SHAH ALAM: THE i-City development in Shah Alam, which will soon open the 940,000 sq ft Central i-City mall, is poised to become the heart of Selangor’s “golden triangle”.
Menteri Besar Amirudin Shari said recently the rapid developments in i-City was capable of turning the state capital into a key pillar of the “golden triangle” by offering excellent economic opportunities.
Selangor is Malaysia’s economic powerhouse and most progressive and developed state, contributing almost 25 per cent to the country’s gross domestic product.
According to Amirudin, total investments in Selangor last year were expected to breach the RM14 billion mark, the second highest in the past decade and double the RM7 billion target of the state government.
“If you look at the record in the last 10 years, this is the second highest achievement for Selangor. The highest was in 2014 when we achieved more than RM15 billion in investments,” he said after attending a reception in conjunction with the Federation of Hokkien Associations of Malaysia’s Chinese New Year celebration.
Property consultants and valuers believe that the development of i-City would open up new opportunities for businesses and attract foreign direct investment into Selangor.
Nawawi Tie Leung Property Consultants Sdn Bhd executive director, (investment/research and consulting) Brian Koh believes more foreign investors would set up shop in i-City.
“i-City has had the MSC Malaysia Cybercentre status for several years now. What will likely attract investors to i-City is the MSC Malaysia Cybercentre status, excellent infrastructure and highway connection,” Koh told NST Business.
From an architectural viewpoint, the master plan for i-City comprises 24 high-rise towers. Ten towers have been completed with four more under construction.
By the end of this year, i-City will have its first Grade A office tower ready (about 35 floors), equipped with Artificial Intelligence (AI) technology.
There are 10 towers on the drawing board, including the 73-storey “The Jewel”.
The tower, which will cement i-City’s place in Selangor’s development history, comprises offices, a five-star hotel and premium retail space.
It would dominate the Shah Alam skyline by 2025, said I-Berhad executive chairman Tan Sri Lim Kim Hong.
“It has become a vibrant area that has turned the heads of property buyers and developers alike,” he said.
The RM10 billion i-City development has entrenched itself as a leading player in the Shah Alam property space with part of its successes attributed to the myriad connectivity options.
It now boasts of excellent infrastructure and connectivity such as highways and roads, which connect it to seaports and airports as well as keeping it within 30 minutes driving distance from the Klang Valley.
In addition to having a direct flyover connecting it to the Federal Highway, i-City is also accessible via the Shah Alam Expressway, Lebuhraya Kemuning-Shah Alam, the upcoming West Coast Highway, New Klang Valley Expressway, Guthrie Corridor Expressway, Shah-Alam Puchong Highway, Lebuhraya Damansara-Puchong and the North-South Expressway Central Link.
The number of highways connecting i-City to the rest of urban Klang Valley attests to its strategic location at the heart of Selangor’s “golden triangle”.
Public transportation includes the Light Rail Transit 3 network from Bandar Utama to Klang, with a stop at i-City.
Industry experts said a golden triangle must meet several criteria in terms of infrastructure, modern features like Internet of things and AI technology and a development concept that caters to local and international players.
“i-City has met all the criteria to be part of the golden triangle of Selangor. It has Grade A offices similar to those in Kuala Lumpur that fit the needs of multinational companies. There are also ample residential places for the communities,” said an industry expert.
The RM850 million Central i-City mall will have 350 retail outlets and will be the largest mall in Shah Alam once completed. Anchor tenants will include Sogo Department Store, TGV Cinemas and Village Grocer.
It is learnt that the mall will likely open by the end of next month.
Central i-City is a joint-venture project between CPN Ventures Sdn Bhd (a wholly-owned subsidiary of Central Pattana Pcl, Thailand), which has a 60 per cent stake, and I-City Properties Sdn Bhd, an affiliate of I-Berhad with the balance 40 per cent.
The mall is CPN’s flagship project in Malaysia and its first internationally.
Lim said with Central i-City mall, the International Convention Centre and the existing theme park, I-Berhad expected to receive 12 million visitors this year.
He said the company was confident of growing the number to 30 million visitors over the next five years with the opening of the DoubleTree by Hilton, a second convention centre and the completion of CentralWalk.
CentralWalk is one of the key features of i-City. It has multiple blocks offering shopping, hospitality, leisure, convention and medical conveniences.
From a master layout planning perspective, CentralWalk helps to differentiate the commercial component of i-City with the residential and office components.
It is an extensio
n of the City of Digital Lights, which has been acclaimed by CNN Travel as one of the world’s top 25 brightest and most colourful places.