PETALING JAYA (Oct 4): Jaya One will reopen The Square — formerly known as The Palm — by December this year with an integrated concept of office, shoplot and art performance venues.
As part of the Jaya One mixed development in Section 13, Petaling Jaya, The Palm was closed in March 2018 for the RM15 million renovation project.
“Jaya One was one of the pioneer developments around Section 13 which began in 2008. Since 2015, our neighbours have also moved on to capitalise on this amazing location, with new developments sprouting around us. We realized that we are no longer a standalone and that Jaya One has to also change in a complementing way to keep ourselves relevant,” said Bina Tetap Tiara Sdn Bhd executive director Charles Wong at a media briefing on The Square at Jaya One today.
Bina Tetap Tiara is a subsidiary of Jaya One developer Tetap Tiara Sdn Bhd. The 75,000 sq ft The Square was previously occupied by eateries and restaurants within eight commercial bungalows with a total gross floor area of 110,000 sq ft.
“The Square is expected to encompass 45% offices, 40% F&B outlets while the remaining 15% will be filled by PJ Live Arts, a vibrant neigbourhood performance venue by Jaya One,” said Wong.
He explained that The Square will operate around the basis of four championing points – entrepreneurial lead, late-night dining options, pet-friendly and urban farming. It will also house co-working space, Common Ground. Functioning on two floors, Common Ground will be operating a 21,000 sq ft facility at The Square, and the ground floor will be earmarked as pet-friendly.
The Square will also initiate an urban farming project with home growers.
“We also look forward to working with NGO’s and local governments in the near future, in order to develop this ambitious project in a sustainable manner,” said Wong.
Once fully operational, The Square will be able to accommodate 13 office lots ranging between 500 sq ft to 3,600 sq ft on the first floor and 15 lots on the ground floor. It has already achieved 75% tenancy to date.
“Only one former tenant of The Palm remained. The rest are new tenants which I think is encouraging, during such a slow time for commercial property,” Wong told EdgeProp.my on the sidelines.
All the office units are only available for rent. Monthly rental for the units on the first floor will be RM4 to RM5.50 psf and available from December 2018 onwards. The rental for retail shops in the ground floor is between RM8 to RM10 psf.