Donald Han, CEO of the manager of Sabana Shariah Compliant Industrial REIT (Sabana REIT) is delivering on the “refreshed strategy” he outlined and subsequently detailed following his appointment as CEO of the manager in January 2018 after a tumultuous 2017 when the former manager lost the REIT’s general mandate.
The refreshed strategy involved raising the portfolio’s occupancy and divesting noncore properties in the first stage. The second stage of the strategy was to initiate asset enhancement initiatives (AEI). The final part of the refreshed strategy is to grow the REIT through acquisitions.
On July 22, three years on, Sabana REIT’s occupancy has risen, it is undertaking an AEI at New Tech Park , NTP+ mall is up and running, and its net property income, distributions and DPU in 1HFY2021 ended June 30 have grown by double and triple-digits y-o-y. However, 2020 was also the year the pandemic started.