Malaysia’s Axis to launch 3 bln rgt Islamic REIT-sources

(Reuters) – Malaysian REIT manager Axis REIT Management Sdn Bhd is set to list the world’s largest Islamic real estate investment trust valued at over 3 billion ringgit ($988 million), three sources with direct knowledge of the deal said on Friday.

Axis REIT Management, which also manages Axis REIT , is now conducting book building for the Axis Global Industrial REIT, said the sources who asked not to be identified as they are not authorised to speak to the media.

The REIT will manage 33 properties located in three Asian countries including Australia and Hong Kong. Some of the assets were bought and leased back from Australia’s Goodman Group .

Axis REIT’s chief executive officer Stewart LaBrooy declined to comment on the deal when contacted by Reuters. The deal’s principal adviser is Malaysia’s CIMB . ($1 = 3.035 Malaysian Ringgit)  (Reporting by Min Hun Fong; editing by Liau Y-Sing)