Axis REIT Expects to Post 7% Net Yield for FY19
Axis Real Estate Investment Trust ( Axis-REIT) is expected to bag a decent seven per cent net yield for the financial year ending Dec 31, 2019 (FY19), should seven acquisitions at a cost of nearly RM250 million be completed in the second half of the year, as scheduled.
The acquisitions are two manufacturing facilities costing RM55.8 million in Nusajaya, two manufacturing facilities of RM55.8 million in Shah Alam, a manufacturing facility in Kota Kinabalu (RM66 million), a manufacturing facility in Nilai (RM50 million) and an RM20.5 million property in Bayan Lepas.
Axis-Reit Managers Bhd Chief Executive Officer and Executive Director Leong Kit May said once the seven acquisitions are completed by year-end, it will bring the total assets under management to RM3.2 billion from the current RM2.9 billion.
"But, every year, revaluation would be done at year-end. So, any revaluation adjustments would be captured in Q4 2019,” she told a media briefing on 25 July 2019. Axis-Reit Managers Bhd is the manager of Axis-REIT.