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Sabana REIT's NTP+ nears 100% commitment, to contribute from 2Q21: analysts

Atiqah Mokhtar
Atiqah Mokhtar4/20/2021 01:25 PM GMT+08  • 3 min read
Sabana REIT's NTP+ nears 100% commitment, to contribute from 2Q21: analysts
The 43,000 square feet lifestyle mall located at New Tech Park is slated to open in 2Q21.
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Analysts from DBS Group Research and PhillipCapital are positive on Sabana Shari'ah Compliant Industrial REIT’s prospects ahead of the opening of NTP+, slated for 2Q2021.

The lifestyle mall, which is located at New Tech Park (NTP), comprises around 43,000 square feet of gross floor area (GFA) and is part of ongoing asset enhancement initiatives (AEI) for NTP.

The DBS Group Research team notes that NTP+ has reached 96.7% commitment, up from around 80% reported in early March. Tenants secured include SF Group and Wine Connection, with rental rates reportedly between $8 - $10 per square foot (psf) monthly.

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