Sabana Reit looks for turnaround with old hand at the helm

Singapore

SABANA Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) has appointed real estate veteran Donald Han as the new chief executive officer of its manager, following a strategic review which emerged after howls from disgruntled shareholders over the Reit's underperformance.

As a result of the strategic review, the board has also decided to take a 20 per cent cut to director fees for fiscal 2017 to reduce costs of the manager in support of its partial fee waiver to unitholders.