Sabana REIT's 9 Tai Seng Drive (Photo: REITsWeek)

Sabana Shari’ah Compliant Industrial REIT (Sabana REIT) has entered into a sale agreement to divest 9 Tai Seng Drive, Geo-Tele Centre, for SGD99.6 million (USD73 million).

The six-storey property, which has an open market value of SGD39.6 million based on the latest available valuation report, is being sold to Ascendas-Singbridge Group.

It has a gross floor area of approximately 218,905 square feet, with a remaining land tenure of approximately 37 years.

To read the full article, please login or subscribe.

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.