52 AL-SALAM REIT 0 20 40 60 80 100 Average Occupancy Rate (%) 2018 2020 2021 2022 2019 90% 89% 86% 86% 89% CHALLENGES AND PROSPECTS Al-Salām REIT plans to enhance the performance of Menara KOMTAR by introducing the co-working/flexible space to the tenants. The Manager is also looking into obtaining the Green Building Index (“GBI”) certification for the building as part of our commitment towards ESG principles and the promotion of environmental sustainability in our operations. The development of Johor Bahru-Singapore Rapid Transit System (“RTS”) and RM25 billion Ibrahim International Business District (“IIBD”) will ultimately attract more consumer footfall and should augur well for businesses based in the area. It is expected to attract much welcomed foreign direct investment through the establishment of new businesses into the inner-city core of Johor Bahru. We also anticipate the enhanced commercial value of the area will draw more multinational firms to lease therein, resulting in a positive spill over effect on the office market, particularly on Menara KOMTAR. Existing use Office tower GFA (sq. ft.) 242,195 NLA (sq. ft.) 160,592 Number of Car Park Bays 208 Market Value RM70 million Occupancy Rate 89% MANAGEMENT DISCUSSION AND ANALYSIS OFFICE SEGMENT - MENARA KOMTAR 73% 4% 23% 2023 2024 2025 Lease Expiry Pro le Based on Occupied Net Lettable Area (%)
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