Melaka's new RM2b landmark

KUALA LUMPUR: Hatten Group Sdn Bhd is stamping its mark in Melaka with a RM2 billion mixed commercial development known as Hatten City.

"The 20-acre project will be the largest new development in the historical city," said Hatten Group managing director Colin Tan.

The project is situated just 2km from Dataran Pahlawan Melaka Megamall in Melaka Raya, currently the largest mall in Melaka, also by the developer.

To be developed over two phases, the first phase comprises 800 retail units, 700 residential units and two hotel towers. The retail units with built-ups between 120 sq ft and 2,000 sq ft will be housed over levels 1 to 4 and priced between RM1,200 and RM1,500 psf. Called the Elements, the retail portion occupies some 2.4 million sq ft gross floor area and 1.5 million sq ft of net lettable space. The first phase will be launched on Friday, Apr 29.

"We plan to sell 40% of the retail units while the remaining 60% will be kept for recurring income. We believe we can gain investors' confidence that way because as the developer, we will be managing the mall," Tan told The Edge Financial Daily.

The residential component known as Silverscape will comprise two 45-storey blocks offering 350 units per block. Tan said there will be studios to 3-bedroom units with built-ups from 460 sq ft. Facilities include an infinity pool, a gymnasium and function halls.

Meanwhile, two international hotel operators will be running the hotels separately. A groundbreaking ceremony for Hatten City and a signing ceremony between the developer and one of the hoteliers is scheduled to be held this weekend.

The second phase will consists of three blocks of condominiums with 1,300 units, 20 seafront villas, a three-acre high-end street mall, six levels of offices and a 33-storey corporate tower. It also features a 300-room Hatten Resort featuring a man-made seafront. The entire Hatten City is expected to be completed by 2019.

Hatten Group's first project in Melaka was to revive the previously abandoned Dataran Pahlawan in 2004. It is currently completing the RM150 million Hatten Square, a mixed development located opposite Dataran Pahlawan.

The commercial section has been completed and opened for business since February while the Hatten Hotel within Hatten Square is expected to be completed by end December. The 710-room hotel will be the largest four-star hotel in Melaka, said Tan.