Sabana Industrial REIT H1 2022 DPU Up 7.4%

July 21, 2022 – Sabana Industrial Real Estate Investment Trustreported financial results for the first half financial year ended 30 June 2022 (H1 2022).

Gross revenue for 1H 2022 rose by 14.7% year-on-year to $44.9 million, mainly due to higher portfolio occupancy of 88.2%, underpinned by a newly secured 10-year master lease for 30 & 32 Tuas Avenue 8. In tandem with the higher gross revenue, NPI increased 5.2% y-o-y to $27.0 million for 1H 2022.

The total amount available for distribution for 1H 2022 was $17.1 million, 9.6% higher compared to the previous corresponding period. 

DPU rose by 7.4% to 1.59 cents for 1H 2022, as compared to 1.48 cents in 1H 2021.

Mr Donald Han, Chief Executive Officer of the Manager of Sabana Industrial REIT said, “The REIT has stayed resilient and grown from strength to strength, anchored on our Grow VALUE strategy. In the past six months, we have improved on our portfolio value, which translated into higher NAV per unit, and increased our net property income. Together, these enabled us to reward Unitholders with a higher DPU of 1.59 cents.

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