top of page

Chester News | 新闻

Three prospective new industrial assets for newly-listed AME REIT in the next one year


REIT Managers Sdn Bhd, the management company of AME Real Estate Investment Trust (AME REIT), plans to expand the REIT's portfolio during the next 12 months by acquiring three industrial buildings in Johor.


The company has identified Plot 43 in i-Park @ Senai Airport City and Plots 15 and 16 in i-Park @ Indahpura, which have a combined gross floor space of 256,828 square feet and are situated in the industrial parks of AME REIT's sponsor, AME Elite Consortium Berhad.


In a statement released following the listing ceremony for AME REIT on the Main Market of Bursa Malaysia today, REIT Managers' chairman and executive director Simon Lee Sai Boon said that these assets could potentially bring the REIT's portfolio up to 37 investment properties by the third quarter of 2023.


According to Lee, each property is scheduled to have a set 10-year lease term, with Plots 43 and 15 expected to start in the third quarter of 2022 and Plot 16 in the third quarter of 2023.


He said for five years from today's listing, AME REIT holds the right of first refusal by AME Elite together with its subsidiary Ipark Development Sdn Bhd to acquire industrial properties and dormitories with leasing or tenancy agreements.


"We will also have first right to relevant assets which may be targeted for acquisition in future by AME Elite and its subsidiaries, subject to other criteria," he said.


Meanwhile, Lee said that the 34 industrial buildings and dormitories that makeup AME REIT's current portfolio were 100 per cent leased as of June 15, 2022, and July 15, 2022, respectively, with multinational businesses accounting for more than 90 per cent of the total net lettable area of leased industrial properties.


He also said that as an industrial REIT, AME REIT is well-positioned to profit from incoming global and local investments into Malaysia as they establish and/or grow their operations base in the nation.


"We are confident of achieving stable growth in the future," he said.


bottom of page