50 AL-SALAM REIT Located in Kuala Terengganu, Mydin Hypermart Gong Badak is a two-storey hypermarket housing commercial activity within the robust retail and wholesaling market segments. The mall comprises conventional retail lots, including F&B lots, promotion lots, kiosks, pushcarts, ancillary lots, bazaar lots and food court. Designed as a modern shopping mall that offers a more leisure-like atmosphere, Mydin Hypermart Gong Badak is one of the main attractions for locals in Kuala Terengganu. Existing use Community Hypermarket GFA (sq. ft.) - (including covered park) 589,232 NLA (sq. ft.) 253,784 Market Value RM170 million* No of Parking Bay 805 Occupancy Rate 100% *The fair value is at RM153 million, derived from the market value of RM170 million less unbilled rental income LEASE TERM 30 years commencing from 21 September 2018 and ending on 20 September 2048. CHALLENGES AND PROSPECTS As the asset is under a triple net lease arrangement with Mydin Hypermarket being well positioned as a resilient community hypermarket, the Manager expects Mydin Hypermart Gong Badak to sustain its contribution to Al-Salām REIT’s core income. MYDIN HYPERMARKET GONG BADAK MANAGEMENT DISCUSSION AND ANALYSIS RETAIL SEGMENT - MYDIN HYPERMART GONG BADAK
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