KIP REIT to acquire 4 industrial properties

KUALA LUMPUR: KIP Real Estate Investment Trust’s (KIP REIT) unitholders have approved the acquisition of four industrial properties valued at RM98.3 million in Selangor, Sarawak and Johor. The properties collectively offer a net lettable area of more than 650,000 sq ft. KIP REIT secured long-term master lease agreements for these four industrial properties, featuring rental increments every three years to ensure sustainable growth. These assets are expected to deliver rental yields ranging from 6.6 per cent to 7.6 per cent.