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Monday, April 20, 2009

Hatten plans Ginza-like district in Malacca

Hatten Group, a local property developer, plans to turn the Bandar Hilir area in Malacca into a commercial district the likes of Ginza, Tokyo's classiest commercial centre.

It is developing "Hatten Square", an upmarket commercial project located in the vicinity of Melaka Tengah and Melaka Raya. It features a four-star hotel with 260 rooms, 490 suites and 1,500 parking bays, and a mall with 200 retail units.

Construction has begun on the RM150 million project, with full completion scheduled for the third quarter of 2011. However, the 1,500 parking bays and the 200 retail units will be ready by December this year.

Hatten Group executive director Collin Tan said the successful completion of Phase 1 and 2 of Dataran Pahlawan, a new retail, entertainment and gourmet centre in Bandar Hilir, had resulted in the constitution of Hatten Group as a holding company for a group of companies with a unified vision to continue expanding in the area.

"To be located near Dataran Pahlawan Melaka Megamall and Mahkota Parade, the proposed shopping mall will carry exclusive luxury brands targeted at the upper- and middle-income group together with sidewalk cafes and alfresco dining.
"We hope that this new mall would turn this area into the 'Bukit Bintang' of Malacca," he said, referring to the famous shopping and entertainment strip in Kuala Lumpur.

Occupying 6.25ha , Hatten Square Suites & Shoppes will contain the hallmark of quality and innovation that buyers whom have long been associated with Hatten Group will recognise.

"Apart from the retail units, the 22-storey building will comprise 270 hotel rooms and 490 premier suites with common hotel facilities such as an extensively designed swimming pool, a spa, a gym, a ballroom and 1,500 parking bays built with the intention to cater to business travellers and families on vacation," he said.

Hatten Group plans to sell 40 per cent of the retail units at prices starting from RM180,000 per unit, and keep the rest as investment, implementing a similar development strategy practised in Dataran Pahlawan Megamall.

"Upon completion of the project, the value of the properties is expected to appreciate by 20 per cent per year," said Tan.

He added that Hatten Square will further complement the Bandar Hilir area by being the tallest building in Malacca, with good visibility of the historical city.

Other factors going for the proposed project are that the area has a ready population of 400,000 people and is easily accessible from Jalan Laksamana, Coastal Highway and Jalan Tun Razak (Lebuhraya AMJ).

"To ensure that all patrons to Malacca are able to enjoy and experience a comfortable and hassle-free shopping atmosphere, we are building a 17m wide air-conditioned two-tiered link bridge to connect the Square to Dataran Pahlawan Megamall and Mahkota Parade.

"This has been designed to add vibrancy and colour to the Bandar Hilir area, commonly known for its busloads of tourist arrival to the neighbouring historical sites and shopping malls," said Tan.

By Business Times (by Gomathy Ramasamy)

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