Malaysian Government-backed Pilgrim Funds Board (Lembaga Tabung Haji) has purchased 98,500 units of Al-Aqar Healthcare REIT at a price of RM1.00 each. This brings the Board's total holdings of units in Al-Aqar REIT to 57,859,856 units.
|Al-Aqar REIT is a Malaysia's first and only Shariah compliant healthcare REIT. Photo by Al Aqar REIT|
The Pilgrim Funds Board is a statutory body that helps Malaysian Muslims save up for a pilgrimage to Mecca. It regularly invests in Shariah-compliant vehicles to generate returns for depositors. As of 2012 the Pilgims Funds Board manages about RM34.9 billion in assets including RM31.6 billion in pilgrim's deposits.
Al-Aqar REIT is a Healthcare REIT with a portfolio of 25 hospitals and healthcare related properties, including one retirement village in Australia and 2 private hospitals in Indonesia.
Units of Al-'Aqar REIT are currently trading upwards of about 0.75 percent from its previous close at RM1.34 on the Bursa Malaysia.