Sabana Reit's H1 DPU trebles to 1.48 S cents; to remove Shari'ah compliance requirement

THE manager of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) has announced a distribution per unit (DPU) of 1.48 Singapore cents for the half year ended June 30, 2021, more than three times the DPU of 0.47 Singapore cents a year ago.

The DPU increase was mainly attributable to the manager's retention of 55 per cent of Sabana Reit's distributable income in H1 last year to conserve the group's capital amid the Covid-19 outbreak. If the income had not been retained, Sabana Reit's DPU would have been 1.05 cents in H1 2020.

Gross revenue rose 14.1 per cent to S$39.1 million, driven by contributions from higher occupancies at New Tech Park, 23 Serangoon North Avenue 5, and 10 Changi South Street 2.