The Islamic capital market which was introduced alongside Malaysian capital market in 1996 is now an integral part and parcel of the overall Malaysian capital market and offers wide range of Islamic investment products which are free form unsury (riba’), gabling (maisir) and ambiguity (gharar). By setting up guidelines for Islamic REITs, Malaysia has in actual fact pave the way for another Islamic financial product to be enlisted in its Islamic capital market. To date, Malays