The internal management model’s uphill task in gaining traction among Singapore Reits
Lack of size confronts Sabana Reit’s new internalised manager
Add BT as a preferred source
[SINGAPORE] Giving birth to a listed real estate investment trust (Reit) with an internal manager in the Singapore market dominated by Reits and business trusts that have external managers is proving to be an arduous process.
At an extraordinary general meeting held on Aug 7, 2023, Sabana Industrial Reit’s unitholders voted to oust its external manager Sabana Real Estate Investment Management and have an internal manager wholly owned by the trustee. The trustee’s role is to act on behalf of unitholders.
Two years have passed, and an internal manager has yet to take over managing Sabana Reit. Meanwhile, internalisation costs have cumulatively amounted to S$12.2 million as at end-June this year.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
