Hatten Land recently announced that it is rebranding its existing Elements Mall in Melaka, Malaysia, to Element X. The mall will be reconfigured into Southeast Asia’s first large-scale integrated esports experiential hub and metaverse gateway. The hub will include a themed hotel, an esports arena, and pro-esports facilities. The mall is located along the straits waterfront and has a gross floor area of 1.88 million square feet of retail space across 13 floors.
“With its rapid growth and popularity, esports is shaping up to be the new nexus of sports, media, and entertainment, selling out venues and drawing massive audiences for televised and online events,” said Dato’ Colin Tan, executive chairman and managing director of Hatten Land. “At the same time, Element X can leverage on the metaverse trend to create new frontiers and utility for lifestyles, communications, and businesses ahead, creating the linkage between the physical world and the digital world,” he adds. “As interest and attention continues to build for the metaverse and esports industry, we aim to build and expand the infrastructure necessary to deliver the best metaverse and esports experience possible for fans and professional players not just in Malaysia, but across the world.”
According to Hatten Land, it is in the advanced stages of discussions with various established partners in the metaverse, esports, mobile gaming, and digital-related industries.
At the same time, Hatten Land will be undertaking a share placement exercise to raise some $5.0 million. Under the placement agreements, Hatten Land will allot and issue a total of 121.95 million new ordinary shares at an issue price of 4.1 cents per share to ten subscribers or places.
(All information was provided by The Edge Singapore)
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