Al-'Aqar REIT's RM12 mil disposal of KPJ Healthcare College Penang building turns unconditional

PETALING JAYA (May 15): Al-'Aqar Healthcare Real Estate Investment Trust (Al-'Aqar REIT) has announced that the sale and purchase agreement (SPA) for the proposed disposal of its KPJ Healthcare College building in Penang has become unconditional following the fulfilment of all conditions precedent.

In a Bursa Malaysia filing yesterday, the REIT's principal adviser UOB Kay Hian (UOBKH) announced that the last of the conditions precedent set out in the SPA was fulfilled on May 14, 2026, in accordance with the terms and conditions of the agreement.

The disposal involves a purpose-built six-storey building with a basement level currently operated as KPJ Healthcare College, Penang, for a total cash consideration of RM12 million. The transaction is classified as a non-related party transaction under Chapter 10 of the Listing Requirements. AmanaRaya Trustees Bhd acts as the trustee and vendor on behalf of Al-'Aqar REIT.

The proposed disposal was first announced on Dec 4, 2025, with a subsequent update on March 10, 2026.

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