Sabana Shari'ah Compliant REIT's New Tech Park. (Photo: REITsWeek)Sabana Shari'ah Compliant REIT's New Tech Park. (Photo: REITsWeek)

Singapore’s only Shari'ah-compliant REIT, Sabana REIT, announced on 4 September that it has entered into a new financing arrangement with CIMB Bank for a three-year term commodity Murabaha facility of up to SGD50 million.

The Murabaha credit facility secured is a non-interest bearing loan in which the industrial REIT will pledge two of its properties in Singapore as security.

“The new Murabaha facility is to be used for Shari'ah compliant general investments and funding purposes and is secured by the properties at 8 Commonwealth Lane and 34 Penjuru Lane”, said Sabana REIT in its announcement on 4 September.

Units of Sabana REIT are currently listed on the Singapore Exchange at SGD0.75.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.