The new CEO of Sabana REIT has spelt out a refreshed strategy for the trust, which will be executed in three main phases throughout 2018 and beyond.
The strategy was communicated to the REIT’s unitholders during an annual general meeting (AGM) on 25 April at the Fairmont Hotel, which REITsWeek was invited to as an observer.
Sabana REIT’s new CEO, Donald Han, took over the helm in January 2018.
Since then, the REIT has undertaken a number of measures with a view on rejuvenating its portfolio, and driving occupancy levels.
These include divesting its non-performing asset at 6 Woodlands Loop for SGD13.8 million (USD10.3 million), which is 7% above the property’s book value.
During his presentation at the AGM Han described 2017 as a ‘difficult’ year for Sabana REIT and its unitholders, but affirmed that he is now looking ahead to drive growths in occupancy, revenue, and ultimately distribution per unit (DPU).
For the years ahead, Sabana REIT has divided its refreshed strategy into three phases, two of which are being focused on in 2018.