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Sabana REIT posts 14.8% lower DPU of 0.75 cent amid market challenges, portfolio optimisation

Michelle Zhu
Michelle Zhu4/22/2019 07:00 AM GMT+08  • 2 min read
Sabana REIT posts 14.8% lower DPU of 0.75 cent amid market challenges, portfolio optimisation
SINGAPORE (April 22): The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) has announced a 1Q19 DPU of 0.75 cent, down 14.8% y-o-y from 0.88 cents a year ago due to lower revenue and net property income (NPI).
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SINGAPORE (April 22): The manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) has announced a 1Q19 DPU of 0.75 cent, down 14.8% y-o-y from 0.88 cents a year ago due to lower revenue and net property income (NPI).

This was largely attributed by the manager to a challenging market and portfolio optimisation, which saw the REIT divest non-performing and mature properties in recent quarters.

Revenue for 1Q19 fell 11.8% on-year to $18.5 million from $21 million, whereas NPI fell 13.3% to $12.7 million from $14.6 million in the previous year.

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