China Tobacco, the lessee of 159,752 sqm at EC World REIT’s Hengde Logistics (Hengde Phase 1), has decided to discontinue the lease.
The lease was signed with a term from Oct 5, 2020, to Dec 31.
The manager says it is currently in discussions with China Tobacco in relation to the proposed renewal of its other lease at Hengde Phase 2, which spans 74,057 sqm of Hengde Logistics. This lease was signed with a term from May 9, 2021, to Dec 31.
The manager adds that it is conducting a review of Hengde Logistics, including exploring a new leasing strategy for Hengde Phase 1.
Units in EC World REIT last traded at 28 cents.
