Ms. Jarucha Satimanont, Managing Director of WHA Industrial REIT Management Company Limited, as the REIT Manager of Hemaraj Leasehold Real Estate Investment Trust (HREIT), announced that the Board of Directors passed a resolution to change the name of HREIT to "WHA Industrial Leasehold Real Estate Investment Trust" with the acronym "WHAIR", expected to be completed by June 8, which will reflect the investment structure of WHA Group's industrial estates.
In 2022, WHAIR has set a strategy to reinforce its strength with the additional investment in leasehold assets No.4, which will include the lease of land with factories and warehouse buildings representing 14 units in 7 projects from three companies:
(1) WHA Eastern Seaboard Industrial Estate Co., Ltd. for 1 unit in WHA Eastern Seaboard Industrial Estate 1 (WHA ESIE 1) and 3 units in WHA Logistic Park 2 (WHA LP 2).
(2) WHA Industrial Buildings Co., Ltd., which invested in 1 unit in the Eastern Seaboard Rayong Project (ESIE), 1 unit in WHA Chonburi Industrial Estate 1 (WHA CIE 1), 1 unit in Hi-Tech Kabin Industrial Estate, 2 units in WHA Logistics Park 1 (WHA LP 1) and 2 units in WHA Logistics Park 4 (WHA LP 4).
(3) Eastern Seaboard Industrial Estate (Rayong) Co., Ltd. for 3 units in Eastern Seaboard Industrial Estate (Rayong) (ESIE).
WHAIR's Managing Director added that the No.4 additional investment is for leasehold rights of Ready-Built Factories and Ready-Built Warehouses for 30 years, with the rights to extend the lease for another 30 years. The leasehold assets will be under the management of WHA Group, Thailand's No 1 industrial estate developer. The No.4 additional investment will cover a total building space of 48,186 square meters and represent a value of no more than THB 1,345.89 million.
Meanwhile, WHAIR plans to propose the meeting of trust unitholders to approve the No.4 additional investment on June 28. After the unitholders' approval, WHAIR will file the information and prospectus draft to the Securities and Exchange Commission (SEC) to get approval for the sale and issuance of trust units for the No.4 additional investment in leasehold assets. It is expected that the investment will be completed by the end of 2022.
Source: มีเดีย แพลนเนอร์ คอนซัลแทนท์
