Donald Han, CEO of the manager of Sabana Industrial REIT, is looking for support from unitholders in the REIT’s upcoming AGM to continue with his refreshed strategy.
Phase 1 of the refreshed strategy comprises divesting non-performing and mature assets. Phase 2 comprises asset enhancement initiatives (AEIs) such as the addition of 43,000 sq ft of GFA to New Tech Park and the addition of a mall called NTP+ to the property at 151 Lorong Chuan. Phase 3 will focus on accretive acquisitions. Han has articulated a target of $1 billion in assets in the next three to five years.
“In 2018, we decided to prioritise Phase 1 to divest non-performing assets, Phase 2 is about AEIs and Phase 3 on accretive acquisitions,” Han says.