Al-'Aqar Healthcare REIT (5116.KL)

Al-`Aqar Healthcare REIT (‘Al-`Aqar) is listed on the main market of Bursa Malaysia. From its humble beginnings with a portfolio of just six properties, Al-`Aqar has steadily evolved and transformed into a reputable player in the Malaysian REIT landscape. Today, it boasts an extensive portfolio of 23 properties strategically diversified across several key segments, with a notable focus on healthcare assets. The portfolio now comprises 17 hospitals, three wellness/ health centers, two colleges, and an aged care facility, underscoring Al-`Aqar's robust position in the healthcare real estate sector. This diverse mix of properties not only highlights the fund's adaptability but also its ability to cater to the growing demand for specialized healthcare and wellness services in Malaysia. Al-`Aqar's growth trajectory has been driven by the expertise and strong leadership of JLG REIT Managers Sdn Bhd (JRM) (formerly known as Damansara REIT Managers Sdn Berhad), which serves as the fund manager. JRM is a wholly owned subsidiary of Johor Corporation and is further supported by KPJ Healthcare Berhad (KPJ), both of which provide a solid foundation for Al-`Aqar's strategic direction and operational success. JRM's dedicated efforts in asset management, operational efficiency, and portfolio optimization have been instrumental in the fund's continued success and expansion. As of 31 December 2024, Al-`Aqar's portfolio is valued at RM1.65 billion, with a market capitalization of RM1.14 billion. Al-'Aqar Healthcare REIT was incorporated in 2006 in Malaysia.