This article first appeared in City & Country, The Edge Malaysia Weekly on November 13, 2023 - November 19, 2023

TA Global Bhd will soft-launch its latest high-rise serviced apartment development named Amaya Residences in Bandar Sri Damansara, Selangor, this month. The development will be located on top of the upcoming DA Central Mall.

Both the serviced apartments and the mall will be part of the larger 48-acre Damansara Avenue mixed-use development, which will be developed in two parcels. Parcel 1 will be spread across 26.55 acres, while Parcel 2 will occupy 21.51 acres. To date, around 11.69 acres of Parcel 1 have been completed.

The completed projects in Phase 1 are Ativo Plaza (5.73 acres), Azelia Residence (3.13 acres) and Ativo Suites (2.83 acres). All three have been fully sold.

The final component of Parcel 1 will be ­Ativo Annexe, a 14.86-acre mixed-use development. Amaya Residences and DA Central Mall are part of Ativo Annexe, which will have other components including offices, a hotel and a wellness hub.

As Damansara Avenue is a transit-oriented development, DA Central Mall will have a covered walkway connecting the apartment and mall to the Sri Damansara Sentral MRT station, says TA Global CEO Tiah Joo Kim in an exclusive interview with City & Country.

Amaya Residences, which has a gross development value (GDV) of RM1 billion, will feature two 68-storey residential towers with a total of 1,268 units. Each tower will house 634 units. The units will have built-ups of 539 to 1,230 sq ft and are priced from RM553,000 to RM1.35 million each. The maintenance fee inclusive of sinking fund is an estimated 45 sen psf per month.

According to Tiah, Amaya Residences’ design concept was inspired by a modern Japanese architectural philosophy — simplicity. “We are aiming to create unique living spaces, with a focus on simplicity and a careful choice of natural materials as well as neutral colour palettes to set the stage for a serene ambience.

“The towers are designed as a series of frames, stacked one on top of the other in a staggered fashion. This creates a dynamic and visually interesting façade, while also providing residents with framed views of the surrounding city and landscape. The height and building silhouette are a statement to the surrounding area and will become a new landmark in Bandar Sri Damansara’s vicinity,” he adds.

Tiah says Amaya Residences will incorporate biophilic design principles by using materials such as stone and wood finishes for the exterior.

The landscape is an essential element of the development, he elaborates. “Although our projects are located in a more urban location, we wanted to give our customers an escape from the hustle and bustle of city life. A serene environment is what we are going for, so we designed Amaya Residences as an urban resort surrounded by aesthetic landscapes, similar to a tropical resort.”

He says the landscape will feature indigenous and tropical plants as well as a green pathway with tree groves at the podium level. “Over time, these plants will mature and naturally form a living barrier that both separates the development from its surroundings and enhances the overall greenery of the area. This nature-inspired design philosophy extends to the residential towers’ façade, which showcases a palette of rich, earthy tones.”

The GreenRE-certified Amaya ­Residences has many green features, including electric vehicle charging stations, optimal thermal design, energy-efficient lifts and LED lighting, a rainwater harvesting system and low-irrigation landscaping.

Tiah says the project, which is poised to become one of the neighbourhood’s tallest residential towers, has more than 100 facilities, including “sky facilities” that offer scenic views of the city. Other amenities include pet-friendly spaces, an infinity pool, a badminton-cum-pickleball court, gymnasium, Jacuzzi, sky lounge, bar and dining area, barbecue area, 60m lagoon pool, scooter park, futsal-cum-basketball court, children’s treehouse, mahjong room, laundry, locker station, mail room, powder room and delivery collection station.

He explains that the developer decided to provide more facilities based on feedback from buyers and residents of its previous developments in Damansara Avenue. “We always try to learn from our previous projects, which is why we stay in touch with the joint management body and the management company of Ativo Suites. Therefore, we know what’s popular and which facilities are always fully booked.”

DA Central Mall, on the other hand, will be spread across five storeys, with a net lettable area of 420,000 sq ft. Tiah says the mall’s façade will also have stone and wood finishes to match ­Amaya Residences’ exterior. Both developments will have eights levels of parking bays in total but with separate entrances.

Besides offering various retail and dining options to residents of Amaya Residences, Tiah hopes the mall will also become one of Damansara Avenue’s focal points.

Damansara Avenue was designed to cater for the neighbourhood’s needs, says Tiah. “The entire master plan is well-thought-out, well-planned and well-designed. When you build that big, you have to create an environment where people want to live. You can’t just build a bunch of houses and expect people to live there. So, that’s what we’re doing, building something that would cater to the community in the neighbourhood.”

The same theory was applied to Amaya Residences, he adds. “In the past or during my parents’ generation, owning a landed property was the norm. But now, it is a lot more expensive to do that and your lifestyle is pretty much compromised if it is a standalone development.

“I also find that the younger generation is not too keen on that idea any more. They would rather live in a home that offers facilities that suit their lifestyle and be within close proximity of their workplace rather than living further away from the city.”

In addition, Tiah says the developer’s primary target market is owner-occupiers such as young and mid-level professionals, young families seeking to upgrade, first-time homebuyers, empty nesters and retirees as well as investors.

Upon completion of Ativo Annexe, Tiah says the developer will start working on Parcel 2, which is expected to have components such as an arts centre, a sports complex and a few more towers.

He shares that TA Global is ready to roll out more launches next year. “Next year is going to be an exciting year for us as we will be launching several projects with a combined GDV of RM4.11 billion.”

They include Idaman Hills Phase 3 one-storey terraced homes in Kluang, Johor, the much-anticipated TA3&4 mixed-use development in Kuala Lumpur city centre as well as Idaman Heights Phase 1 two-storey homes in Bukit Beruntung, Selangor.

TA Global’s sales target for FY2024 (for its financial year ending Dec 31, 2024) is RM950 million, Tiah says. In order to achieve that, he stresses, the product must be of high quality before anything else. “As good a sales team as you may have, you still need to have a good product. It starts on day one when you first think about what you want to build. We need to be thorough, see what the market wants, what the competitors are doing, be original and have an insatiable desire to be the best.

“We know a home is a big deal, people save their entire lives for a home. So when we want to put out a product, we put ourselves in the shoes of a purchaser to gauge what they want. I think when you have incorporated that culture in your company and with your staff, you will get the product right.”

Tiah reveals that the developer has a remaining land bank of about 1,500 acres, with a total estimated GDV of over RM20 billion, for new projects over the next 10 to 15 years.

In the hospitality segment, TA Global launched the Paradox collection of hotels and resorts in March last year. Tiah says Paradox is a Canadian-born boutique hospitality brand inspired by the tastes and desires of a new generation of travellers.

“The brand is set to stand out from traditional hospitality norms through a series of quirky, cultured and highly experiential offerings, capturing the true spirit of each city where a Paradox hotel is located.

“Our aim is to be the local champion. In every country or region we’re in, we want our team and management crew to be tied in with the local community. Generally, when people go to a hotel, they want the assurance of quality and service. An additional thing they look for is to experience the local culture.

“They don’t want to go to another country but experience the same hospitality service as from their home country. To cater to that, we give the team and general managers in different regions the flexibility to customise designs, interiors and even staff uniforms to fit the local culture.”

According to Tiah, six of the developer’s hotels have been rebranded as part of the Paradox Hotel Group — Paradox Hotel Vancouver, Paradox Resort & Residences Phuket, Paradox Singapore Merchant Court, Paradox Kunshan, Summit Lodge Boutique Hotel and Aava Hotel in Whistler, Canada. 

Paradox Hotel Group is the parent company of the Paradox brand, which Tiah explains is a luxury brand. Also in the Paradox portfolio are independently branded properties Summit and Aava. Summit has a quirky and fun design whereas Aava has an outdoorsy concept, he shares.

With regard to the hospitality industry’s performance, Tiah says it had a pretty good run overall, especially after the pandemic.

Despite that, he admits that the business landscape is tough for rookie brands. “The hotel industry is very mature so it’s difficult to compete with the big boys. When you want to expand a new brand and people don’t know who you are, that’s what makes it difficult to move in the industry.

“Hence, for the next five years or so, we want to focus on solidifying our hotels, making sure the experience, branding and level of the product is at a stage where we want it to be. After we achieve that, the next stage would be approaching third-party owners to sign with us.”

Tiah says the developer has plans to own and operate more hotels in the future, once the brand has solidified. “We are also planning to launch the brand in Malaysia, along with several other global properties in the pipeline, within the next 10 years. Some locations we’re looking at are Kuala Lumpur, Thailand and Australia, among others. We’re also going to venture into territories that we’re familiar with.”

On his outlook for the local property market, Tiah believes it will grow at a steadier pace. “There is always a lot of supply in Malaysia’s property market, so it’s always very competitive because buyers have choices. It’s also very price sensitive with the ringgit dipping recently.

“But despite everything, we Malaysians are very resilient. Developers here are really good because they’re very resilient and understand the market well. Products are often crafted in a way where they’re innovative and also attainable at the same time. Thus, I don’t see a slowdown happening anytime soon.”

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