AME REIT To Acquire RM50.2 Mln Johor Industrial Land In Maiden Third-party Deal

KUALA LUMPUR, July 23 (Bernama) -- AME Real Estate Investment Trust (AME REIT) is acquiring three parcels of vacant freehold industrial land measuring a combined 3.59 hectares at i-Park @ Senai Airport City, Johor, for RM50.2 million, marking its first third-party acquisition since its listing.

In a statement today, AME REIT said RHB Trustees Bhd, acting on its behalf, had entered into a sale and purchase agreement (SPA) for the proposed acquisition.

AME REIT, however, did not disclose the identity of the vendor from whom it is acquiring the land.

The transaction marks AME REIT's first third-party acquisition since its listing, following RM289.5 million in completed asset acquisitions from its sponsor, AME Elite Consortium Bhd.

“The investment deepens AME REIT’s presence in a strategic industrial hub, where i-Park@SAC properties already comprise 48.6 per cent of its portfolio by value.

“AME REIT’s expansion within the mature park leverages its established operational scale and deep market knowledge, with the new parcels situated alongside multinational manufacturing and logistics players,” it said. 

Chan Wai Leo, chief executive officer and executive director of I REIT Managers Sdn Bhd, the management company of AME REIT, said expanding the REIT's footprint in i-Park @ Senai Airport City would enable it to leverage its established expertise and execution capabilities to accelerate its expansion.

“This transaction also broadens our investment channels, strengthens our portfolio resilience, and reinforces our commitment to deliver sustainable earnings and long-term value to our unitholders,” he said. 

-- BERNAMA