Axis-REIT also says the future of online shopping is bright

KUALA LUMPUR: Axis-REIT Managers Berhad (Axis-REIT), a real estate investment trust constituted by the Deed, is currently in negotiations to acquire five properties in the country and expects to close two of them this year. Axis-REIT currently has 29 properties in its portfolio, mainly in the industrial space.

Axis-REIT chief executive officer Stewart Labrooy said the trust will not intend to go into the retail segment as they are expecting shopping malls are not doing well in the future due to the younger generation is moving towards online shopping.

Author: Terry KS

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