Sabana Industrial REIT has announced the onboarding of a new tenant at Sabana@1TA4. The unnamed tenant is said to be one of Singapore’s leading manufacturers of interior products and has served the public sector and some of the biggest private residential developers. The company also caters to commercial and institutional spaces in Singapore. Its affiliate firm serves the interior product needs of the international market and consumer segment.
According to the REIT, the tenant is set to occupy approximately 64% of the property’s total lettable area in an annexe block, which comprises a three-storey warehouse, production and ancillary office.
Sabana@1TA4 just received its temporary occupation permit (TOP) on July 9. The property, situated near Tuas Crescent MRT station, provides industrial space and a sustainable work environment suitable for corporate headquarters.
Donald Han, CEO of the Manager of Sabana Industrial REIT, says: “Sabana@1TA4 is uniquely positioned as a transformed, modern industrial building that is highly desired for its convenient location near amenities.”
The tenancy is subject to approval from the relevant authorities, barring which, rental contribution by the new tenant to the REIT is expected from 1QFY2025 onwards.
Meanwhile, the REIT is currently installing solar panels at Sabana@1TA4, which are slated for completion in 4Q2024. Upon completion, the property will incorporate slightly over 4,500 sqm of solar panels which will collectively generate more than 1,000 megawatts per hour of energy per year.
Units in Sabana Industrial REIT closed flat at 35 cents on Sept 10.
