SEO Version
SABANA
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GENERAL
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (the “Trust”) is a Singapore-domiciled u
pursuant to the trust deed dated 29 October 2010 (as amended) (the “Trust Deed”) between Sabana Rea
Management Pte. Ltd. (the “Manager”) and HSBC Institutional Trust Services (Singapore) Limited (the “
Deed is governed by the laws of the Republic of Singapore. The Trustee is under a duty to take into cu
assets of the Trust, held by it or through its subsidiaries (collectively, the “Group”) in trust for the holders (“U
in the Trust (the “Units”).
The Trust was a dormant private trust from the date of constitution until its acquisition of properties on
(“Initial Properties”). It was formally admitted to the Offcial List of Singapore Exchange Securities Trading
ST”) on 26 November 2010 and was included in the Central Provident Fund (“CPF”) Investment Schem
2010.
The principal activity of the Trust is to invest in income producing real estate used for industrial purposes in
estate-related assets, in line with Shari’ah investment principles.
The Group has entered into several service agreements in relation to the management of the Trust and its p
The fees structures of these services are as follows:
(a)
Property manager’s fees
The Property Manager is entitled under the Property Management Agreement to the following m
each property of the Trust located in Singapore under its management:
•
a property management fee of 2.0% per annum of gross revenue of each property; and
•
a lease management fee of 1.0% per annum of gross revenue of each property.
No lease management fee is payable in relation to the Initial Properties for the frst three years of t
lease.
The property management fee and the lease management fee are payable to the Property Manager
(b)
Manager’s fees
Pursuant to the Trust Deed, the Manager is entitled to the following manager’s fees:
•
a base fee not exceeding the rate of 0.5% per annum of the value of the deposited propert
•
a performance fee equal to 0.5% per annum (or such lower percentage as maybe determin
in its absolute discretion) of the Net Property Income of the Trust or the relevant special purp
in each fnancial year, payable on a yearly basis, provided the Trust achieves at least 10.0%
distribution per Unit over the previous fnancial year (calculated after accounting for the perf
for that fnancial year and after adjusting, at the discretion of the Manager, for any new Un
conversion or exercise of any instruments convertible into Units which are outstanding at the
and any rights or bonus issue, consolidation, subdivision or buy-back of Units).
The Manager may elect to receive the base fee and performance fee in cash or Units or a combinatio
(as it may in its sole discretion determine).
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