Sabana REIT admits that it has a significant amount of unutilised plot ratio.
But the industrial REIT will not be developing these into lettable area anytime soon, given supply dynamics at the moment.
An explanation on this was provided by the CEO of the REIT’s manager, Donald Han on 23 January.
He was giving a brief on the REIT’s financial results for 4Q 2019.
Sabana REIT reported a distribution per unit (DPU) of 0.77 Singapore cents for the quarter, which is 8.5% higher year-on-year.
However, gross revenue decreased 2.9% year-on-year for 4Q 2019.
This was mainly due to lower average occupancies, the expiry of a master lease at 3A Joo Koon Circle, and the divestment of 9 Tai Seng in January 2019.
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