Sabana Industrial REIT (Sabana REIT) has struck an optimistic note with regards to the prospects of its assets, despite ongoing tenant troubles and a seemingly stagnant occupancy figure.
The REIT disclosed on 23 January that its revenue of SGD111.9 million for FY2023 represents an all-time high, and is 17.9% higher year-on-year when compared to what was reported for FY2022.
However, the REIT’s occupancy remained relatively unchanged at 91.2% when compared to what was reported a year ago.
Included in this occupancy figure is 33-35 Penjuru Lane, which is considered to be fully leased despite facing tenant delinquency issues.
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