You are here
Hatten Land branches out into mall management with new unit
MALAYSIAN developer Hatten Land is entering the mall management business with a new retail space and property management division unit, it announced on the Singapore Exchange on Thursday.
The Catalist-listed firm's wholly-owned indirect subsidiary, Hatten Commercial Management, will provide leasing and retail management to the commercial retail units within the malls developed by the group, starting with the 1,530-unit Elements Mall @ Hatten City Phase 1, Melaka's largest shopping centre.
The mall management arm is part of Hatten Land's strategy to complement its core property development business and drive recurring revenue. It is expected to contribute revenue from the first half of its financial year ending June 30, 2019, said the group.
It will be helmed by chief executive officer Pow Lay Kuan, who has over 20 years of experience in retail. She was formerly the chief executive officer of APM Property Management, which managed properties such as Suntec City Mall, Park Mall and Capital Square.
Besides Elements, Hatten has the completed Vedro by the River mall under its belt. It also has another three malls pending completion.
Hatten Land closed at S$0.168, 0.1 Singapore cent lower on Thursday before the announcement.