Sabana REIT disposes six-storey industrial building for USD73 million

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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.

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