The I-City endeavour in Shah Alam has, at times, been criticised for moving at snail’s pace with regard to achieving its overall development vision, but lately it looks to be picking up the pace.
The most recent indication of this has been developer I-Bhd’s announcement of plans to launch a slate of new high-rises within the burgeoning futuristic township later this year.
According to I-City director Monica Ong, in spite of prevailing soft market conditions, the company is confident that demand continues to exist for products that are relevant to market needs.
At the launch I-Bhd’s Hill10 Residence @ i-City logo late last month, the company indicated that it will be launching more serviced residences before the end of the year, because there is still a need for such properties within the Klang Valley.
The 72-acre I-City development continues to be I-Bhd’s flagship project and earlier news reports suggest that the company plans to complete and deliver over 3,000 high-rise units within the township over the next few years.
The first to be launched this year is Hill10 Residence @ i-City, an apartment project that is slated to be unveiled on June 10. It will target customers aged over 40 with monthly household incomes of above RM10,000.
The (GDV) RM124 million project offers 200 suites that housed within a 42-storey tower which are priced from RM500,000. The private residences will occupy the top half of the structure, while the bottom will be occupied by the DoubleTree by Hilton i-City hotel with 300 rooms.
Construction of the project is expected to be completed in 2020.
Ong said that the despite being months ahead of the launch, Hill10Residence @ i-City is already open for registration and the response has thus far been encouraging.
I-Bhd expects to see a jump in new sales from the upcoming project in the second half of the year, anticipating that it will achieve rapid sales.
It added that it was confident demand properties in I-City will remain strong in the foreseeable future, underpinned by the development progress from four projects – namely, i-Suite, Liberty Tower, Parisien Tower and Hyde Tower in i-City.