||This study examines the extent of corporate real estate holdings by corporate non-property companies listed on Bursa Malaysia for the 1995 to 2001 period. Several asset and capital structure ratios are used to determine the extent of real estate ownership. The results of this study provided strong evidence that corporate real estate is a significant asset in the balance sheets of Malaysian listed companies. On average real estate comprises 36% of net tangible assets, 34% of shareholders' equity, 35% of market capitalization, 27% of total capital employed and 19% of total tangible assets of listed companies for the 1995-2001 period. The level of property ownership of a non-property company is affected by its industry sector. Property holdings vary from 7% for the Mining Sector to 50% in the Hotel Sector. The Plantation and Hotel Sectors are the sectors having a high level of property holdings. The one way ANOVA shows that the real estate asset intensities are significantly different from one sector to another. The Scheffe tests confirms that the Plantation and Hotel Sectors are significantly different other sectors. Property intensity is negatively related to shareholders' equity, market capitalization, and total long term asset. But it is positively related to total liability.