Hatten Land has announced that its wholly-owned subsidiary Prolific Revenue has on July 7 entered into a sale and purchase agreement (SPA) to sell land in Melaka for cash consideration of RM25.8 million ($8.3 million).
The leasehold vacant land measuring 3.781 hectares was originally slated to be developed into an integrated mixed development that will comprise a shopping mall, cineplex, convention hall and auditorium, meeting rooms, a hotel block and a serviced apartment block.
As of July 7, the project has yet to commence. Given the disposal, Hatten Land says it will no longer be proceeding with the project.
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