Capitaland Malaysia Trust (CLMT) has acquired Elmina Logistics Hub, a freehold automated logistics property from PTT Logistics Hub for RM180m (€38m).
The property is located in an industrial and business park in Selangor and is due to be completed in the first half of next year.
Tan Choon Siang, CEO of Capitaland Malaysia Reit Management, said the acquisition of the trust’s first modern automated logistics property enabled the trust to capitalise on the growing demand for such assets.
“CLMT’s strategic move addresses the current market gap in automated warehouses, providing us with the opportunity to scale in this specialised segment.”
The addition of Elmina Logistics Hub will expand CLMT’s portfolio to 11 properties, increasing the portfolio of new economy assets from 3% to 6% of its total portfolio by assets under management.
As of 30 September 2024, the listed trust has a total asset value of around RM5.2bn, and a market capitalisation of about RM2bn.
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