Axis REIT Managers Bhd chief executive officer Leong Kit May
KUALA LUMPUR: Axis Real Estate Investment Trust’s (Axis REIT) net trust income fell to RM37.77 million in the third quarter ended Sept 30, 2024, from RM42.50 million in the same period a year earlier, influenced by a RM4.7 million unrealised fair value loss on derivatives.
Total trust revenue for the quarter, however, jumped to RM80.27 million from RM71.81 million year-on-year, attributable to newly acquired properties, post-development contribution from new tenancies from Bukit Raja Distribution Centre 2 and phase two of Axis Mega Distribution Centre.
Axis REIT Managers Bhd chief executive officer Leong Kit May expects Axis-REIT’s income to be further enhanced in the coming quarters ahead with the recent completion of the acquisitions of Axis Facility 3 @ Bukit Raja and Axis Facility 1 @ Pulau Indah, both fully occupied as of October 2024, we expect to further enhance Axis-REIT’s income in the quarters ahead.
"With 69 properties strategically located across Malaysia, we are confident in sustaining our growth, supported by strong recurring rental income and active portfolio management,” she said in a statement today.
