Home Investment Sabana Industrial REIT’s 2H FY24 Review

Sabana Industrial REIT’s 2H FY24 Review

by Deidre Salcido
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Basic Profile & Key Statistics

Key Indicators

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Performance Highlight

Gross revenue and NPI improved YoY, driven by positive rental reversions across the portfolio. Total income available for distribution also increased, supported by higher NPI and lower expenses related to internalization, despite a rise in finance costs. Additionally, the total distribution amount declared saw a higher proportion due to lower retention compared to the previous year.

Rental Reversion

The rental reversion for 3Q and 4Q stands at 9.7% and 27.1%, respectively. Notably, Sabana has achieved positive rental reversions for 16 consecutive quarters.

Asset Enhancement Initiative

Multiple AEIs are being carried out across the portfolio. 

Related Parties Shareholding

REIT Sponsor’s Shareholding: Less FavorableREIT Manager’s Shareholding: Less FavorableDirectors of REIT Manager’s Shareholding: Less Favorable

Lease Profile

Occupancy: Less FavorableWALE: Less Less FavorableHighest Lease Expiry in 4 Years: Less FavorableWeighted Average Land Lease Expiry: Less Favorable

Debt Profile

Gearing Ratio: ModerateCost of Debt: ModerateFixed Rate Debt %: ModerateUnsecured Debt %: FavorableWADM: Less ModerateHighest



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