Hektar Real Estate Investment Trust announced that it has completed the acquisition of its first industrial property in the Bayan Lepas Free Industrial Zone, Penang.
The acquisition, transacted at RM30 million represents a discount of 9.1% to the property’s independently assessed market value while delivering an initial yield of 7.5% on a triple net lease basis, with all property-related outgoings including taxes, insurance, and maintenance borne by the tenant. This structure provides Hektar REIT with direct, passive income over the full lease term with minimal operational burden.
In addition, the 15-year long-term lease agreement provides a stable income stream for Hektar REIT with fixed rental escalation that reflects the strong demand for specialized industrial space.
The Bayan Lepas Free Industrial Zone has long been recognised as a cornerstone of Asia’s electronics and semiconductor manufacturing ecosystem, earning its reputation as the “Silicon Valley of the East.” The Zone continues to attract leading global semiconductor companies, anchored by a world-class ecosystem of skilled talent, research institutions, logistics infrastructure, and established supply chain networks.
