Axis REIT to buy land for RM134m

AXIS Real Estate Investment Trust (REIT) is buying two parcels of land for RM134 million.

The leasehold land are in Telok Panglima Garang and Petaling Jaya in Selangor.

The REIT also plans to place out up to 69 million new shares or about 22.4 per cent of its existing units.

It also wants to increase its existing approved fund size from about 307.08 million units up to a maximum of 375.9 million units.

By Business Times