Sabana Shari'ah Compliant Industrial REIT's manager, Sabana Real Estate Investment Management Pte. Ltd., confirmed in a release that it is in talks with ESR-REIT's manager, ESR Funds Management (S) Ltd., in relation to options for the future of the real estate investment trust.
The release comes in response to a report by Reuters that logistics property developer e-Shang Redwood, which owns ESR-REIT, is "in advanced talks" to acquire Sabana Shari'ah.
Sabana Real Estate Investment Management said Sabana Shari'ah has not signed any legally binding agreement with ESR-REIT, and that there is no guarantee that discussions between the two parties will result in a deal. It added that it would announce any material developments from its strategic review exercise as and when they arise.