Platinum Victory’s new commercial hub in Setapak ready for new normal

This article first appeared in The Edge Malaysia Weekly, on May 11, 2020 - May 17, 2020.

Clockwise from above: Complimentary outdoor parking bays and tenants Inside Scoop and Good Luck Kopitiam at The Palette

Pictures by Chung Ying Yi/The Edge

Gan: Platinum Victory Holdings has been working closely with the tenants to deal with this situation

Photo by Platinum Victory

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The Movement Control Order (MCO) imposed since March 18 has affected the retail sector, including the business operations of The Palette — the latest commercial hub of Platinum Victory Holdings Sdn Bhd — which opened its doors in January.

Located close to the PV 12 Platinum Lake Condominium, Taman Tasik Danau Kota playground and Danau Kota Lake in Setapak, Kuala Lumpur, The Palette has achieved an occupancy rate of 90%. So far, none of its tenants have terminated their tenancies.

“We are currently going through a tough time, whereby tenants have to adapt to the new normal and practise social distancing. To mitigate the effects of the MCO, the company has been working closely with the tenants to deal with this situation,” Platinum Victory Holdings group executive director Gan Yee Hin tells City & Country in an email interview.

“In this respect, we have introduced a ‘curbside pick-up service’, whereby customers can order their groceries online or call in for food takeaways and then drive to the location to pick up their orders without having to leave their cars. This limits the contact between the customers and tenants.”

Occupying a 7.4-acre parcel, The Palette has a net floor area of 110,000 sq ft. The commercial and social space has 17 retail lots, four of which are 2-storey units and the rest, 1-storey units.

Tenants of the hub include AEON BiG, McDonald’s, Chi-Ji Chicken Cutlet, Good Luck Kopitiam, Inside Scoop, Yomie’s Rice × Yogurt, Kyakushi Japanese Skewer, Lanzone Hair Care, myNEWS.com, TCW Kitchen & Bar and San Francisco Coffee. Some of the retail lots are still under renovation and will be fully operational by the second quarter of the year.

AEON BiG, the anchor tenant, occupies 55,116 sq ft while the built-ups of the rest of the lots range from 404 to 2,700 sq ft. There are 261 complimentary outdoor parking bays for cars and 91 for motorcycles.

Platinum Victory Holdings’ theme this year is “Going back to our roots”, as Setapak is the place where it was established. “We intend to develop a commercial space that suits the local dwellers in Setapak and attract residents from the surrounding areas such as Wangsa Maju, Taman Melati, Taman Melawati, Titiwangsa, Batu Caves, Gombak, Setiawangsa and Sentul,” says Gan.

The commercial hub is near shopping malls such as M3 Shopping Mall and Setapak Central; healthcare centres, including Columbia Asia Hospital; and educational institutions such as SK Danau Kota, SJK(C) Mun Yee, SMK Danau Kota, SMJK Chong Hwa, Sri Utama International School and Tunku Abdul Rahman University College.

According to Gan, the design of The Palette’s retail units utilises concepts from detached residential and retail properties, with natural lighting and ventilation to reduce energy consumption and maintenance costs as well as to lower capital expenditure.

The Palette derives its name from the flat surface or board on which a painter arranges and uses a wide range of colours and this is in line with the development’s tagline of “Let’s Mix”, he explains.

Gan says the commercial hub was built with the community in mind. “We have prioritised socialising with shopping and blended a variety of retail, dining and entertainment tenants. Having a diverse tenant mix is crucial to improving the customer experience, driving repeat visits and increasing the time customers spend here.”

Food and beverage outlets, in particular, play an important role in shopping malls and commercial hubs, creating a place to share quality time with family and friends. “This is because people nowadays like to and are willing to spend on meals or drinks in restaurants or cafés with nice ambience,” Gan says.

The Palette has al fresco dining areas to offer an urban leisure experience, Gan points out. “We aim to encourage other market players to emulate and take inspiration from our commercial hub, which was developed to create a space for the local community.”

In terms of connectivity, the development is easily accessible via major roads and highways such as Jalan Langkawi, Jalan Cengal Selatan, Jalan Gombak, Jalan Genting Kelang, Middle Ring Road 2 and Duta-Ulu Kelang Expressway, which will be linked to the upcoming Setiawangsa-Pantai Expressway (DUKE 3).