Proceeds from the debt notes to be issued under the programme will finance the REIT’s investment activities, refinance maturing sukuk wakalah under the programme, and fund requisite deposit in a sukuk trustee reimbursement account.
Last Thursday (Sept 4), the trust said it was buying the property, comprising a factory, warehouse and office, with a combined gross floor area of 240,600 sq ft in the Bandar Sultan Suleiman industrial area.
The property comprises 3.
The commercial segment, via IGB Commercial REIT, saw revenue expand 14.
Quarterly net rental income rose 3.
The notable improvement was supported by stronger performance in the property development segment and the Group’s strategic expansion into the hospitality & leisure segment.
If the disposal of Wisma Sentral Inai goes through, the real estate investment trust will see its overall occupancy rate rise to 94% from 85%, while improving its yield, according to analysts’ estimates, as the loss-making property has been vacant for more than three years now.
Axis REIT said proceeds from the sukuk issuance will be used to finance capital and development expenditure, working capital, general corporate purposes and to refinance existing or future Islamic financing.
The EPF first emerged as a substantial shareholder in KIP REIT after acquiring a 6.
Revenue for the quarter was down by 2.
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