China Tobacco has selected EC World REIT’s Hengde Phase 2 as its warehouse for storing raw materials. Hengde Phase 2 comprises 74,057 sqm (797,142.91 sq ft) of Hengde Logistics.
This comes after China Tobacco had decided to discontinue its lease at Hengde Phase 1. That lease was signed for a period from Oct 5, 2020, to Dec 31.
The new lease will begin on Jan 1, 2024 and expire on Dec 31, 2025. The new rental rate is the same as the one under China Tobacco’s existing lease at Hengde Phase 2. That lease will expire on Dec 31.
Units in EC World REIT last traded at 28 cents.
