PROPERTY DIVISION

Damansara REIT Managers Sdn. Berhad

PROPERTY DIVISION | Damansara REIT Managers Sdn. Berhad

Damansara REIT Managers Sdn. Berhad (DRMSB) is a Malaysian-based company focused on the management of public listed real estate investment trusts (REIT). As part of DRMSB's role to stimulate growth within JCorp, DRMSB was incorporated in 2005 and has since been earmarked as the important component in the real estate division of JCorp.

DRMSB is the only REIT manager in Malaysia managing two (2) Islamic REITs, namely Al-`Aqar Healthcare REIT and Al-Salām REIT.

Al-`Aqar Healthcare REIT, which was listed on the Main Board of Bursa Malaysia on 10 August 2006, focuses on healthcare-related assets. Al-`Aqar Healthcare REIT was established with an initial portfolio of 6 assets and has since grown to 23 assets comprising of 19 hospitals and 4 healthcare related properties spanning across Malaysia and Australia. As at 31 December 2017, Al-`Aqar’s property value stood at RM1.46 billion with a market capitalisation of RM1.04 billion.

Al-Salām REIT was established early 2015 and focuses on Syariah-compliant diversified assets, including, but not limited to, commercial retail, office, and industrial assets. Al-Salām REIT was listed on 29 September 2015 on the Main Market of Bursa Malaysia. Al-Salām REIT is a diversified Islamic REIT in Malaysia with assets strategically located in Johor Bahru as well as in major city throughout Malaysia. Al-Salām REIT was listed on the Main Board of Bursa Malaysia Securities Berhad on 29 September 2015. As at 31 December 2017, Al-Salām REIT’s total assets value stood at RM988.8 million with a market capitalisation of RM580 million. 

The principal activity of the trust is to invest in Shariah-compliant properties. The Fund’s segments include Retail, Office, Food and Beverage (F&B), which consist of restaurant and non-restaurant outlets. The Fund’s property portfolio includes KOMTAR JBCC, Menara KOMTAR, @Mart Kempas, 22 KFC and Pizza Hut Restaurant outlets, 5 non-restaurant properties and a College building. The Fund is managed by DRMSB which is also a Capital Markets Services License holder, authorised to carry out fund management activities in relation to REIT.