The enlarged REIT that will arise from the merger of ESR-REIT and Sabana REIT Shari’ah-compliant REIT (Sabana REIT) will not be adhering to Islamic financing regulations.
Sabana REIT is Singapore’s first, and currently only Shari’ah-compliant REIT.
It was listed in 2010 under a Shari’ah-compliant framework, partly with the intention to attract funds from the Middle East, and Muslim-majority nations.
Sabana REIT and ESR-REIT subsequently announced on 16 July that it has proposed to merge to form Singapore’s 5th largest industrial REIT by asset size
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