AL-'AQAR KPJ REIT MIDDLE EAST MART

KUALA LUMPUR, Feb 13 (Bernama) -- KPJ Healthcare Bhd's Al-'Aqar KPJ REIT,
the world's first listed Islamic real estate investment trust (REIT), aims to
penetrate the Middle East market via the syndicated Ijarah facility of up to
RM250 million (US$69.4) it has secured.

Al-'Aqar KPJ REIT is managed by Damansara REIT Managers Sdn Bhd.

Damansara REIT Managers director, Siti Sadiah Sheikh Bakir, said the
facility was syariah-compliant by Kuwait Finance House's, Gulf Cooperation
Council's and Malaysian standards.

"With these standards in place, it will become a stepping stone for Al-'Aqar
to penetrate the Middle East market," she told reporters after the signing
ceremony of the facility here.

The facility would provide Ijarah Muntahiah Bitamlik Financing Facilities
for Al-'Aqar's third acquisition exercise, where it would acquire nine assets to
be partly satisfied by RM250 million in cash and through the issuance of new
units at 95 sen per unit.

Sadiah said for the fourth acquisition, they were looking at acquiring
foreign assets which they had yet to clinch any so far.

With the latest acquisition, Al-'Aqar would increase the number of assets it
held to 20 from 11, resulting in its real estate portfolio crossing the RM1
billion mark from RM651.5 million early this year. (US$1=RM3.60)

The acquisitions, which are expected to be completed by the first half of
this year, comprise seven healthcare assets -- Seremban Specialist Hospital,
Taiping Medical Centre, Kota Kinabalu Specialist Hospital, Bukit Mertajam
Specialist Hospital, the KPJ Tawakal Specialist Hospital New Building, the KPJ
Penang Specialist Hospital and the PNC International College of Nursing and
Health in Nilai.

The other two properties are Hotel Selesa and Metropolis Tower in Johor
Baru.

Sadiah said Al-'Aqar would make a final dividend of 4.1 sen per unit, making
bringing its total to 8.7 percent.
-- BERNAMA