Sabana Shari'ah Compliant Industrial Real Estate Investment Trust
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Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (SIN:M1GU) is the largest shariah compliant REIT in the world. Its IPO was in November 2010, and it sold 508 million units at S$1.05. Business people in Singapore want to attract money from Middle Eastern investors and Mid-East government investment funds.
It's based in Singapore, which although partly Chinese also has many Muslims. And Singapore is close to Malaysia, having once been a part of that country, which is mainly Muslim. It's the first shariah compliant REIT listed on the Singapore exchange, and the first to adopt the GCC Shariah Compliant standard.
Sabana REIT specializes in industrial and warehouse properties. It was conceived and brought to life by Blackwood Investment Pte Ltd, a private holding company founded by the Sabana REIT managers.
The name "Sabana" refers to early written records of Singapore from the 2nd century, where it was identified as a trading post and described and named by a Greek astronomer.
One of Singapore's strength is that, although just one large city, it's got a good harbor and so is an industrial shipping hub.
Sabana's management is Sabana Real Estate Investment Management Pte Ltd (SREIM), which is 100% owned by Sabana Investment Partners Pte Ltd (SIP), incorporated in March 2010, and comprised of Freight Links Group, Blackwood Investment Pte Ltd and Tarian Capital Partners Pte Ltd.
Kevin Xayaraj is the Co-Founder, Chief Executive Officer and Executive Director of Sabana. Sabana's property manager is Sabana Property Management Pte Ltd, which is 100.0% owned by Sabana Investment Partners Pte. Ltd.
They own about 3.29 million square feet, worth about S$850 million. They are included in the Morgan Stanley Capital International (MSCI) Global Small-Cap Indices.
Sabana Shari'ah Compliant Industrial REIT Property Portfolio Includes:
151 Lorong Chuan; 8 Commonwealth Lane; 9 Tai Seng Drive; 200 Pandan Loop; 15 Jalan Kilang Barat; 33 & 35 Penjuru Lane; 18 Gul Drive; 1 Tuas Avenue 4; 34 Penjuru Lane; 51 Penjuru Road; 26 Loyang Drive; 3 Kallang Way 2A; 218 Pandan Loop; 123 Genting Lane; and 30 & 32 Tuas Avenue 8.
Therefore, Sabana Shari'ah Compliant Industrial Real Estate Investment Trust is positioned to benefit from industrial activity in Singapore.
Next: Suntec REIT -- a trust owning both retail and office commercial properties.
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