PETALING JAYA: AME Real Estate Investment Trust (AME REIT) is acquiring three parcels of vacant freehold industrial land in i-Park @ Senai Airport City (i-Park@SAC), Johor.
AME REIT signed a sale and purchase agreement via RHB Trustees Bhd to acquire a combined 8.87 acres of land for RM50.2 million.
The transaction marks AME REIT’s first third-party acquisition since listing, following RM289.5 million in completed asset purchases from its sponsor, AME Elite Consortium Bhd.
The investment deepens AME REIT’s presence in a strategic industrial hub, where i-Park@SAC properties already comprise 48.6% of its portfolio by value.
The REIT’s expansion within the mature park leverages its established operational scale and deep market knowledge, with the new parcels situated alongside multinational manufacturing and logistics players.
Diversifying its acquisition approach beyond ready-leased assets, AME REIT will undertake a build-to-lease strategy for three detached industrial facilities.
The versatile spaces offer the flexibility to customise layouts to specific tenant requirements, while existing on-site infrastructure ensures accelerated speed-to-market.
I REIT Managers Sdn Bhd CEO and executive director Chan Wai Leo said the acquisition is a significant milestone, representing the company’s first third-party transaction and maiden build-to-lease initiative since crossing the RM1 billion asset mark.
“This strategy enables us to proactively create the type of industrial assets increasingly sought by the market, rather than competing for completed assets in an environment where acquisition yields remain compressed. Expanding our footprint in i-Park@SAC enables us to leverage our established expertise and execution capabilities to accelerate our expansion.
“With investments in the JS-SEZ driving demand for premier industrial space, securing this prime freehold location allows us to capture these opportunities. This transaction also broadens our investment channels, strengthens our portfolio resilience, and reinforces our commitment to deliver sustainable earnings and long-term value to our unitholders.”
The RM50.2 million acquisition represents a 5.2% discount to the market value appraised by an independent valuer.
Upon fulfilling agreed conditions, AME REIT is entitled to a vendor rebate, which will lower the REIT’s effective acquisition cost.
Funding for both the acquisition and subsequent facility build-out will be sourced via a combination of Islamic financing facilities and internally generated funds, with the proposed transaction targeted to conclude by the fourth quarter of 2026.
