Data from Sabana REIT’s latest disclosure have been updated into the Singapore REITs table.
Though it will be removing its adherence to Shari’ah principles, Sabana REIT will still endeavour to be “Shari’ah-friendly” to placate investors and indices that track such products.
This was disclosed by the CEO of the REIT’s manager, Donald Han, in response to questions from REITsWeek at a media event on 22 July during which he also discussed its financial results for 1H 2021.
Sabana REIT was listed as Singapore’s first Shari’ah-compliant REIT in 2011.
But as REITsWeek has been reporting since at least October 2019, the REIT is at risk of losing its Shari’ah-compliance status given the redevelopment of its crown jewel asset, New Tech Park, into one with retail components.
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