Sabana Reit explains S$54.7m decline in fair value of its assets
Ongoing pandemic affecting assumptions on market rent and market rent growth rate
Singapore
MARKET weakness and uncertainty have driven down the fair value of Sabana Reit's investment properties, the manager said, after a regulatory query over the S$54.7 million decline in value reported in its half-year results.
Given the ongoing Covid-19 pandemic, "assumptions on market rent and market rent growth rate are generally lower, and vacancy assumptions are generally higher for most properties", it said in a late filing on Thursday.
