We Are Prepared For 2022: Axis REIT

Axis-REIT Managers Bhd CEO Kit May Leong

Axis REIT Managers Bhd CEO Kit May Leong expects the industrial REIT to remain resilient, boosted with e-commerce consumer demand, and continued uptake of logistics spaces considering the current development of Malaysia’s REIT sector,

“We will remain cautious of the pandemic and continue to exercise prudent capital management to deliver sustainable value to our unitholders. The industrial REITs are expected to remain resilient, boosted by e-commerce consumer demand and continued uptake of logistics spaces.

“Pandemic will eventually evolve to become endemic as we brace through this challenging period. It has been almost 2 years and most REIT companies have adapted to the new norm and found new ways to run their businesses. 

“The re-opening of the economy will help businesses recover. The interstate travel ban has been lifted, footfalls in the shopping malls have increased substantially and many employees are back to the office. All these will benefit the REIT sector.

Kit May expects a brighter outlook next year for the industry but with the ever-changing variant, there can be unexpected turns for example the Delta Variant which prolongs the pandemic wave for 2021, Axis REIT to remain prepared for any challenges.

“We will continue to uphold our management principles to ensure unitholders’ interest is well protected, Proactive asset and tenant management, Prudent capital and risk management, Yield accretive asset purchases, Maintaining the highest level of corporate governance, development of human capital, and excellent investor relations.

“The pandemic will remain as the key challenge for us where the portfolio occupancy rate and the acquisition progress might be affected if the pandemic prolongs.

“96% of the leases that expired in 2019 have been taken up. I am thankful that, as of September 30, 2021, 87% of the leases expiring in 2021 have been taken up.

“We will continue to improve the take-up rate for our spaces that are expiring in 2021 and pursue our tenants for renewal of leases that will expire in 2022,” she says. 

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