KL plans RM1b Islamic property trust

Pelaburan Hartanah Bumiputra Bhd, a unit of a Malaysian government foundation, said it will start a RM1 billion Islamic property trusted to enable the country’s so-called bumiputeras to invest in real estate.

Bumiputeras, comprising ethnic Malays and indigenous people, will able to invest in the trust for a minimum RM500, Pelaburan Hartanah said in a statement today.

Pelaburan Hartanah is a unit of Yayasan Amanah Hartanah Bumiputra, a foundation created by the government for real estate investment in 2006.

By Bloomberg