pg. 23 Business Overview Integrated Annual Report 2025 KOMTAR JBCC’s NPI yield rose from 0.98% in FY2024 to 2.98% in FY2025, with AEIs successfully attracting tenant profiles intended for a transit-oriented mall, in anticipation of the completion of the RTS Link in 2027. These AEIs, developed to ensure the REIT is sufficiently prepared to capitalise on its cross-border shoppers and daily commuter demographic, primarily include upgrading of common areas to provide an updated look and feel to improve shopper and tenant appeal, alongside key reconfigurations of layout and tenant mix that are aligned with the position of KOMTAR JBCC as a transitoriented mall. As a result, KOMTAR JBCC achieved a strong occupancy of 71%, with a refreshed al-fresco dining area that enjoys high traffic exposure to Jalan Wong Ah Fook, successfully attracting cross-border F&B and medical services tenants. Common area upgrades were also completed on the first and second floors of KOMTAR JBCC. A major tenant mix and layout reconfiguration was also completed on the second floor of KOMTAR JBCC, aimed at attracting grab-n-go and F&B tenants. The second floor now features an updated design, with improved footfall from pedestrians alighting from the Customs, Immigration and Quarantine (“CIQ”) complex, which is connected via a POB to the second floor of KOMTAR JBCC. The completion of the cross-border RTS will enhance KOMTAR JBCC’s accessibility via a direct POB connection from the Bukit Chagar RTS station, positioning the asset to capture stronger pedestrian traffic flows. This spillover is expected to enhance the appeal of Menara KOMTAR as one of the few office buildings with unparalleled connectivity to the Bukit Chagar RTS station, whilst also benefiting other developments situated strategically on the same integrated plot, creating a vibrant commercial space within the immediate area. BUSINESS REVIEW OPERATIONAL HIGHLIGHT: STELLAR PERFORMANCE FROM THE RETAIL SEGMENT Among Al-Salām REIT’s portfolio, the retail segment achieved strong results throughout FY2025, supported by the success of asset enhancements at KOMTAR JBCC, which attracted strong tenant demand and improved rental reversion rates. KOMTAR JBCC’s 2.98% NPI Yield 71% Occupancy Rate
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