Sabana REIT faces 2.3% DPU impact due to tenant liquidation

The tenant accounts for 2.4% of the REIT’s gross rental income.

Sabana Industrial REIT said its tenant at 30 & 32 Tuas Avenue 8, GDMC Pte. Ltd., has been placed in provisional liquidation.

The REIT expects the situation to impact its proforma FY 2023 distribution per unit or DPU by 2.3%.

In FY23, GDCM accounted for 2.4% of the REIT’s total gross rental income.

The REIT’s manager said it is taking legal advice and will “take active steps to mitigate any losses arising from the development.”

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