Singapore – October 2011 – Yardi Systems, one of the leading global developers of real estate software for investment, asset and property management, has announced that Sabana Real Estate Investment Management Pte. Ltd. has chosen Yardi Voyager™ to manage Sabana REIT’s industrial portfolio in Singapore.
Sabana Real Estate Investment Management Pte. Ltd. is the manager of Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (“Sabana REIT”). Sabana REIT is Singapore’s first and only Shari’ah compliant REIT, with an industrial- focused portfolio. The company previously used multiple systems to manage their company and portfolio administrations and recently evaluated the latest technologies available to the real estate industry to assess how technology would support growth within their business.
“We needed to replace a number of systems to streamline the business and at the same time, ensure the technology within the company could support our plans for growth”, comments Ms. Tan Chiew Kian, Chief Financial Officer of Sabana Real Estate Investment Management Pte. Ltd.. “Yardi’s platform had numerous strengths: its ease of use, scalability and strong financial accounting and reporting functionality. It is also extremely important that Yardi shows a dedication to supporting clients within the local regions”.
Yardi has implemented for Sabana the Yardi Voyager integrated property management and financial accounting platform utilising Yardi Cloud Services, a cost-effective, software provisioning and data management solution, further increasing operational efficiency with Yardi hosting and maintaining its property management system.
“We are very happy to welcome Sabana on board as a client”, comments Neal Gemassmer, Vice President for Yardi Systems in Asia Pacific. “We have been able to demonstrate our commitment to our local markets once again, not just through uniquely matching our solution’s features to meet the client’s requirements, but the ability to resource and support at the local level”.
About Sabana Real Estate Investment Management Pte. Ltd.
Sabana Real Estate Investment Management Pte. Ltd. is the manager of Sabana Shari’ah Compliant REIT. Sabana Shari’ah Compliant REIT is a real estate investment trust constituted on 29 October 2010 under the laws of Singapore.
Sabana Shari’ah Compliant REIT is established principally to invest in income-producing real estate used for industrial purposes in Asia, as well as real estate-related assets, in line with Shari’ah investment principles. The initial property portfolio of Sabana Shari’ah Compliant REIT comprises 15 industrial properties located across Singapore.
The Manager’s key objective is to provide Unitholders of Sabana Shari’ah Compliant REIT with regular and stable distributions and long-term growth in distribution per Unit and net asset value per Unit, while maintaining an appropriate capital structure.
For further information on Sabana Shari’ah Compliant REIT, please visit www.sabana-reit.com.
About Yardi
Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for more than 28 years. The Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Australia, Asia, Europe and North America. More information about Yardi products and services is available at www.yardi.com.
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