Sabana Reit's DPU falls 22% to 1.88¢ in Q1
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Mindy Tan
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SABANA Shari'ah Compliant Industrial Real Estate Investment Trust's (Sabana Reit's) distribution per unit (DPU) fell 22 per cent to 1.88 cents per unit for the first quarter ended March 31, 2014, from 2.41 cents a year ago.
This was on the back of net property income slipping 9.2 per cent to $18.4 million from $20.3 million.
The decline in DPU reflects more challenging market conditions, said Kevin Xayaraj, chief executive officer and executive director of Sabana Real Estate Investment Management, the Reit's manager.
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