KUALA LUMPUR, 26 August 2025 – JLG REIT Managers Sdn. Bhd., the Manager of Al-Salām Real Estate Investment Trust (“Al-Salām REIT”) and Al-Aqar Healthcare Real Estate Investment Trust (“Al-Aqar Healthcare REIT”), today announced the financial results for the second quarter ended 30 June 2025 (“Q2 2025”), underscoring the resilience and growth potential of both portfolios.
Al-Salām REIT delivered a strong quarter with revenue of RM22.1 million and Net Property Income (“NPI”) of RM14.6 million. For 1H 2025, revenue rose 10.3% year-on-year to RM43.5 million, translating into an 11.4% increase in NPI to RM29.5 million. KOMTAR JBCC emerged as the key growth driver, with Q2 retail revenue up 24.0% to RM13.0 million and NPI jumping 37.5% to RM7.2 million.
Al-`Aqar and Al-Salām REITs Signal Strength Ahead with Stable Rentals and Strategic Holdings
Meanwhile, the F&B segment maintained 100% occupancy across 41 outlets, generating RM4.4 million in revenue, while industrial assets contributed RM2.9 million. Menara KOMTAR showed early signs of recovery with improved leasing momentum. A DPU of 0.47 sen was declared in Q2 2025, bringing 1H 2025 DPU to 0.98 sen, more than doubling year-on-year.
Zulhilmy Bin Kamaruddin, Chief Executive Officer of Al-Salām REIT, said: “Our second quarter results reflect a balanced and disciplined portfolio strategy. KOMTAR JBCC’s transformation highlights the success of our asset enhancement initiatives in unlocking growth, while our F&B and industrial assets continue to provide steady, resilient cashflows. The improving momentum at Menara KOMTAR demonstrates the effectiveness of our leasing strategies in supporting recovery.”
Al-`Aqar Healthcare REIT sustained consistent performance with Q2 2025 revenue of RM28.8 million and NPI of RM25.4 million, up from RM25.0 million in Q1. For 1H 2025, NPI stood at RM50.4 million on revenue of RM58.0 million, backed by stable, long-term secured leases. The REIT declared a DPU of 1.73 sen in Q2 2025, bringing the 1H total to 3.47 sen. Upcoming contributions from Ampang Puteri and Penang hospital extension buildings are expected to enhance earnings from the next quarter.
Commenting on Al-`Aqar’s results, Zulhilmy added: “Our consistent performance reflects the strength of our long-term partnerships with KPJ and the visibility of secured lease arrangements, including the RM15 million annual rental from new hospital leases on extension buildings. With proactive asset management and upcoming contributions from new hospital extensions, we remain focused on delivering sustainable, long-term value to our unitholders.”
Together, the Q2 results highlight the resilience of both REITs, with growth from retail and portfolio optimisation in Al-Salām REIT, alongside stable secured cashflows and expansion opportunities in Al-`Aqar Healthcare REIT, reinforcing their commitment to sustainable unitholder value.
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