Staff Reporter
,
Singapore
Photo from Shutterstock
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.”
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!