Corporate digest

Sabana Reit

SABANA Shari'ah Compliant Industrial Reit is acquiring a six-storey single-user light industry property at 72 Eunos Avenue 7 for S$20 million from Singapore Handicrafts Pte Ltd under a conditional put and call option agreement. On completion of the acquisition, Singapore Handicrafts will lease back 71 per cent of the space for 10 years and manage the direct sub-tenants for Sabana Reit for a monthly gratuity of S$1,000.

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