Sabana Industrial REIT’s portfolio occupancy climbs to a new high in Q123

The REIT recorded a 92.6% occupancy.

Sabana Industrial Real Estate Investment Trust’s (REIT) portfolio rose to 92.6% in Q123, marking its highest level since Q1 202.

The REIT achieved the feat thanks to the 180,262 sq ft of new leases it signed during the quarter.

In a bourse filing, the REIT said most new leases signed in Q1 were with third-party logistics providers.

Amongst new leases the REIT secured in Q1 include 10 Changi South Street 2, 34 Penjuru Lane, 51 Penjuru Road, 15 Jalan Kilang Barat and New Tech Park.

Meanwhile, the REIT also renewed 156,388 sq ft of leases with a positive 13.6% rental reversion in Q1.

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