The 73-storey Jewel is the final structure that will signify i-City’s place in Selangor’s development folklore.
The eye-catching structure will also be the most iconic element in i-City, which is currently the centre of attention.
Last week, Selangor Menteri Besar Amirudin Shari said rapid developments in i-City, a project by I-Berhad, are capable of making Shah Alam one of the centres of the “golden triangle” area in Selangor.
Amirudin said the i-City development presents excellent economic space for those living in Selangor and Malaysia.
Markets valuers say i-City is set to become the central business district (CBD) of Selangor, placing the state on the world map.
“We expect more iconic towers coming up in i-City. I-Berhad is targeting local and foreign investors to lease or buy them. I believe there are investors talking to I-Berhad for purpose-built towers,” said a source close to the company.
The i-City idea was conceived in the 1990s, in line with Malaysia’s then aspiration of becoming a high-income nation by 2020.
The 1997/1998 Asian financial crisis put a halt to the plan, and it was not until 2005 that i-City became a reality for I-Berhad founder and group executive chairman Tan Sri Lim Kim Hong.
Back then, i-City wasaRM1.5 billion township with an approved built-up of about five million sq ft. Today it is a RM10 billion ultrapolis with an approved gross floor area (GFA) of 13 million sq ft.
Only about 40 per cent of the approved GFA was completed at the end of last year.
From an architectural viewpoint, the master plan for i-City comprises 24 high-rise towers. At least 10 towers have been completed, with another four currently under construction.
The remaining towers, including The Jewel, are on the drawing board.
By 2025/2026, i-City is expected to boast about 25,000 residents, some 30,000 knowledge workers and at least 29 towers.
The Jewel will be surrounded by at least two office towers, an international wellness and medical centre,a medical training centre, three luxury residential buildings and a CBD commercial square.
Based on current plans, Grade A offices will occupy Level One to 50 of The Jewel while a five-star hotel will take up the top floors.
“The Jewel masterpiece is the final structure that will signify i-City’s place in Selangor’s development folklore. It is the icing on the cake. We may start construction this year or in 2020. The target completion is 2025,” Lim told NST Property
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