PETALING JAYA: The newly redeveloped Jaya Shopping Centre was officially launched on Monday. The 11-level shopping centre has a net lettable area of 270,000 sq ft with a development cost of about RM400 million.
According to Jaya Shopping Centre director Ismail Ani Arope, the developer Jaya Section Fourteen Sdn Bhd is committed to ensuring that Jaya supports the neighbourhood needs as well as drawing new businesses and employment to the area.
“What gave Jaya its heart and soul was the people. We want to capture the retail exuberance while maintaining a sense of familiarity. We want this to be a place that everyone can come to. It’s just a wholesome place, there’s a balance of everything,” he said.
Present at the ribbon-cutting ceremony was the mayor of Petaling Jaya Datin Paduka Alinah Ahmad and reigning Miss Malaysia World 2013, Melinder Bhullar.
Previously known as Jaya Supermarket, the building was first built some 40 years ago and is considered to be an icon of Section 14, and now, a part of the revitalisation of Petaling Jaya.
“Jaya supermarket was an icon but icons need to seek improvements, too. This is necessary in order to continue being relevant, especially with the change in times,” said the mayor.
“While we have fond memories of the Jaya of the past, the new Jaya is proof that it is possible to adapt to evolving demographics while sustaining, as well as enhancing, the vitality and viability of Section 14.”
The shopping centre has an 80% occupancy rate of which 70% comprises homegrown brands. They include Chapter One Bookstore, CIMB Bank Bhd, Hings Watch, Poh Kong, Poya, and Serai. Other retail outlets include established global chain operators such as Adidas, Best Denki, The Body Shop, Cold Storage, Paris Miki and Toys R Us.
Ismail said the shopping centre is expecting to welcome more tenants in the next four to six weeks. He is optimistic about the community’s response to the new shopping centre.
“For a new mall that has only been opened in stages and only for a month now, I would say that our footfall was admirable. We hit about 10,000 for one weekend and that was not bad actually. Of course, the number is fewer on the weekdays,” he said. “They are waiting for more outlets to open and I think we can expect to see the numbers go up as Hari Raya draws closer.”
Ismail said the developer hopes to open another residential shopping mall in the future.
“We are part of an investment fund, so yes we are always looking for investment opportunities. Whether or not it will be another Jaya or something different depends on the demographics and community in the area,” he said.
Jaya Shopping Centre is part of a portfolio managed by CIMB-MapleTree Management Sdn Bhd, a joint venture between CIMB Group Holdings Bhd and Mapletree Investments of Singapore.
This article first appeared in The Edge Financial Daily, on May 30, 2014.