Axis REIT sell­ing Cy­ber­jaya of­fice

The Sun (Malaysia) - - SUNBIZ -

PE­TAL­ING JAYA: Axis Real Es­tate In­vest­ment Trust (Axis REIT) is dis­pos­ing of its four-storey of­fice build­ing Axis Eu­reka in Cy­ber­jaya for RM56.13 mil­lion.

In a fil­ing with the stock ex­change, it said it has max­imised the in­come gen­er­at­ing po­ten­tial of this as­set in the past five years.

“The man­ager feels that there is lim­ited up­side for fu­ture rental growth and given the favourable mar­ket price for this as­set sale, it is an op­por­tune time for the dis­posal,” it ex­plained.

Axis REIT ex­pects the net gain on dis­posal of about RM1.2 mil­lion to con­trib­ute pos­i­tively to the fund’s earn­ings upon com­ple­tion.

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