Edited by: Sheera Abg Mansor
KUALA LUMPUR: Hektar Real Estate Investment Trust (Hektar REIT) is on track to double its portfolio asset located outside Klang Valley, value to RM2.4 billion by 2026.
As of today, the REIT’s asset value stood at RM1.2 billion following its acquisition of Segamat Central, catering to a market catchment of three million shoppers.
Chief executive officer Datuk Hisham Othman as quoted in New Straits Times said their clear focus in terms of geographical asset diversification has proven effective in mitigating the negative exposure of economic downturns in the last few years.
Believing in strategically select the location of their assets to secure their success, the firm brought in new local and international brands and retailers to the area to tap on the stable purchasing power in smaller underserved cities.
Hisham said the firm is expected to hold up in this year and will continue to focus to improve its shopping centres under its portfolio which include asset enhancement initiatives, energy saving initiatives and extensive tenancy remixing and reconfiguration of lettable space.
Source: New Straits Times