Al-'Aqar Healthcare REIT
MMYX:ALAQAR1.16
MYR
-0.01
(-0.85%)
ISIN
MYL5116TO007
Return %
Stock
S&P 500
1Y
-7.94
14.20
3Y
-6.45
81.12
5Y
-4.92
68.34
Capital Structure
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Zulhilmy bin Kamaruddin
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- Petaling Jaya Malaysia
- IPO Date
- Jul 24, 2006
- Website
- alaqar.com.my
- Similar Companies
- Business
- Al-'Aqar Healthcare REIT is an Islamic real estate investment trust (REIT) based in Malaysia that specializes in investing in Shariah-compliant healthcare, medical, and wellness real estate assets. Established in 2006 and listed on the Main Market of Bursa Malaysia Securities Berhad, the Trust is managed by Damansara REIT Managers Sdn Berhad, an operating subsidiary of Johor Corporation, with KPJ Healthcare Berhad serving as its primary sponsor, major unitholder, and core tenant operator. The Trust is headquartered in Johor Bahru, Malaysia, with executive management offices in Kuala Lumpur, Malaysia. The Trust's property portfolio and operational solutions encompass three principal asset and service categories: Specialized Healthcare Real Estate, which includes purpose-built multi-disciplinary private specialist hospitals, day-care surgical centers, rehabilitation centers, and medical office suites operated primarily under the KPJ Healthcare network; Healthcare Educational Assets, consisting of dedicated higher education campuses, nursing academies, and academic facilities such as the KPJ Healthcare University campus in Nilai, Negeri Sembilan; and Strategic Asset Management and Leasing Services, offering long-term net-lease structures, build-to-suit medical infrastructure development, space planning, property maintenance, and customized capital expenditure programs designed for clinical facilities. The Trust's hospital property portfolio includes prominent medical centers such as KPJ Ampang Puteri Specialist Hospital, KPJ Damansara Specialist Hospital, KPJ Johor Specialist Hospital, KPJ Selangor Specialist Hospital, KPJ Tawakkal Specialist Hospital, KPJ Ipoh Specialist Hospital, KPJ Seremban Specialist Hospital, KPJ Perdana Specialist Hospital, and KPJ Penang Specialist Hospital. Geographically, the Trust focuses its operations across Peninsular Malaysia and East Malaysia, situated near major demographic and urban healthcare hubs, while maintaining selective international property exposure. Al-'Aqar Healthcare REIT structures its properties under long-term Islamic lease agreements, primarily triple-net leases that incorporate periodic rental step-ups to provide sustainable distribution yields to institutional and retail investors. In recent developments, Al-'Aqar Healthcare REIT has executed major strategic portfolio enhancements and capital optimization programs to align with growing private healthcare demand. The Trust has advanced asset enhancement initiatives (AEIs) across key specialist hospital facilities to facilitate bed capacity expansions, modern surgical suite integrations, and specialized ambulatory care additions in partnership with KPJ Healthcare Berhad. Concurrently, the Trust has pursued portfolio rationalization measures, including the strategic restructuring and divestment processes regarding non-core offshore aged-care assets, notably the Jeta Gardens facility in Queensland, Australia, to redeploy capital into high-yielding domestic healthcare assets. To support ongoing asset development and refinance existing obligations, the Trust has issued tranches of Islamic Medium-Term Notes under its Sukuk Ijarah programs and sustainability-linked financing frameworks, reinforcing its balance sheet flexibility and commitment to green-certified healthcare infrastructure.