.5 million shares or 10% of Samaiden's total number of issued shares.
Axis REIT said the proposed acquisition of the property from Venice Tulip Sdn Bhd would enable the REIT to strengthen its portfolio of industrial properties.
The group said its 4QFY21 results were driven largely by the property development segment which contributed revenue of RM52.49 million and profit before tax of RM8.56 million.
Quarterly gross revenue fell 30.5% to RM48.68 million against RM70.05 million a year ago.
The project comprises a total of 155 double-storey terrace houses, one single-chamber TNB sub-station, two double-chamber TNB sub-stations and one main switch station.