Sabana Reit H1 DPU up 1.3% to S$0.0161 on ‘strong operational performance’

SABANA Industrial Real Estate Investment Trust (Sabana Reit) posted a distribution per unit (DPU) of S$0.0161 for the first half of its fiscal year ended Jun 30, 2023, up 1.3 per cent from S$0.0159 in the corresponding year-ago period, its manager announced on Wednesday (Jul 19).

Gross revenue for H1 was up 23.2 per cent on year to S$55.3 million from S$44.9 million, mainly due to higher portfolio occupancy of 93.9 per cent. This is 2.6 percentage points higher than the 91.3 per cent recorded in the corresponding year-ago period, and a multi-year high, the manager said.

“The improvement in occupancy rate is underpinned by the strong leasing momentum backed by robust demand from third-party logistics providers in the first half of 2023,” it said.