CapitaLand Malaysia Trust expands in Johor with $21.97m acquisition

The group will acquire three freehold industrial properties.

CapitaLand Malaysia Trust (CLMT) has signed an agreement to acquire three freehold industrial properties from Rainbow Entity Sdn. Bhd., a subsidiary of Gromutual Berhad which is listed on Bursa Malaysia, for $21.97m (RM72m).

The properties are located within Senai Airport City (SAC), a modern industrial and manufacturing hub in the Senai region within the Johor-Singapore Special Economic Zone (Johor-Singapore SEZ). The purchase consideration is at a discount to the independent market valuation of $22.13m (RM72.5m) commissioned by MTrustee Berhad (the Trustee for CLMT).

The construction of the properties is scheduled to be completed in the first quarter of 2025. CLMT will also enter into a long-term lease agreement of seven years with a tenant for one of the three properties. The lease comes with built-in rent escalations and is expected to provide income stability to CLMT’s portfolio. The tenant is listed on the Shanghai Stock Exchange STAR Market and is in the life sciences industry.

The three properties are projected to generate an annual gross rent of $ 1.56 (RM5.1m), with a first-year gross yield of approximately 7.1%.

Follow the link s for more news on

CapitaLand

Acquisitions

commercial property

Also Read

Singapore tops region with 79% of Grade A offices green-rated

TEC expands portfolio with new office at Ocean Financial Centre

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit