Hektar REIT Acquires RM30 Million Industrial Asset in Penang
Hektar REIT has completed its acquisition of a light industrial property for RM30 million in Penang's Bayan Lepas Free Industrial Zone. This strategic move diversifies Hektar's portfolio, enhancing exposure to the semiconductor sector and supporting sustainable income through a long-term lease structure.
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Hektar REIT finalized the acquisition of a light industrial property in Penang for RM30 million, marking its first venture into the industrial sector. The acquisition price is 9.1% below the market value, with an expected initial yield of 7.5% under a 15-year triple net lease agreement.
This move expands Hektar's portfolio to eight properties, including shopping malls and a private school, and is a key step in diversifying its asset base beyond retail. The property features advanced infrastructure suitable for semiconductor manufacturing, positioned in a recognized manufacturing hub. Hektar REIT aims to capitalize on high-demand markets, reinforcing its strategy to build a resilient portfolio that can generate sustainable returns.
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