KUALA LUMPUR, July 26 ― Axis Real Estate Investment Trust is expected to bag a decent seven per cent net yield from seven acquisitions at a cost of nearly RM250 million, anticipated to be completed in the second half of the financial year ending December 31, 2019 .
Axis REIT Managers Bhd chief executive officer and executive director Leong Kit May said once the seven acquisitions were completed by year-end, it would bring the total assets under management to RM3.2 billion from the current of RM2.9 billion. “Our gearing stands at 38 per cent currently, which is quite healthy from the 50 per cent threshold set by the Securities Commission Malaysia,” she said, adding that the completion of the acquisitions would also improve the trust’s properties portfolio to 52 for FY19 from the current 45.
Moving forward, Leong said Malaysia’s real estate outlook remained resilient, particularly the industrial space due to the ongoing US-China trade war which had boosted the demand for the segment.