Axis REIT selling Cyberjaya office
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.