Damansara REIT Managers appoints Zulhilmy Kamaruddin as its new CEO

• He succeeds Raja Nazirin Shah Raja Mohamad, whose tenure concludes with the expiry of his contract.

KUALA LUMPUR (Nov 22): Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT and Al-Salam REIT, has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).

“I am honoured to assume this role and build on the strong foundations of Al-`Aqar and Al-Salam. My priorities are to optimise portfolios, diversify assets, and advance ESG (environmental, social, and governance) initiatives to deliver long-term value for all stakeholders,” said Zulhilmy in a press release.

He succeeds Raja Nazirin Shah Raja Mohamad, whose tenure concludes with the expiry of his contract.

Zulhilmy comes with over 20 years of extensive expertise in corporate finance, Islamic capital markets and fund management. He has played key roles in Malaysia’s real estate investment trust (REIT) sector, with involvement in the listing of Sentral REIT and PNB REIT. Additionally, he served as technical advisor for Oman’s first shariah-compliant Aman REIT, which was successfully listed on the Muscat Securities Market.

He has also worked with RHB, Maybank and the Employees Provident Fund (EPF) in senior roles, with experience in investment banking and research.

Al-`Aqar Healthcare REIT is Malaysia’s first Islamic healthcare REIT and was listed on Bursa Malaysia in 2006. The REIT comprises 23 properties valued at RM1.64 billion, including 17 hospitals, three wellness centres, two colleges in Malaysia, and an aged care and retirement village in Australia.

Al-Salam REIT is a shariah-compliant fund with a diversified portfolio in Malaysia. Listed on Bursa Malaysia in 2015, Al-Salam REIT has achieved significant growth. Its portfolio encompasses 54 properties comprising four retail outlets, an office building, 48 food and beverage assets, and a college.

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