An old aerial image
About 15 years ago when Tan Sri Lim Kim Hong was planning the development of i-City on 29.13ha of land in Seksyen 7, Shah Alam, the billionaire entrepreneur had envisioned what it would turn out to be a decade later. Today, the development and its progress has surprised many industry players. The idea for i-City 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 Lim.
Back then, i-City was a project that would generate RM1.5 billion in gross development value (GDV). Today, with an approved gross floor area (GFA) of 13 million sq ft, the GDV may even exceed the estimated RM10 billion target set by its developer, I-Berhad.
The i-City unfolding today is founded on the determination of its developer to offer a fully-integrated lifestyle township with the infusion of cutting-edge technologies, characterised by a number of strategic alliances with some of the world’s A-listers.
i-City as you see it today.
This strategy is a part of i-City’s vision to be an international park, a status conferred on it by the Selangor government as part of the administrative’s drive for Shah Alam to be an international city. So, it was not surprising when the state government said in February that i-City was fast shaping to be the heart of Selangor’s golden triangle.
Menteri Besar Amirudin Shari said in February rapid developments at i-City could potentially turn it into a “golden triangle” in Selangor. He said the development presented excellent economic space for those living in Selangor as well as the rest of the country.
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, given the golden triangle “status”.
GOLDEN TRIANGLE
What makes i-City the heart of Selangor’s golden triangle? Lim said there are three key points —prosperity, influence and economic success.
“i-City is now a sought-after residential address. The demand for i-City as a residential address is reflected in the speed at which the price for i-Residence, launched in 2012, has more than doubled from about RM450 per square foot (psf). In 2017, we launched Hill10 at RM1000 psf. More importantly, the units launched were fully taken up. We have sold over 4,000 residential units since the first launch in 2012,” he told NST Property.
In terms of the influence i-City has on the market, Lim said the project has helped cement Shah Alam’s place on the world tourism map with its theme park listed by CNN Travel as one of the world’s top 25 most colourful and brightest places.Since its opening to the public in 2009, the theme park has attracted more than five million visitors a year to Shah Alam. Its City of Digital Lights with one million LED lightscapes, the Red Carpet 2 interactive wax museum and the SnoWalk falling snow and ice carving experiences have continued to woo visitors, he said.
Economically, i-City has spurred Shah Alam’s economic growth by bringing in foreign investors and international brands, as well as creating ample job opportunities.
“The 220-room Best Western i-City hotel is currently in its sixth year of operations. Under construction is the 300-room Double Tree by Hilton i-City, on the launch pad is the Fraser Place serviced apartments while on the drawing board isa400-room five-star international hotel.
“i-City opened its International Convention Centre in November 2018, providing a platform to host MICE (meeting, incentives,conferences and exhibitions) events.
It is able to accommodate up to 1,000 guests (banquet style seating) and 2,000 guests (theatre-style seating) given its total gross area of 20,000 sq ft.
“Last month we opened the 940,000 sq ft Central i-City Mall, which was developed as a joint venture between the Central Pattana Group of Thailand and i-City.
It is envisaged that the mall would transform Shah Alam into a regional shopping centre and a destination of choice for cruise ships stopping over in Port Klang.”
BRANDING MAP FOR I-CITY
Ho Chin Soon Research Sdn Bhd chairman Ho Chin Soon said based on his company’s research, several corridors of growth in Selangor have been identified and growth is stronger along the Federal Highway, especially where i-City is located. His firm has crafted a “Branding Map” which positions i-City as the heart of Selangor’s golden triangle. He said the Branding Map would highlight the key features and components that would make i-City’s “Golden Triangle of Selangor” claim justifiable and reasonable.
“The map is drawn to scale and one should be able to see the LRT 3 stations located to the north of i-City. Also the West Coast Expressway, currently under construction, will be identified and highlighted. This expressway will open up accessibility to a higher level.
“Landbanks for further development lying south of the Federal Highway and easily connected by a bridge to the main i-City will also be shown. And, definitely, the newly opened flyover from the Federal Highway will be marked,” he said.
Ho said intuitively, the Central i-City Mall is a major and key component to the “Golden Triangle of Selangor” claim that would spur further developments and raise values.
Some 10 to 15 years ago, some work and site clearings would have started at i-City but these were nothing compared to what you see today. Personally, I am amazed by Lim’s energy and dedication to bring all these elements together. He has done a fantastic job indeed, especially in building the mall. People in Klang, Shah Alam and western parts of Petaling Jaya will be patronising the mall,” he added.
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