Sabana REIT achieves record gross revenue even as funding costs increase

Sabana Industrial Real Estate Investment Trust (Sabana REIT) reported its highest-ever gross revenue of SGD113.3 million for its FY2024, a 1.3% year-on-year increase.

This came alongside a net property income (NPI) of SGD57.5 million, which also marked a 4.5% growth on a year-on-year basis.

Correspondingly, distribution per unit (DPU) for FY 2024 rose by 3.6% year-on-year to 2.86 cents, despite retaining 10% of distributable income to fund ongoing internalisation costs.

Related: Sabana Industrial REIT faces yet another request for EGM