The most common avenue of raising capital is through debt financing and the traditional method of debt financing adopted by firms is bank borrowing e.g. overdraft facilities or property mortgage. In a healthy property market condition and lower interest rate, property mortgage could be cheaper and the amount of debt could be higher. However, interest rate and property market usually move in parallel direction, thus property value may appreciated in values but the cost of fund

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