News

AmanahRaya REIT Welcomes ALFA University College As A Long-Term Tenant

AmanahRaya Real Estate Investment Trust (“AmanahRaya REIT”) today announced that its Trustee, Pacific Trustees Berhad, has signed a long-term tenancy agreement with ALFA International College Sdn Bhd (“ALFA”) for its property in Subang Jaya, Selangor.

The signing with ALFA coincides with the expiry of the tenancy agreement with Segi College on 28 February 2024. This marks another milestone of achievement for AmanarahRaya REIT in partnering with a renowned institution with an outstanding art programme that ranked amongst Malaysia’s preferred education institutions.

The tenancy agreement with ALFA spans a lease term of 18 years on a triple net lease arrangement. The college is expected to begin operations by the fourth quarter of the year.

The property is located within the vibrant commercial business districts of Subang Jaya in USJ1,approximately 15 kilometers southwest of Kuala Lumpur’s city centre. It boasts a 12-storey purpose-built building fitted for educational purposes, held under a freehold tenure.

Property Key Data
Land Area 51,957 sq.ft.
Net Lettable Area 131,387 sq.ft.

YM Tunku Rozita, Managing Director of AmanahRaya REIT, said, ‘we are thrilled to welcome ALFA as our new long-term tenant. Their reputation for delivering quality education aligns perfectly with our vision for this property. We look forward to a fruitful partnership with ALFA and are confident that their presence will contribute significantly to the success of this property.

The partnership with ALFA represents a significant step towards enhancing AmanahRaya REIT’s net property income. The property is expected to generate a consistent income stream with positive rent reversion every 3 years, which will benefit the Unitholders.

YM Tunku Rozita added, ‘we wish to continue to retain the asset being an educational base and at the same time exercising asset re-allocation strategy to improve our Distribution Per Unit (DPU) and share price,respectively.’

To date, AmanahRaya REIT oversees a portfolio encompassing 11 properties nationwide,covering educational, office, industrial, retail, hospitality and wellness sectors.

Adib Mohd

Recent Posts

TV Sarawak Is Leveling Up, From Kuching to the World with Spotlight 25/26

Since its debut in 2020, TV Sarawak (TVS) has been rewriting what it means to… Read More

1 day ago

Skechers Steps Up the Game with New Basketball Collection

Skechers, The Comfort Technology Company™ and a global leader in lifestyle and performance footwear, has… Read More

1 day ago

LexisNexis Brings AI Legal Sidekick to Malaysia with Protégé

Move over Suits, the future of law just got an AI upgrade. LexisNexis has officially… Read More

1 day ago

BJAK Turns Insurance Renewals into Rewards with RM100,000 Mega Giveaway This 10.10

Renewing insurance and road tax is often a last-minute hassle, but BJAK, Malaysia’s largest online… Read More

1 day ago

SHANTEA Dessert Opens First Outlet at Mid Valley, Serving Malaysian Culture Through Sweet Creations Ahead of Visit Malaysia 2026

Malaysian flavors stepped into the spotlight today as SHANTEA Dessert officially opened its first outlet… Read More

1 day ago

Energea Powers Up Malaysia with Bold Tangerine Collection and Next-Gen Hybrid-Solid State Powerbank

Energea, the lifestyle-driven power solutions and tech accessories brand, has officially introduced two groundbreaking innovations:… Read More

1 day ago

This website uses cookies.