LOCATED in the heart of Selangor's Golden Triangle and listed by CNN Travel to be amongst the world's brightest and most colourful destination, i-City has now been hailed as 'exemplary' by property consultants.
The RM10 billion i-City is an exemplar project that shows how to scale-up an industrial focused area and create a sustainable development, attracting local and foreign investments.
I-Berhad executive chairman Tan Sri Lim Kim Hong told NST Property that i-City had come a long way since it was first envisaged over 15 years ago.
Back then when it started, the developer launched low-rise MSC Malaysia Cybercentre Office Suites and it was the first for Shah Alam.
The 29.16 hectare i-City quickly became an international destination and the first private sector MSC Malaysia Cybercentre development in the country.
For Lim, being “international” means being an investment location of choice for global companies.
Among the foreign investors in i-City are Best Western International, which is currently operating the 3-star Best Western i-City; Hilton Worldwide Group, which will operate the four-star DoubleTree by Hilton i-City Hotel next year; and Central Pattana Plc (CPN), Thailand’s largest retail property developer.
CPN and I-City Properties Sdn Bhd (ICP), an affiliate of I-Berhad jointly developed Central i-City, the largest shopping mall in Shah Alam, at a cost of RM850 million.
The 926,000 square feet six-storey mall with over 350 retails stores officially opened on June 15, this year. CPN has 60 per cent stake, and ICP, 40 per cent.
Central i-City is CPN’s flagship project in Malaysia and its first internationally, signifying the group's advancement into the Asean shopping centre landscape.
In July, Prime Minister Tun Dr Mahathir Mohammad praised i-City for paving the way for Thailand investments, during a four-day work visit to Thailand to host the Asean summit.
"Our Prime Minister was very happy with the partnership, stating that CPN can be a catalyst in encouraging more investors from Thailand to i-City and Malaysia as a whole," said I-Berhad's deputy chairman Datuk Eu Hong Chew.
CPN’s reason in choosing i-City as a strategic location was because it had the MSC Malaysia status, advanced infrastructure, hotels, serviced apartments, Grade A office towers and various other technological-based facilities.
I-Berhad was invited to showcase i-City during the recent launch of the World Town Planning Day by Federal Territories Minister Khalid Abdul Samad.
The company's director Monica Ong gave updates and briefed Selangor Menteri Besar Amirudin Shari on the progress of the development.
In February, Amirudin said i-City has potential to be the Golden Triangle for Selangor.
He said, 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.
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.
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.
Free access to leisure park for a day
Lim said, the leisure park @ i-City will host the first "Golden Triangle Day" on Feb 9, 2020.
He said it will be an annual event by i-City where for one day in a year, visitors will get to enjoy free unlimited rides in the amusement and theme park from 10am to midnight, and access to WaterWorld from 10am to 6pm.
"Visitors will also get to enjoy our main attraction, the Red Carpet 2 but each person will have to purchase a souvenir to get in. Visitors can also enter SnoWalk for free but if they want t
o stay longer, they will have to rent the winter clothin
g and shoes," said Lim.
"We hope to encourage more people to come to i-city," said Lim, adding that i-city, on average, churns RM1 million in revenue a day from it's leisure park operation.
"The Golden Triangle Day is i-City's way to show its gratitude to people who have supported us and to encourage those who have never been to i-city to take this opportunity to visit," he added.