While most are aware of the variety of lifestyle options available at Jaya One, investors are in for a treat with the construction of Jaya One’s New Phase throws residential units into the mix in addition to new commercial and retail spaces to be built. iProperty sat down with Charles Wong, the Executive Director of Jaya One’s developer, Tetap Tiara Sdn. Bhd., and got the lowdown on the New Phase.

iProperty:  When Jaya One was first developed, were there plans afoot for residential units?
Charles Wong (Tetap Tiara): It was definitely a planned development for different phases as Jaya One includes two phases.

The first phase, launched in 2008, comprises of four blocks of 8- and 9-storey shop lots and commercial offices and one purpose-built office block, all totaling 221 units of commercial office space and 55 units of ground floor retail units. The commercial office and ground floor retail space covers a gross build-up area of around 729,000 square feet and a net build-up space of around 636,000 square feet.

The new phase will consist of 5 storeys of retail space, 5 storeys of office suites and 18 storeys of 2- and 3-bedroom residential units and 4 storeys of 1-bedroom residential units.

iP: How has the response been for the new commercial and retail space?
TT: By the time we launched it to the public in late October, there was less than 30% of both commercial and retail space left for sale.

iP: What is the driving force for the pricing of the retail section from RM850 psf?
TT: For a mixed development, most retail consultants would advise against a partial sale of the development due to the lack of control the developer would have in terms of tenant mix and operations when the development is built.

At Jaya One, we have demonstrated that this model could be successful by allowing market forces to set the tone but not dominate the scene. What we have is a strong sustainable relationship with the tenants and individual owners by putting in more effort and working harder to make it work.

iP: What will the GDV for the New Phase be for investors?
TT: The Gross Development Value for the New Phase is RM 360 million for the portion of the development that the company is selling.

 iP: Will you be retaining any part of the project and what will be open to investors for the New Phase?
TT: We will be retaining 250,000 square feet of retail space for recurring income, as we did with Palm Square, which comprises mainly food and beverage outlets in the first phase of the project. The shopping centre will be retained with other spaces sold. The sold retail space will be designed to form part of the shopping centre and customers will not see the difference between the sold units and the retained units, a value-added feature that we have provided for our purchasers.

iP: Noting that the new development is just above Cold Storage, will this impact its current operations and the safety of its patrons?
TT: As mentioned before, we had planned for this New Phase when we first developed Jaya One and the foundation and groundwork are already in place to tremendously reduce noise, dust and disturbances to the existing occupants of Jaya One. This automatically reduces the amount of construction workers at the site, ensuring cleanliness and safety for our customers are not affected.

We have engaged in countless dialogues with our contractor, Al-Ambia Sdn Bhd,a very experienced contractor themselves, to keep disturbance at a minimum and safety and cleanliness at a maximum. We believe that our strong alignment of goals and targets with them benefits the general public who come to Jaya One looking for a good, relaxing time.

iP: With the New Phase being your only residential offering in the whole development, what sets your project apart from other residential offerings in the area?
TT: Our pricing of the residential offering is something which is still one of the most affordable in the market. We leverage on the existing matured community that we have fostered through the existing phase and create an economy within Jaya One that fuels the success of the New Phase. The added benefit of Jaya One’s main road frontage provides easy accessibility and visibility that is simply unparalleled.

iP: What are the strategies adopted or in place to achieve Malaysia’s Green Building Index (GBI) status?
TT: The indices to obtain GBI status offers a buffet of options for a developer to choose from, all depending on the rating that the developer wants to achieve. Jaya One has already mapped out the key indices that we desire to implement and we will be aiming for the Silver rating. The indices chosen were driven by the twin objectives of minimizing operational costs and improving the interaction of the space with the way people use it.

That said, achieving any GBI status is not easy as it comprises many components including Civil & Structure, Mechanical & Engineering, Architecture, Construction Site Management and Innovation. Among the things that we are considering to maximize our points include energy and water efficiency, proximity to amenities, activation of recycling initiatives and green construction methods.

iP: What are the other amenities or facilities provided that will add value to the residents living there?
TT: As our development caters to a dynamic growing market, Jaya One’s New Phase is targeted at mainly Malaysian buyers. That is the reason why we create spaces that provide the platform for growth yet enable them to remain with us at Jaya One if they choose to do so.

As an example of this, our residential project is designed and priced not only for affordability, but also for ease of use and livability. Whether you are an owner or a tenant, it is tremendously easy to use the space because of the availability of existing facilities and newer amenities which will be in place upon completion of construction. Our emphasis on the quality of space rather than compromising it with as many compartments as possible adds freedom to the living experience of our residential units. What we have done is simplifying things by recognizing the customers who will use the space eventually.

This design approach combines contemporary chic with simplicity to encourage interaction of the internal elements with the external environment. Other key driving principles like facilities, location and property management were then created based on the understanding of the aesthetic and practical demands of the life cycle needs of businesses, aspiring young professionals or young families.

Charles Wong
Executive Director, Tetap Tiara Sdn Bhd.

Noted for his youth and dynamism, Charles was only in his late-20s when he was first tasked with developing Jaya One’s initial phase, he is also a very hands-on person. While most would expect an Executive Director to be ensconced in the ivory tower of board rooms, Charles challenges perception by checking on the landmark development of Tetap Tiara on his bike and talking to various patrons about the development. It definitely explains the outlook of Jaya One that adds colour not only to an area renowned for its industrial buildings but also into the lives of those living in PJ through its various lifestyle options.