Industry Report Card: Asia-Pacific REITs Work Harder To Lure Tenants Amid Subdued Property Markets Jun 12
- Language: English
- Published: June 2012
The rating on Singapore-based SABANA SHARI'AH COMPLIANT REIT (Sabana) reflects the trust's good quality, well located industrial property assets and our estimate of stable cash flow. Sabana's limited geographic diversity and the short track record of the REIT manager temper these strengths. We assess Sabana's business risk profile as "satisfactory" and its financial risk profile as "intermediate," as defined in our criteria. Sabana's number of properties is smaller than that of its industrial REIT peers in Singapore. However, the portfolio valuation and average unit rent weighted by net lettable area are higher than those of its peers, reflecting Sabana's more higher-specification high-tech industrial assets. Sabana has an occupancy rate of 99% with five properties under a master lease renewable in...
Companies mentioned in this report are:
- SABANA SHARI'AH COMPLIANT REIT
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