Ratings agency Standard and Poor's Rating Services (S&P) has reaffirmed a BBB- rating on Singapore-listed Shari'ah Compliant REIT, Sabana.
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| Sabana REIT currently maintains a portfolio of 21 industrial properties across Singapore. |
The rating of BBB- is accompanied with a stable outlook for the REIT. S&P has also projected steady rental growth and occupancy rates to support its business risk profile. Sabana REIT is the first and only Shari'ah Compliant REIT to list in Singapore. It maintains a property of 21 industrial properties across the state.
Units of Sabana REIT inched forward 0.44 percent to close the day at S$1.13 on the SGX.