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Tuesday, February 14, 2012

i-City development, phase two

There will be a second phase of development at i-City where the project owner, I-Berhad, will be rolling out more products this year for investors.

According to I-Berhad marketing director Monica Ong, the firm will introduce its first residential project at i-City, dubbed i-Residence.

It will comprise 346 serviced apartment units in a 33-storey block and duplex villas worth a combined RM250 million.

I-Berhad will also roll out the construction of a one million sq ft mall with four towers sited above it. The towers will boast of cyber office suites, corporate towers, small office/home office, serviced apartment and retail, and small office/versatile office-cum-hotel.

The first projects due for launch on March 23 are the serviced apartments and the villas.

"We reckon that sales are going to be positive looking at the registrations," Ong told Business Times.

The serviced apartments are priced from RM465 per sq ft or between RM365,000 and RM699,000 each, for built-up of 700 sq ft and 1,300 sq ft.

The 20 units of villas, which come in 10 five-storey blocks, will be priced above RM1 million with the units ranging from 2,800 sq ft and 3,800 sq ft.

All the units will be fitted with air conditioners, water heating systems and kitchen appliances.

Being part of the MSC Cybercity, the residences will also get to enjoy dual source power supply, a multi-telco environment and super broadband accessibility, Ong said.

"i-Residence is a product you can compare to Mont Kiara in terms of the design and finishing. You can't find such a product in the immediate vicinity. We have buyers looking to buy for their personal investment, rental income or own use.

"The properties are also attractive in prices. They are not as high as Subang Jaya, where properties are transacting at above RM600 per sq ft. So there is high value appreciation here," Ong claimed.

By Business Times

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