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Sabana Industrial REIT reports 'steady performance' for 1QFY2022 with leases renewed at positive rental reversion

Felicia Tan
Felicia Tan4/21/2022 08:31 AM GMT+08  • 2 min read
Sabana Industrial REIT reports 'steady performance' for 1QFY2022 with leases renewed at positive rental reversion
New Tech Park. Photo: Sabana REIT
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The manager of Sabana Industrial REIT has reported portfolio occupancy of 85.2% for the 1QFY2022 ended March. Excluding the REIT’s property at 1 Tuas Avenue 4 which is marked for redevelopment, occupancy would have been at 88.2%.

As at March 31, the REIT’s weighted average lease expiry (WALE) stood at 2.7 years.

During the quarter, the manager renewed 208,633 sq ft of leases with a positive rental reversion of 4.0%. Of the leases expiring in 2022, some 44.1% of them were renewed. There are no master leases expiring till 2023.

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