MULTIPLE PROPOSALS AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT") (I) PROPOSED LEASE OF APPROXIMATELY 7.02 ACRES OF VACANT LAND IN SUBANG FORMING PART OF A FREEHOLD LAND (MASTER LAND) BY RHB TRUSTEES BERHAD FROM MALAYSIA AIRPORTS HOLDINGS BERHAD (PROJECT LAND); AND (II) PROPOSED DEVELOPMENT OF A SINGLE-STOREY MANUFACTURING PLANT CUM OFFICE BUILDING WITH A GROSS BUILT-UP AREA OF APPROXIMATELY 178,978.60 SQUARE FEET INCLUSIVE OF ANCILLARY BUILDINGS AND EXTERNAL ELEMENTS, TO BE CONSTRUCTED ON THE PROJECT LAND
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | MULTIPLE PROPOSALS |
| Description | AXIS REAL ESTATE INVESTMENT TRUST ("AXIS-REIT")
(I) PROPOSED LEASE OF APPROXIMATELY 7.02 ACRES OF VACANT LAND IN SUBANG FORMING PART OF A FREEHOLD LAND (MASTER LAND) BY RHB TRUSTEES BERHAD FROM MALAYSIA AIRPORTS HOLDINGS BERHAD (PROJECT LAND); AND
(II) PROPOSED DEVELOPMENT OF A SINGLE-STOREY MANUFACTURING PLANT CUM OFFICE BUILDING WITH A GROSS BUILT-UP AREA OF APPROXIMATELY 178,978.60 SQUARE FEET INCLUSIVE OF ANCILLARY BUILDINGS AND EXTERNAL ELEMENTS, TO BE CONSTRUCTED ON THE PROJECT LAND |
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On behalf of the Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, Maybank Investment Bank Berhad wishes to announce that Axis-REIT proposes to undertake the abovementioned proposals. In this regard, on 1 November 2017, RHB Trustees Berhad, the trustee of Axis-REIT, on behalf of Axis-REIT, has entered into the sub-lease agreement with Malaysia Airports Holdings Berhad for the Proposed Land Lease (as defined in Section 1.1(i) of the attachment). Please refer to the attachment for further details on the proposals. This announcement is dated 1 November 2017. |
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Please refer attachment below.
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 01 Nov 2017 |
| Category | General Announcement for PLC |
| Reference Number | GA1-01112017-00058 |
