Al-'Aqar Healthcare REIT

Al-‘Aqar Healthcare REIT is a Malaysian-based real estate and investment trust, established on 28 June 2006 pursuant to the execution of a Trust Deed dated 27 June 2006 between the Manager (“DRMSB”), and the Trustee (“AmanahRaya Trustees Berhad”). It was listed on the Main Board of Bursa Malaysia on 10 August 2006. Al-‘Aqar Healthcare REIT was initially formed to own and invest in Syariah acceptable properties which comprise of KPJ Ampang Puteri Specialist Hospital Building, KPJ Damansara Specialist Hospital Building, KPJ Johor Specialist Hospital Building, KPJ Ipoh Specialist Hospital Building, Puteri Specialist Hospital Building and KPJ Selangor Specialist Hospital Building (collectively the “Properties”).

 

Second acquisition in year 2008 inclusive of KPJ Perdana Specialist Hospital Building, Kuantan Specialist Hospital Building, Sentosa Medical Centre Building, KPJ Kajang Specialist Hospital and Kedah Medical Centre Building.

 

Third acquisition completed in 2010 consists of KPJ Seremban Specialist Hospital Building, Taiping Medical Centre Building, Damai Specialist Hospital Building, Bukit Mertajam Specialist Hospital Building, Tawakal Existing Building and KPJ Penang Specialist Hospital Building. Two additional properties are not hospital-related but are complementary to the health tourism industry, namely Selesa Tower and KPJ International College.

 

At the Extraordinary General Meeting dated 17 December 2010, the unitholders of Al-‘Aqar Healthcare REIT approved on the proposed acquisition of Bandar Baru Klang Specialist Hospital Building, Kluang Utama Specialist Hospital Building and two (2) hospital building in Indonesia namely Rumah Sakit Medika Permata Hijau and Rumah Sakit Bumi Serpong Damai located in Jakarta. Both acquisitions of property in Indonesia has been acquired by a Special Purpose Companies i.e. Crossborder Aim (M) Sdn Bhd and Crossborder Hall (M) Sdn Bhd. The 4th acquisition exercise was completed in year 2012. 

Another significant acquisition exercise for Al-‘Aqar that took place on 19 August 2011 via proposed acquisition of Jeta Gardens Aged Care Facility and Jeta Gardens Retirement Village from Jeta Gardens Waterford Trust via Al-‘Aqar Australia Pty Ltd as the Special Purpose Company.  Together with the agenda of proposed acquisition of Jeta Garden, the unitholders of Al-‘Aqar in the Extraordinary General Meeting approved the change of name of the fund from Al-‘Aqar KPJ REIT to Al-‘Aqar Healthcare REIT. This is to better reflect the current business strategy of Al-‘Aqar and its group of companies.