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Sabana Reit posts lower Q1 DPU
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Published Sun, Apr 21, 2019 · 09:50 PM
Singapore
SABANA Shari'ah Compliant Industrial Reit's (Sabana Reit) distribution per unit (DPU) for the first quarter eased to 0.75 Singapore cents per unit, down nearly 15 per cent from 0.88 cents a year ago on the back of lower revenue and net property income (NPI).
Gross revenue fell 11.8 per cent year-on-year to S$18.52 million, partly due to the divestment of its Tai Seng drive property in Q1 2019 as well as lower contribution from properties at 151 Lorong Chuan, 8 Commonwealth Lane and 34 Penjuru Lane.
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