KUALA LUMPUR, March 6 (Bernama) — Since its listing in September 2015, Al-Salām Real Estate Investment Trust (“Al-Salām”) has grown the size of its portfolio from RM903 million to around RM1.2 billion via the acquisition of Mydin Hypermarket Gong Badak and an additional 17 QSR properties, based on triple net lease arrangement, in August 2018 and March 2019 respectively. To date, Al-Salām’s triple net lease assets, secured via long term lease contracts for the 44 QSR properties and Mydin Hypermarket Gong Badak are the major contributors to its net property income.
Going forward, Al-Salām has the potential to further expand its property portfolio through more acquisitions and tapping into its major unitholder, Johor Corporation’s (JCorp) vast selection of prime assets, especially the industrial estate assets.