Management Discussion and Analysis REVIEW OF OPERATIONS (CONT'D) RETAIL SECTOR (CONT'D) Existing use Retail Lot GFA (sq. ft.) 2,762 NLA (sq. ft.) 2,762 Market Value RM1,130,000 Occupancy Rate 100% Unit No G-104, Megamall Pinang OFFICE SEGMENT Menara KOMTAR, a 25-storey freehold office tower located in Johor Bahru City Centre, stands as the sole office asset within Al-Salām REIT’s diversified portfolio. The building is strategically positioned adjacent to KOMTAR JBCC. The building continues to serve as a strategic office space in Johor Bahru's central business district, maintaining a strong tenancy by the JCorp Group of Companies. Its prime location and stable occupancy underscore its significance in contributing to the REIT's income stability and long-term capital appreciation. Unit No. G-104 is a ground-floor retail lot within Megamall Pinang Shopping Complex, a prominent shopping destination located at Perai, Pulau Pinang. Occupied by Talk Space Distribution Sdn Bhd, a one-stop destination for mobile phones and related accessories, it is a budget-friendly telecommunications shop that features the latest flagship smartphones. Existing use Office Tower GFA (sq. ft.) 242,195 NLA (sq. ft.) 160,592 Number of Car Park Bays 208 bays Market Value RM70 million Occupancy Rate 88% Menara KOMTAR 32 AL-SALĀM REIT ANNUAL REPORT 2024
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