ESR is still not done growing and after merging with Viva Industrial Trust, the REIT has reached an agreement to purchase its competitor Sabana.

Each Sabana unitholder will receive 94 new ESR-REIT units for every 100 Sabana Units held, the companies said in a joint statement on Thursday (Jul 16). The merged entity will have total assets worth about S$4.1 billion, they said.