Hatten Land partners The Medici-Watermark to manage its three malls in Melaka

Tan Nai Lun

Published Tue, Jun 22, 2021 · 09:06 AM

HATTEN Land has entered into a memorandum of understanding with The Medici-Watermark (TMW) to manage three of its malls in Melaka, Malaysia, the group announced in a stock exchange filing on Tuesday morning.

The property developer said TMW will use the retail and business space to develop new and innovative usage concepts aligned with future rental trends through the three malls, which are Elements Mall, Imperio Mall and Vedro by the River.

The group added that TMW, which is an indirect 60 per cent-owned subsidiary of Hatten Land, is focused on creating new value propositions and opportunities by merging physical property assets with the digital economy.

TMW has set up co-working space, PRIME 53, in Singapore and Melaka to serve as a platform for enterprises in Singapore and Malaysia to collaborate to drive greater economies of scale and create new business ideas, said the group.

Under PRIME 53, TMW also launched an Enterprise 1,000 initiative to facilitate the collaboration and cooperation of 1,000 enterprises in Singapore and Malaysia, the group added.

Chairman of TMW Victor Ng said: "Real estate is a trillion-dollar industry but it lags behind most asset classes in digitisation and adoption of technology. TMW aims to bridge this gap with solutions that create a more transparent, predictable and liquid real estate market for stakeholders."