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EC World REIT's Hangzhou property receives notice of compulsory expropriation

Felicia Tan
Felicia Tan1/10/2022 8:27 AM GMT+08  • 2 min read
EC World REIT's Hangzhou property receives notice of compulsory expropriation
As at Dec 31, 2020, the property was valued at $24.8 million, making up 1.45% of EC World REIT's portfolio.
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Fu Zhuo Industrial, a property owned by Hangzhou Fu Zhuo Industrial Co., Ltd, which is in turn wholly-owned by EC World REIT, has received a formal notice from the People's Government of Linping District, Hangzhou City, People’s Republic of China on Jan 6, for the compulsory expropriation of Fu Zhuo Industrial.

The property’s expropriation is for the development of the Grand Canal National Cultural Park in Hangzhou.

Fu Zhuo Industrial is a port property that comprises berths and office buildings and is located in the west of Chongxian New City, north of Hangzhou, on the east bank of the Beijing-Hangzhou Grand Canal.

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