With an expanding catchment area, +WOO has been redesigned to serve the community, with the functionality, safety and environmental considerations of the mall prioritised. To elevate the shopping experience, +WOO Phase 2 has been revitalized with an enhanced layout and inclusive facilities as well as interactive digital touches and recreational elements, making it a desirable destination for shoppers of all ages.

In an effort to mitigate the impact of climate change, Fortune REIT has proactively responded by committing to the Science Based Targets initiative (SBTi) – an international coalition of non-profit organizations and businesses promoting best practices for emission reduction in line with the Paris Agreement, which aims to limit global warming to 1.5 degree.

ESR is a supporter of the United Nations-supported Principles of Responsible Investing, and a signatory to the World Green Building Council’s Net Zero Carbon Buildings Commitment, committing to achieving net-zero carbon across its business by 2030. The Manager has implemented various initiatives to drive decarbonisation throughout the operations of Fortune REIT and works hand-in-hand with tenants and banking partners to achieve a more sustainable future.

Fortune REIT has been proactively engaging with our tenants to mitigate their environmental impact as part of our comprehensive sustainability strategy. This initiative encompasses a range of measures designed to enhance energy efficiency, reduce waste, and promote sustainable practices within our properties. For example, Fortune REIT has implemented advanced smart building management systems in major malls, optimizing energy usage and improving air quality. These systems facilitate centralized data collection and monitoring, enabling both Fortune REIT and our tenants to manage energy consumption more effectively.

As part of Fortune REIT’s on-going efforts to raise the public’s awareness of decarbonisation and to generate long-term value for its stakeholders, Farm@Fortune was unveiled on the rooftop of Fortune City One. Farm@Fortune is a green community project that creates local employment for farmers, promotes sustainable living practices in the community, environmental awareness, circular economy, social inclusion, green spaces and improved wellbeing; truly an integrated social value chain which reaps rewards.

In a bid to create a more inclusive and welcoming environment, several Fortune Malls have recently introduced a range of pet-friendly practices. Pet strollers are now available for rent at major Fortune Malls. These initiatives are designed to cater to the growing number of pet owners in the city, ensuring that both pets and their owners can enjoy a comfortable and enjoyable shopping experience. The move towards pet-friendly malls not only caters to the needs of pet owners but also fosters a sense of community and inclusivity, enhancing the overall shopping experience.

The Building Management and Building Optimization System has been rolled out at major Fortune Malls with an aim to improve operational efficiency as well as energy and cost saving by monitoring room temperatures, indoor air quality and footfall, raising the alarm when pipes are leaking and blocked, and detecting smoke and fires.

To streamline carpark operation and improve customer experience, a new license plate recognition technology-based access control system and a mobile application for payments was introduced at Ma On Shan Plaza and Metro Town during the Reporting Year. The new system can recognize the registered vehicles based on their license plate and allows both monthly and hourly parking payments to be settled electronically via the Fortune Malls App, providing our customers with a seamless experience.

As part of a wider training initiative driven by ESR, a series of training on various compliance topics was rolled out to all employees to refresh their knowledge on the relevant laws, regulations and internal controls that apply to their day-to-day job responsibilities, reduce organizational risks and boost our stakeholders’ confidence in our business and operations.

In its effort to tackle waste, Fortune REIT has also rolled out various waste reduction initiatives including food waste collection, the installation of food waste compost machines, the Recycling Fund’s Reverse Vending Machine and Beverage Carton Smart Recycling Machine in its malls. Together with the support of its tenants and shoppers, Fortune REIT is making meaningful steps to reduce its environmental footprint and to promote sustainable practices in the community.

To combat the threats presented by COVID-19, Fortune REIT’s priority remains to provide a healthy and safe environment for shoppers, tenants, employees, and the communities it serves. This case study explores how Fortune REIT supported its stakeholders through this challenging time by adopting the use of technology and innovative practices.