Hektar Asset Management Sdn Bhd (Hektar REIT) has planned to install solar panels in its shopping malls in four states in Malaysia.
Hektar has planned this installation to reduce total energy costs of the company.
According to Johari Shukri Jamil, chief executive officer of Hektar Real Estate Investment Trust, Hektar REIT, “It’s important to address the electricity usage, as it makes up a large portion of our utility bills. It represents about 89% and we spent about RM19.3 billion on electricity alone last year.”
The company informed that Hektar REIT has 2 million square feet of retail space. The assets are worth RM1.2 billion.
The portfolio includes Mahkota Parade in Melaka, Subang Parade, in Selangor, Wetex Parade, and Classic Hotel in Muar, Johor, Kulim Central in Kedah, Central Square in Sungai Petani, Kedah, and Segamat Central in Johor, the company informed.
The company has invested RM10 million in different initiatives to reduce energy consumption.
According to the company, it aims to achieve an occupancy rate of up to 86% for its portfolio in FY2023.
