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Hektar REIT expands into industrial and green energy with RM26mil Terramark deal

The Star·06/24/2025 10:08:00
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PETALING JAYA: Hektar Real Estate Investment Trust (Hektar REIT) is acquiring a 90% stake in Terramark Sdn Bhd from Wan Realty Sdn Bhd and Darul Modal Sdn Bhd for RM26mil to diversify its portfolio into the industrial and renewable energy sectors.

In a filing with Bursa Malaysia, Hektar REIT said Terramark owns a 60-year piece of leasehold agricultural land in Perlis measuring approximately 197.76 acres that is intended for conversion to industrial land use.

“By acquiring a controlling stake in Terramark, which owns a substantial landbank in Chuping, Perlis, Hektar REIT will expand its asset exposure beyond retail properties.

“This move not only strengthens the REIT’s presence in high-growth sectors but also strategically positions it to benefit from Malaysia’s renewable energy transition through the potential development of a solar farm on the acquired property.”

Hektar REIT said the land is a former sugarcane plantation area undergoing transformation into an industrial and renewable energy hub.

“It is well connected, being only 8.8 km from Jalan Kangar–Padang Besar and 10.9 km from the Changlun–Kuala Perlis Expressway.”