AL-SALAM REIT ANNUAL REPORT 2019

39 ANNUAL REPORT 2019 Office Menara KOMTAR OPERATIONAL REVIEW AL-SALĀM REIT • OVERVIEW OF PROPERTY Rejuvenated and refreshed, Menara KOMTAR has undertaken major refurbishment in 2013. The 25-level purpose-built office tower located in Flagship Zone A of Iskandar Malaysia which is established with the key development strategy to regenerate Johor Bahru into a vibrant economic centre while preserving its cultural and heritage values. It is also located strategically within the proximity to world’s most dynamic economic at the confluence of important East-West trade routes and part of the Indonesia-Malaysia-Singapore Growth Triangle. The table below sets out a summary on office building as at 31 December 2019 Existing Use Office Building GFA (sq.ft) 242,195 NLA (sq.ft ) 160,592 Number of Car Park Bays 208 bays Market Value RM73 million Number of Tenancies 21 tenants Occupancy Rate 89% TENANT PROFILE i. Top Ten Tenant The major tenants contributed for approximately 89% of total income. ii. Trade Sector Analysis (Gross Rental Income) Others TPM Technopark Sdn Bhd Damansara Assets Sdn Bhd JCorp 75 65 8 13 6 11 9 14 Trade Sector By Occupied NLA(%) Gross Rental Income (%) iii. Tenancy Expiry Profile (Occupied NLA) 2020 60% 2022 10% 2021 30% TENANCY EXPIRY PROFILE MAJOR ASSET ENHANCEMENT INITIATIVE There was no major enhancement initiative undertaken for year 2019. The fund will continue to enhance the relationship with the tenant’s need and requiment. JCorp Group of Companies occupied about 76% of the NLA. TENANT JCorp 75% TPM Technopark Sdn Bhd 8% Damansara Assets Sdn Bhd 6% Others 11%