Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), has partnered with GMA Resources Sdn Bhd (GMA) for electric vehicle (EV) charging bays in Malaysia.

This initiative involves the installation of 13 Electric Vehicle (EV) charging bays across six shopping malls in Hektar REIT’s portfolio commencing from 1 January 2024, Hektar REIT said in a statement on Monday.

In the retail landscape that continues to adapt to changing consumer behaviors and global challenges, such as climate change, the firm said the installation of EV charging bays presents an innovative move to stay ahead of market demands.

It said that this initiative represents not just an alignment with the global move towards green energy but also a concrete step in the firm’s robust Environmental, Social, and Governance (ESG) initiatives.

According to the statement, these charging bays represent an upgrade to the existing bays across the portfolio based on their latest technology aligning better with Hektar REIT’s commercial and sustainability goals.

The firm is also introducing an additional bay which will be the first of its kind at our shopping mall located at Segamat Central in Segamat, Johor, fortifying the REIT's commitment to bringing greener options to diverse and under-served geographical locations.

“After three decades in the energy sector, we are thrilled to embark on this EV charging bays collaboration with Hektar REIT, aligning with their energy transition efforts to champion a sustainable environment,

“It further underscores our belief that the renewables & EV sector will emerge as vital components of our portfolio and we look forward to future innovation opportunities in this space,” said Johan Azman Ghaus, Director of GMA Resources Sdn. Bhd.

In alignment with Hektar REIT’s unwavering commitment towards ESG goals, Hektar REIT said a key part of this collaboration centers on enhancing the portfolio’s sustainability credentials.

It said the introduction of these EV Charging Bays not only promotes the adoption of green transportation options but also strengthens Hektar REIT’s appeal to a growing demographic of environmentally conscious shoppers and loyal patrons.

“We are thrilled to announce our collaboration with GMA. This partnership amplifies Hektar REIT’s dedication to pioneering the future of transportation, ensuring unparalleled convenience and championing sustainability for our valued patrons,” said Johari Shukri Jamil, Executive Director and Chief Executive Officer of Hektar Asset Management Sdn. Bhd.

According to him, these new EV charging bays signify more than just infrastructure as they represent Hektar REIT’s pledge to nurture greener communities and drive innovation in retail experiences.

“With these new EV charging bays, we aim to make every shopping trip a little more convenient, ensuring our EV-driving patrons feel right at home while they shop, dine, and recharge – both their cars and their spirits,” he said.

As part of the firm’s larger mission to champion environmental responsibility, he said Hektar REIT is committed to rolling out even more sustainability-focused initiatives in the near future.

“Our aim is to tangibly reduce our carbon footprint, ensuring that our malls aren’t just places of commerce but hubs of green innovation and community partnership. Stay tuned as we continue our journey towards a greener tomorrow,” he said.

Hektar REIT is Malaysia’s first listed retail-focused REIT. The firm currently owns 2 million square feet of retail space in four states with assets valued at MYR 1.2 billion ($250 million) as at 30 June 2023.

Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd.

Hektar REIT’s portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor.

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