This document is based on Malaysia’s innovative launch of the world’s first Islamic REIT in July 2006. The asset class has registered encouraging growth and presents strong prospects to augment the Islamic wealth management practices globally. Islamic REITs have a natural alignment with Shariah principles – which emphasize real-sector investments – and there is considerable opportunity for financial institutions to introduce Islamic REIT products to the market. Malaysia has a clear advantage in this regard thanks to a comprehensive and clear regulatory framework and incentives that provide clarity to managers interested in operating Islamic REITs.