MALAYSIA: KPJ Healthcare is injecting new extension blocks for its flagship Ampang Puteri hospital plus that for Penang specialist hospital into Al-`Aqar Healthcare REIT. The transaction comes with leaseback deals of 11 years and 15 years respectively for these hospitals, together with 15-year optional extensions. The deal worth RM241 million (US$54.38 million) will raise total specialist healthcare facilities in Al-`Aqar Healthcare REIT to 26. Laying claim to be the world’s first Islamic REIT, all rental income for Al-`Aqar Healthcare REIT and guided by the 20% benchmark as determined by the Security Commission of Malaysia for the criteria on rental from non-permissible activities.
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