KUALA LUMPUR, September 2 – AmanahRaya Real Estate Investment Trust (“AmanahRaya REIT”) has announced the strategic acquisition of a private education asset in Glenmarie, Shah Alam, Selangor, for RM31.4 million. The property, currently leased to Tinta Pendidikan Sdn. Bhd. (“TPSB”) on a 15-year triple net lease, is expected to enhance AmanahRaya REIT’s portfolio by securing a stable income stream with an initial net yield of 6%, bolstered by scheduled rent revisions. Located in a prime commercial area with excellent connectivity, the acquisition aligns with the Trust’s strategy to invest in high-quality, income-generating assets.
YM Tunku Rozita Binti Tunku Abdul Malek, Managing Director of AmanahRaya Kenedix REIT Manager Sdn. Bhd., expressed confidence in the acquisition, highlighting its potential to strengthen the Trust’s earnings and positively impact financial performance. This acquisition, funded through existing bank financing and internal funds, is AmanahRaya REIT’s first since 2018 and is expected to be completed by the first quarter of 2025, contributing positively to the Trust’s earnings from 2025 onwards.
