Thailand’s biggest warehouse developer WHA Corp said on Monday it plans to launch a real estate investment trust (REIT) worth 8.02 billion baht ($230 million) in November with underlying assets in industrial estates of its Hemaraj unit. This will be the first REIT under the Hemaraj brand after WHA, builder of bespoke warehouses for lease, acquired industrial land developer Hemaraj Land and Development Plc in early 2015. Hemaraj Leasehold Real Estate Investment Trust (HREIT) will offer 569.4 million trust units to unit holders of WHA Premium Growth Real Estate Investment Trust, or WHART,, WHA said in a statement.
Read more: Economic Times
