KEVIN Xayaraj, the embattled chief executive officer and executive director of Sabana Shari' ah Compliant Industrial Real Estate Investment Trust' s manager which had drawn unitholders' revolt has tendered his resignation.

In an announcement to the Singapore Exchange, Sabana Reit' s manager, Sabana Real Estate Investment Management, said the resignation of Mr Xayaraj who has been with the manager since 2010, has been accepted by the board. His last day will be end December 2017 or earlier as may be agreed between the board and Mr Xayaraj to ensure a proper handover and smooth transition for his successor, it added.

It was also announced that following the feedback from unitholders over the reit' s proposed acquisition of 47 Changi South Avenue, the deal has been terminated.

" While the board maintains its view that the proposed acquisition would have been beneficial to the long-term interests of Sabana Reit and unitholders" , in light of the continuing feedback from unitholders, Sabana Reit and Freight Links Properties Pte Ltd - a subsidiary of the Reit' s sponsor, Vibrant Group - have agreed to terminate the put and call option agreement entered into for the proposed acquisition.