Sabana Reit explains S$54.7m decline in fair value of its assets

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.