Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Tuesday, November 23, 2010

I-Berhad in talks to revive mall project

PROPERTY developer I-Berhad is currently in talks with relevant parties to revive its shopping mall project in Shah Alam, Selangor, said its top executive.

The i-City mall project was halted last year due to the global financial crisis. It was initially reported that the mall will span about one million square feet, almost equivalent to Mid Valley Megamall in Kuala Lumpur.

"We are currently in discussion stage and we will announce the plans when appropriate," chief executive officer Eu Hong Chew said but declined to elaborate further.

Earlier reports speculated that Singapore's CapitaLand Ltd would be I-Berhad's foreign partner to help develop the mall.
There are currently about four main shopping malls in Shah Alam - Shah Alam City Centre, Plaza Masalam, Kompleks PKNS and Alam Sentral mall.

i-City is an estimated RM2 billion project on 29ha that boasts a broadband speed of 20Mbps with fibre optics network and a back-up power supply.

The first phase, comprising 6.1ha with 500,000 sq ft of office space, is now 60 per cent occupied.

Yesterday, I-Berhad launched a 10,000 sq ft outdoor convention area known as i-Walk. The convention arena is an indoor-type air conditioned environment that is designed with 1,000 programmable LED lights making it an ideal avenue for corporate events or private functions.

The i-Walk can accommodate up to 33,000 people at one time and is expected to be ready by the end of December. The project is part of its phase two development covering 3.64ha with a gross development value of over RM150 million.

Also present at the event was Minister of Housing and Local Government Datuk Wira Chor Chee Heung.

In his speech, Chor praised i-Berhad for providing township services such as landscaping, security, rubbish collection and traffic management within its i-City development.

"This is in line with ministry's mission of having human settlements with integral facilities, social and recreational services," he said.

By Business Times

No comments: