By Property365.my August 23, 2016 All
i-City is an fully integrated development across 72 acres of land in Section 7, Shah Alam. i-City is master planned by world-renowned and award-winning architect Jon A Jerde to be the next ICT-based urban development in Malaysia.
i-City has been approved as a Tourism Destination by the Ministry of Tourism and has been declared as an International Park by the Selangor State Government, where entertainment and cosmopolitan outlets are permitted to operate 24 x 7.
Shah Alam – good location to invest in?
Shah Alam has expanded vastly since 1963 when it was largely oil palm and rubber estates. Now, its commercial and residential areas comprise 56 sections, divided into Shah Alam north, central and south. The older, northern parts cover 18 sections, including Kampung Melayu Subang and U1, while central Shah Alam has 25 sections (Sections 1 to 24) and is where most of its government agencies are located. In the south, there are 12 sections and newer townships, including Kota Kemuning and Bukit Rimau.
Shah Alam is also home to major landmarks including the Sultan Salahuddin Abdul Aziz Shah Mosque (also known as Blue Mosque), the Sultan of Selangor’s Palace, Perpustakaan Tun Uda (the largest library in Selangor), Muzium Sultan Alam Shah and Shah Alam Stadium. Educational institutions including the Management and Science University, Universiti Teknologi Mara and KDU University College are located here as well.
Shah Alam is a well-planned city, and is less dense compared with areas like Subang Jaya, Sunway and Puchong. On top of that, Shah Alam has abundant facilities and many government agencies are within easy reach. The Shah Alam local council does not allow the establishment of alcohol and entertainment outlets here, with the exception of i-City.
i-City has an estimated gross development value of RM9 billion and it comprises corporate, residential and leisure hubs developed by I-Bhd. The development is estimated to be fully completed by 2020. The Leisure Park at i-City has several attractions including SnoWalk (a 50,000 sq ft arctic environment with ice sculptures), City of Digital Lights, FunWorld (featuring Malaysia’s first wax museum) and WaterWorld. The 24-acre theme park draws approximately 90,000 visitors weekly.
The development of i-City will benefit neighbouring Klang, creating a satellite township, much like Petaling Jaya and Subang Jaya which have merged to become one large entity. Shah Alam property is likely to produce healthy gains over the long term and factors such as the Bandar Utama-Klang LRT3 line (there will be an LRT station at i-City) and DASH (Damansara–Shah Alam Elevated Expressway) will contribute to this growth. Additionally, Shah Alam has one of the highest populations in Selangor, therefore property demand and job opportunities will constantly be available.
What’s in i-City?
i-City is a self-sustaining, fully integrated centre for business, leisure, tourism and beyond! These components are within a 5-minute drive from Hyde Tower @ i-City, the latest and last residential tower in the Icona series (Parisien, Liberty and Hyde) for i-City.
Homes in i-City: Perfect for young adults
I-Bhd marketing director Monica Ong said that most of i-City’s target markets are young adults and I-Bhd’s properties are attractively priced and in an attractive location that has theme parks and tourist attractions, including the upcoming Central i-City Mall, which is scheduled for completion in 2018, the same year that Hyde Tower will be completed.
Previous two projects in i-City, namely i-Residence (346 residential units and 20 exclusive duplex-triplex villas) and i-SoVo (220 small office versatile offices) were also fully sold before they were handed over in 2015 and 2016 respectively.
Converse @ i-City – Upcoming automated smart homes
The new phase of the residential development project in i-City, to be launched in April 2017, will allow auto control of homes as it is linked to “Alexa”, the cloud-connected AI (artificial intelligence) that powers Amazon Echo, and helps owners with a simple voice command. Home owners can interact, ask questions and retrieve information from the Internet by asking Alexa. All the apartments would come fully-fitted with this technology.
The best starter investment with fantastic rental potential
About the developer
I-Berhad was established on February 2, 1967 as Sanyo Industries (Malaysia) Sdn Bhd and listed on the Main Market of Bursa Malaysia Securities Berhad on September 29, 1969. Over the next three decades the company operated as a branch of Sanyo Japan, focusing on the manufacture of electrical home appliances.
In 1999, Sumurwang acquired a controlling interest in the company and changed its name to I-Berhad. Following the adoption of a new vision of serving the Digital City, the Company moved from being a manufacturer of air-conditioners and digital products to become the leading Digital City developer.
The major shareholder in i-Berhad today is Sumurwang with 72% stake. I-Berhad (4251, IBHD) is a public company listed on the Main Market of Bursa Malaysia Securities Berhad which is principally involved in Property Development, Property Investment, Leisure and REITs.
Foray into property development
I-Berhad’s property development activities are currently focused on the development of i-City which occupies a 72-acre freehold land in Section 7, Shah Alam (along the Federal Highway). Envisioned by Tan Sri Lim Kim Hong, i-City is the adaptation of a Digital City that is designed as an international business hub by day and lifestyle haven by night.
Strategically located along Federal Highway with direct access, the RM9 billion freehold ultrapolis comprises data centres, residences, hotels, performing arts centre, a 1.5 million sq. ft. shopping mall jointly developed with Thailand’s Central Retail Group and a theme park. The theme park currently draws an average of 90,000 visitors weekly.
i-City is a MSC Malaysia Cybercentre certified development, a world reference site for Cisco’s Smart+Connected Community (CSCC), endorsed as a Tourism Destination by the Ministry of Tourism and Culture as well as declared an International Park by the Selangor State Government.