“The REIT’s income available for distribution per unit in 3QFY2025 of 1.01 cents, which matched the same high as 2QFY2025, was the strongest quarterly performance since 1QFY2018,” the note reads.
The managers add that the REIT is the best performing S-REIT in terms of total return of 34.2% for the first nine months of this year. The REIT also outperformed both the iEdge S-Reit Index and FTSE ST All-Share REIT Index from Jan 1, 2018 to Sept 30, 2025 with total return of 96.7%.
On July 21, 2023, Sabana REIT called for an extraordinary general meeting (EGM) to remove its manager “as soon as practicable” after the resolution is passed.
On Aug 7, 2023, unitholders of the REIT voted to remove the REIT’s manager at the time, Sabana Real Estate Investment Management (SREIM).
See also: Keppel REIT buys one-third stake in MBFC3 from Hongkong Land in a DPU dilutive acquisition
Sabana REIT, on Aug 5, 2024, said it had identified and executed letters of intent with candidates whom it intends to propose as directors and senior management of the REIT’s new internal manager.
This August, the board announced that it will appoint Karen Lee as the CEO of its new internalised manager, and Goo Li Ling as chief financial officer (CFO) of the internalised manager.
The REIT also appointed two directors of the board, Quartz’s Havard Chi and One Hill Capital’s Bhavik Umesh Doshi, on Aug 22. The rest of the director elect will be appointed subsequently.
See also: Keppel REIT buys one-third stake in MBFC3 from Hongkong Land in DPU dilutive deal
“Your steadfast support, as stakeholders, has enabled us to build a REIT that now stands on an even higher, stronger and firmer ground than at the time the reconstitution took place in early 2018. We are heartened that our hard work and effort have been validated by the portfolio’s stellar performance as one of the best performing S-REITs in Singapore. As we step forward and look upwards to the future, we will be ever grateful for the opportunity to have shared the Sabana journey with all of you,” the outgoing manager’s note concludes.
Units in Sabana REIT closed 2.5 cents higher or 5.814% up at 45.5 cents on Oct 23.
