Property developer Hatten Group has ventured into Malacca, historically known as the most important port in the southern region of the Malay Peninsula, with the development of Hatten Hotel, a 22-storey, business-class hotel. Other projects that Hatten is involved with in Malacca include a total gross development of
Property developer Hatten Group has ventured into Malacca, historically known as the most important port in the southern region of the Malay Peninsula, with the development of Hatten Hotel, a 22-storey, business-class hotel.
Other projects that Hatten is involved with in Malacca include a total gross development of US$790 million (RM 2.5 billion), which consists of two hotels, five apartment blocks and three malls. Colin Tan, MD of Hatten, indicated that 50% of the development has been completed, and the group is on track to complete Phase 1 by December 2014.
According to Invest Melaka, a state government initiative focusing on promoting business, the state of Malacca has been booming for the past 10 years and has successfully stimulated economic activities, with an average increase of 5.8% in GDP. Another government official highlighted that the state was targeting new markets, like the Middle East and Africa, to attract more tourists, and the state government is confident in achieving this year's target of 14 million tourist arrivals, compared to 13.7 last year.