In its 3QFY2020 business update, Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) signed 304,622 sq ft of new leases and renewed 586,043 sq ft after the circuit breaker measures were lifted.

As such, the REIT saw an increase in its portfolio occupancy to 80.2%, up from 77.3% as at June 30, with a weighted average lease expiry (WALE) of 2.7 years.

The REIT’s asset enhancement initiative (AEI) on New Tech Park, which will be renamed to NTP+ is slated for its temporary occupation permit (TOP) in 1Q2021.

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