[pedang]

https://www.facebook.com/ultimate.property.utopia

About I-City

I-City's fabric, clearly, lies in the game plan to create a buzz that goes on 24 hours a day, seven days a week. For this to happen, the project will offer components comprising:

A cyberport, which will act as an IT backbone for I-City;
A one-million sq ft lifestyle commercial town centre;
A residential community;
A four-acre smart school;
A 300-room hotel;
An office park; and
A shop-office district.

Particularly noteworthy is the cyberport. This is an area dedicated to house the incubators, the city central command centre as well as the area for most of the software development for various e-services. It is intended to be the "front door" for the ICT element of I-City.

Ultimately, the objective is to create in I-City a campus-style live-work environment integrated into a large open space that boasts a lake that will also provide a waterfront environment, says Eu.

People would be attracted to I-City because, Jerde says, the design provides quality communal space. "Architecture is the usual thing when people talk of quality.

However, there is also the quality from the successful integration of the software with the architecture. We are creating a spatial environment that is unique to the site and to the socio-cultural setting of the location."

How will ICT fit into the bigger scheme of things? It is intended to remain in the background. The Jerde approach is about the total environment and ICT will enhance the experience, explains Jerde.

In total, the development would offer some six million sq ft of gross space with an estimated development value of RM1.5 billion.

Why not fill up the lake and build on it too? "We can do that but we can also have the lake and build higher buildings instead. Having the lake is important for I-City's longevity, to ensure that the project is not a flash in the pan," Jerde continues on his design.

Depending on whom you speak to, the Malaysian climate can be a boon or a bane. Which is why the Jerde team will be treading carefully in achieving the desired mix of outdoor-indoor environment through the use of an integration of landscaped terraces, roof gardens, playing fields and a large central park.

The design plan also makes maximum use of the site's topography to afford views and orientation. A public park will also be created on the hillside. All components of the development will be interconnected.

Two phases

I-City will be developed in phases, with the maiden launch targeted for the first quarter of next year. Phase one, says Eu, will comprise the development of the innovation centre, shopoffices and part of the retail centre.

The innovation centre is aimed at technopreneurs, both local and foreign, the shopoffices at local institutions and individuals, and the retail units at what Eu emphasises as "quality tenants".

The total development of the project is expected to take 8 to 10 years. While the retail units and innovation centre will be held by the developer for recurring income, the rest of the products are expected to be put on the market.

But isn't competition in the property market already very intense? "Not based on the concept that Jerde is coming up with," responds Eu.

The market will be waiting for details of I-City as it is being unfolded. Pricing, layout and timing of the specific launches will, no doubt, have a significant impact on the market's response.

 

[choon]

About I-City

I-City's fabric, clearly, lies in the game plan to create a buzz that goes on 24 hours a day, seven days a week. For this to happen, the project will offer components comprising:

A cyberport, which will act as an IT backbone for I-City;
A one-million sq ft lifestyle commercial town centre;
A residential community;
A four-acre smart school;
A 300-room hotel;
An office park; and
A shop-office district.

Particularly noteworthy is the cyberport. This is an area dedicated to house the incubators, the city central command centre as well as the area for most of the software development for various e-services. It is intended to be the "front door" for the ICT element of I-City.

Ultimately, the objective is to create in I-City a campus-style live-work environment integrated into a large open space that boasts a lake that will also provide a waterfront environment, says Eu.

People would be attracted to I-City because, Jerde says, the design provides quality communal space. "Architecture is the usual thing when people talk of quality.

However, there is also the quality from the successful integration of the software with the architecture. We are creating a spatial environment that is unique to the site and to the socio-cultural setting of the location."

How will ICT fit into the bigger scheme of things? It is intended to remain in the background. The Jerde approach is about the total environment and ICT will enhance the experience, explains Jerde.

In total, the development would offer some six million sq ft of gross space with an estimated development value of RM1.5 billion.

Why not fill up the lake and build on it too? "We can do that but we can also have the lake and build higher buildings instead. Having the lake is important for I-City's longevity, to ensure that the project is not a flash in the pan," Jerde continues on his design.

Depending on whom you speak to, the Malaysian climate can be a boon or a bane. Which is why the Jerde team will be treading carefully in achieving the desired mix of outdoor-indoor environment through the use of an integration of landscaped terraces, roof gardens, playing fields and a large central park.

The design plan also makes maximum use of the site's topography to afford views and orientation. A public park will also be created on the hillside. All components of the development will be interconnected.

Two phases

I-City will be developed in phases, with the maiden launch targeted for the first quarter of next year. Phase one, says Eu, will comprise the development of the innovation centre, shopoffices and part of the retail centre.

The innovation centre is aimed at technopreneurs, both local and foreign, the shopoffices at local institutions and individuals, and the retail units at what Eu emphasises as "quality tenants".

The total development of the project is expected to take 8 to 10 years. While the retail units and innovation centre will be held by the developer for recurring income, the rest of the products are expected to be put on the market.

But isn't competition in the property market already very intense? "Not based on the concept that Jerde is coming up with," responds Eu.

The market will be waiting for details of I-City as it is being unfolded. Pricing, layout and timing of the specific launches will, no doubt, have a significant impact on the market's response.

Still remember last time (7 or 8 years back) was called "Sumor or Samor" City but then "mati"...Hope this works...Life is short and cannot afford to wait for many many times changes..

 

[SEED]

looks exciting!! like the name too I-city...

 

[baqthier]

Hope this one works!

 

[Greg]

I-City to boost firm’s coffers

January 13 2006

THE shop offices form part of Phase One of the I-City project, which includes the “CityWalk” pedestrian walkway, a 1.2 million-sq-ft shopping centre and the development of an innovation centre with 100 incubators.

I-Berhad executive director Monica Ong said units in the proposed shopping centre will also not be put up for sale, but fully leased to tenants.

She said the company is currently talking to a US-based international mall operator to manage the shopping centre on a joint-venture basis.

“The foreign operator has indicated interest (in managing the shopping centre). However, it will take another six to nine months before we can make any announcement on the progress of our discussions,” she added.

Construction on Phase One of the development will take place in the first quarter of this year, with the shop offices to be completed in 18 months and the shopping and innovation centres in three years.

Ong said Phase One, totalling RM500 million, and an additional RM40 million to be spent on the sound and light display on the shop offices along CityWalk, will be fully funded by the company’s internal cash resources.

“We called a rights issue in 2002 where we raised RM119.2 million in cash. This was supposed to go into a few areas of development, but they didn’t take off due to the economic slowdown.

“So we are now using the proceeds to fund the first phase of I-City,” she said.

Already, I-Berhad expects I-City to start contributing to the group’s coffers this year with the sale of the shop offices.

Ong said unlike other developers who just develop a piece of property and then sell it, I-Berhad is banking on I-City to bring it recurring streams of income for the group.

“We expect this income to come from rental of the ground floor units of the shop offices and space at the CityWalk, sale of ICT solutions, activities at the walkway and advertising income.

“For instance, the ICT systems that we are going to develop for this development will be sold as a solution to another developer or town council in the future. An example is the smart parking system.

“As such, ICT solutions will be another revenue earner for the group in the future,” said Ong.

I-Berhad is expected to announce its highest net profit in five years for the fiscal year ended December 31 2005.

It reported a net profit of RM6 million on a revenue of RM56.3 million for the nine months ended September 30 2005, compared with a net loss of RM8.3 million on a revenue of RM62 million for the full year ended December 31 2004.

 

[ZaHiRnYa???]

still couldnt figure out the exact location of this I-City

 

[pedang]

location might be in sec 7 s.alam.. but till now, i still not sure la.

 

[ZaHiRnYa???]

Still remember last time (7 or 8 years back) was called "Sumor or Samor" City but then "mati"...Hope this works...Life is short and cannot afford to wait for many many times changes..

I believe its "Sumur City"

 

[fairul]

the guy who design I-City's "City-walk" pedestrian is a well known guy..cant remember his name though..but he did lots of well known project..one of them is at Las Vegas..cant remember the place..but very nice.. kay:
later i try to find the pics

 

[Sheik]

the guy who design I-City's "City-walk" pedestrian is a well known guy..cant remember his name though..but he did lots of well known project..one of them is at Las Vegas..cant remember the place..but very nice.. kay:
later i try to find the pics

The architect is Jon Jerde. He designed the Bellagio, Wynn and Palms casinos in Las Vegas. He also desgined the mall of America and several other famous malls around the US and the world. I am looking forward to his project at I-city. This will be world class attraction. His website is www.jerde.com. There are also articles on i-berhad site. Can't wait when the retail component opens next year!

Just for you curious guys, I was proud to learn that the executive chef at a Chinese restaurant at Wynn Las Vegas is a Malaysian. Look at www.wynnlasvegas.com.

 

[nazrey]

I-City to drive
By P. Rajan
Property Times 07 January 2006 issue


The RM1.5 billion I-City project will play a three-pronged role in attracting more people to Selangor’s capital city, Shah Alam: It will attract local and foreign tourists with its up-and-coming leisure related activities; knowledge workers with the establishment of an innovative multimedia centre; and shoppers with its retail and entertainment components.

The recent endorsement of I-City as a tourist destination by the Ministry of Tourism Malaysia is testament to the confidence the Government has in this inimitable development.

“Malaysia is already well-known for ecotourism and its splendid beaches. With the unique I-City coming onstream, tourists will have something new to look forward to … I congratulate I-Bhd for its far sightedness in embarking on this project,” Deputy Tourism Minister Datuk Ahmad Zahid Hamidi said at a ceremony marking the event, where he also presented prizes to winners of the I-City logo design contest.

The 72-acre commercial development, which has generated considerable interest since it was first unveiled in June last year, will also encompass an innovation centre, retail hub and shop-office precinct.

As a result of the Tourism Ministry’s endorsement, I-City will be promoted as a destination for the “Malaysia: My Second Home” scheme, Zahid said.

“We are aiming for quality tourists whose length of stay should exceed the present five-nights. Towards this end, this private sector initiative to develop I-City is much appreciated,” he said.

A main part of the project’s allure will be a RM40 million 1,000ft-long dynamic pedestrian corridor named CityWalk, which will be the first of its kind in the region to utilise a multimedia programmable “sound and light” display to create a unique ambience.

Designed by United States based architect Jon Jerde, CityWalk will be launched in the first quarter of this year and is expected to be completed by the end of 2007.

Expressing confidence in the project, I-Bhd director Mat Hassan Esa said, “We expect to attract more than 12 million visitors a year to CityWalk when it is completed.

“When the entire development of I-City is fully completed, we expect to attract some 30 million visitors annually”.

 

[ZaHiRnYa???]

Shah Alam is so boring

 

[fairul]

Shah Alam is so boring

kinda agree...nothing much to offer there..but i would like to raise my own family in a place like Shah Alam ..
till today..i still have difficulty with the roads there..

 

[ZaHiRnYa???]

kinda agree...nothing much to offer there..but i would like to raise my own family in a place like Shah Alam ..
till today..i still have difficulty with the roads there..

Ha.ha..me too...still hate Shah Alam road n its neverending roundabout :lol:

 

[fairul]

Ha.ha..me too...still hate Shah Alam road n its neverending roundabout :lol:

Farid..Shah alam's roundabout is still small if u compare to the one in Kuching..it is so so big..up to the point where u can construct a property in the roundabout area...hahah ..but then..no one propose it yet la..

 

[Sheik]

I-city

All eyes on launch of I-City first phase

Property Talk: A weekly column by S.C. Cheah

AFTER months of media blitz, I-Bhd is all set to launch its first property products, 200 shop office units in its RM1.5bil I-City, at the end of next month.

The phase 1 launch will be keenly watched because its success will prove market acceptance of a new concept in retailing.

Although new to property development, I-Bhd has engaged the top brains in various fields, including world-renowned Jon A. Jerde, to be the project’s architect and master planner to help the company extend its vision from being a provider of digital lifestyle solutions to a builder of smart communities.

I-City sits on a 72-acre freehold site in Section 7, Shah Alam, formerly slated for Sumur City – a project that was mooted in 1995 but failed to take off.


Monica Ong
However, this time around, I-Bhd chairman Datuk Lim Kim Hong, the man behind both projects, is confident that I-City will succeed and he has strong reasons to back his claim. He has Jerde behind him and a location that is just waiting to be developed to its full potential.

Jerde is responsible for some of the most acclaimed architectural landmarks, such as Mall of America, Universal CityWalk in the United States, Fremont Street Experience in Las Vegas, Roppongi Hill in Japan and The Arcade @ Cyberport in Hong Kong.

Hence, purchasers of the 22ft x 75ft shop offices will be buying Jerde’s creations.

I-City is also designated as the premier information communications technology hub for Selangor and endorsed by the Tourism Ministry as a tourist destination.

To show seriousness in the project, I-Bhd recently announced that it would be investing RM40mil in an integrated light and sound multimedia technology for I-City’s CityWalk. The technology will give visitors an “experience of a lifetime” as it will activate the three human senses of sight, sound and smell.

“It is one of the many innovations that the company will be introducing over the eight to 10-year long development of I-City,” I-Bhd executive director Monica Ong said, adding that the company was also finalising negotiations with a reputable multimedia development consultant to make I-City an international icon.

The CityWalk, a dynamic 1,000-ft long pedestrian street mall, is modelled after the famed Universal CityWalk in Los Angeles and Fremont Street Experience in Las Vegas. It will feature a varied mix of trades and three courtyards where events and promotions will be an on-going activity.


Datuk Lim Kim Hong
The shop offices will be located right next to CityWalk.

“We plan to launch all the 200 shop offices at one go. About 90 units will be retained for lease, and for long-term recurring income. The balance of 110 units will be for sale, with about 50 to be sold en bloc and the remaining 60 units on a stratified basis. We expect a sale price of above RM1mil per block,” Ong said, adding that en bloc rent might be in the region of RM7,000 per month for intermediate lots.

The anticipated rental rates of CityWalk retail units will range from RM10,000 to RM12,000 per month for the ground floor (inclusive of service charge) and RM3,500 to RM6,000 per month for the upper floors.

Ong said CityWalk would be a wholesome centre, oriented to the target market that would include families.

“The tenants will be carefully selected based on their abilities to contribute and provide variety, flair and dynamism. At this stage, we envision a mixture of outlets for IT, gadgets, F & B, gifts, hobbies, and fashion,” she added.

Are Malaysians prepared to walk in the humid heat?

“We have taken into account many factors, from site location to building orientation, architectural design including layout, and the sun and wind direction. It will feature both open and enclosed walkways, with canopies and covered walkways, lush landscaping, and water features along the street. We will be introducing a cooling system that will create a comfortable environment for visitors,” she said.

Ong said CityWalk would have light and sound shows, activities at courtyards and other themed attractions.

“There will be three entrances to CityWalk and we have designed one entrance in the north-east, with a large foyer and ample drop-off points to cater to tour groups. We have also planned a showcase of Malaysia’s heritage, culture and handicraft at the foyer. We try to be unconventional in our development approach. We focus on adding value for our investors, retailers and tenants.”


An artist's impression of CityWalk in I-City, Shah Alam.
Anyway, one can also shop in air-conditioned comfort in the shopping centre in I-City where all the retail lots will be for lease. This is desirable, as many shopping complexes that are sold on a stratified basis have failed.

Ground breaking is scheduled for next month, followed by the sales launch. CityWalk is expected to be completed next year and the shopping centre in three years.

For avid shoppers like myself, we can look forward to spending our weekends at an interesting shopping and entertainment venue that is currently lacking in Shah Alam.


IBHD : [Stock Watch] [News]
IBHD-LA : [Stock Watch]
IBHD-OA : [Stock Watch]

For latest Bursa Malaysia indices, charts and other information click here

 

[Sheik]

CityWalk

Lighting the way forward

Chris Prasad
The use of lights has come a long way since Thomas Edison flicked on the first bulb. No longer just to brighten dark spaces, light has become the medium to bring ambience, colour and excitement.

In the world of property too, lighting has surpassed its purpose of merely brightening buildings and interiors to now highlight the aesthetics of the exteriors and bring attention and prominence to them.

For example, lights make the Petronas Twin Towers stand out like a majestic beacon in the night sky. And those that shine on Bangunan Sultan Abdul Samad in Kuala Lumpur give this historic monument significant grace and elegance.

Moving forward, lighting and technology now have come together to create a whole new world for Edison’s creation.

As the next generation, lighting technology has entered the phase where it is now possible for spectacular environments to be created within developments, giving them life, and even making them interactive.

Light has become the life of space, capable of enriching the experiences of visitors, and alluring crowds.

Lighting can be a medium to enhance people’s connection with their surroundings; to energise them; make them look, see, laugh and marvel; and eventually, leave with lasting impressions.

The latest in video projection techniques now make it possible to convert empty building facades into canvases and walls into artistic surfaces of expression. Going beyond the static rendering of light, gliding colours on structural surfaces not only decorate, but also add life.

Using the same method, it also becomes possible to blend outdoor and indoor spaces at the edges of buildings, making outside walls seem like transparent skin. Or alternatively, light can blend a building, like a chameleon, to its backdrop.

Enforced with sound, the effects can truly be awe-inspiring, as new techniques literally give buildings life with audio-visual impressions of movement. Imagine, buildings can now wave, bend and even grow with the accompanying sound of cracking bricks and mortar!

Similarly, landscapes in the surroundings can be brought to life, as light and sound trick the mind into believing that plants and trees are changing colour and growing in front of your very eyes.

Projection techniques can also create, sustain or change the ambience and mood of a location. Imagine large screens on walls and walkways depicting lively Christmas colours during December, and then simply with a backdrop change, transform the environment to usher in Chinese New Year.

The ability to change the setting keeps the environment fresh and new, extending the novelty value of the property.

Even more incredible is that light and sound can be infused with scents to truly tickle the senses.

Audio-visual technology combined with a perfume effect can transform urban spaces into a magical experience for the visitor by stimulating the visual, acoustic and olfactory human senses.

Imagine being able to set the tone for an event like Hari Raya with a traditional kampung backdrop enveloping an entire location, complemented by the subtle sounds and aroma of the occasion in the background.

As hypothetical as all of this might sound, such an experience will soon become a reality for Malaysians who will get the opportunity to witness the magic of light when the first phase of the futuristic I-City development in Shah Alam, Selangor, is completed.

As part of its aim to “Make the world come alive” there, developer I-Bhd is spending RM40 million to equip its CityWalk retail precinct with innovative light and sound technology to make it the heart and soul of the development.

CityWalk will be modelled after the famed Universal CityWalk in Los Angeles, United States, with the 1,000ft pedestrian mall featuring a light and sound system that is programmable, allowing the developer to change the ambience to cater to specific events or holidays.

This will be achieved via a variety of media, among them a number of projection screens atop buildings as well as a cinematic rooftop that will stretch the length of the walk, complemented by atmosphere-creating sound systems.

Smart lights capable of detecting and interacting with visitors will also be placed along the walk.

“The light and sound technology is part of our plan to draw at least 12 million visitors a year to CityWalk,” said I-Bhd executive director Monica Ong, adding that it would be the first of its kind in this part of the world.

“With it, we will be able to continuously introduce different themes and settings, which will make CityWalk the place to go to, again and again.”

Ong also revealed that the company is finalising negotiations with a reputable international lighting consultant, who will be tasked with creating an environment for CityWalk so it will become an international attraction.

Elated by the attention this high-tech venue will bring to the State, the Selangor Government has welcomed the move, saying that it believes CityWalk will spark excitement and vibrancy in the area and “bring added glitter to the country’s most dynamic State”.

State Executive Councillor Datuk Ch’ng Toh Eng said Selangor is “happy to support developments that can enhance our reputation as the first developed State in the country and a premier investment destination”.

Ch’ng, who is also the chairman of Selangor’s Permanent Committee for Multimedia and head of the I-City Selangor Steering Committee, a State-level panel that will oversee I-City’s implementation, said aside from the commercial appeal and its benefits, bringing the light and sound technology will create opportunities and broaden the capacities of knowledge workers.

“The exchange of ideas and transfer of technology are just some of the spin-off benefits that can be seen,” he said, adding that the plans fall in line with Selangor’s objective of nurturing ICT development.

- Property Times 04 February 2006 issue -

 

[nazrey]

I-City project to generate RM300m in gross development value
By OOI TEE CHING
March 1 2006


ELECTRICAL appliance maker I-Berhad, which is making its debut as a property developer, expects the first phase of the 29ha I-City project to generate RM300 million in gross development value (GDV).

Of the 200 units of the 24ft by 80ft shop offices to be built under the first phase, 120 units are for sale and the remaining 80 for rental.

“We’ll start earthworks next week and hopefully the shop offices can be completed by the end of 2007,”, I-Berhad director Johari Low Abdullah said after signing a joint venture agreement with landowner Sumurwang Sdn Bhd in Kuala Lumpur yesterday.

Sumurwang, an investment holding company, is a major shareholder in I-Berhad.

Johari said payment for the land will be pegged to sales and/or rental from the properties developed over five years.

“Interest for this deferred payment will be payable if I-Berhad achieves an internal rate of return of 8 per cent.

“This payment of interest in cash now replaces the earlier proposal to allow Sumurwang an option to subscribe to new shares in as I-Berhad compensation for interest foregone on deferment of payment,” he said at a press conference after the signing ceremony.

Johari described the joint venture as a win-win deal for all parties.

“For I-Berhad, it need not come up with large upfront holding cost to venture into property development and for minority shareholders, they can share in the new income stream without further financial commitments.

“Also, Sumurwang would be motivated to ensure that the project achieves high returns,” he said.

The 29-ha I-City development is located within the Shah Alam Section 7 area, between Universiti Teknologi Mara’s main campus and the Bukit Rajah Industrial Park.

I-Berhad chief executive officer Eu Hong Chew said the company has submitted its application to the Securities Commission to change the usage of proceeds arising from its 3-for-1 rights issue and issue of 40 million ICULS made in May 2002.

At that time, I-Bhd raised 119.16 million from this exercise, of which RM74.45 million remain unused as at December 31 2005.

He also said that the major portion of the unused rights and ICULS issue money was supposed to be used to upgrade its air-conditioner manufacturing facilities in 2002.

But I-Berhad decided to abort the exercise in view of stiff competition from many low cost manufacturers in China.

“We hope the Securities Commission will approve our application soon. We’re targeting to implement this corporate move by April,” Eu said.

In its filing with the stock exchange recently, I-Berhad achieved RM6.80 million net profits on the back of RM65.62 million for the year ended December 31 2005.

 

[pedang]

Strong upside for I-City's first phase

By P. Rajan
The shop-office units in the up-and-coming I-City development in Shah Alam, Selangor, may be able to give investors impressive yields of 10 per cent per annum or more once they are completed by the end of next year.

Expected to be launched for sale within the next few months, the units will be in two clusters, each flanking a unique 1,000ft pedestrian walkway known as CityWalk, which will be the heart and soul of the first phase of I-Bhd’s RM1.5 billion commercial venture.

“The freehold nature of the property, its location off the Federal Highway that will ensure easy access to major parts of the Klang Valley, the dearth of quality shop-offices in the area and the vibrant nature of the project itself should ensure brisk demand for the units once they are put on the market,” said property consultant Allan Soo of Regroup Associates.

While the selling price is not fixed yet, sources say it could be in the RM1.2 million to RM1.5 million range, which would translate into a yearly yield in the region of 10 per cent, even if based on a conservative monthly rental assumption of RM2psf.

According to a recent study on commercial space in Shah Alam undertaken by a property consultancy, rents in purpose-built offices such as Menara MRCB, Plaza Perangsang and Wisma MBSA are presently at the RM2.50psf level, with high occupancies attained.

“There is very strong interest in stratified office buildings and those that were launched recently, particularly in PJ, have sold well,” said executive director of I-Bhd, Monica Ong.

“Shopping centres are being well received too, with rents and occupancies growing more than 10 per cent.”

She explained that I-City will feature 200 shop-office units occupying 17.21 acres of the project’s 72-acre site, of which 80 units will be retained for lease by the company.

The remaining 120 units to be sold comprises 71 and 49 units on the western and eastern flanks of CityWalk respectively, and will be of four and six storeys with dimensions of 22ft by 75ft.

In total, the 200 units will accommodate close to one million square feet of nett built-up space.

More than just a commercial shop-office precinct, Ong said there will be a number of factors investors can bank on to make the place vibrant.

Among them is the company’s decision to retain the 80 shop-units for lease so it can be turned into a dynamic pedestrian mall modelled after Universal CityWalk in California.

With the target of attracting some 12 million visitors per year, the Shah Alam version of CityWalk will feature a RM40 million programmable sound-and-light system to change the ambience along the walkway to reflect different themes, thus making it a bright and exciting destination for both locals and tourists alike.

“CityWalk will be the only one of its kind in the region,” said Ong, adding that other features to support the business activities include the availability of basement car-parking with over 2,400 bays so “visitors won’t be faced with the perennial problem of finding parking”.

Also, in contrast to most shop-offices, I-City’s units will have lift access, implying that rentals on the upper floors can be fairly consistent.

Part of the crowd envisaged to flock to CityWalk will come from the immediate catchment area of Shah Alam itself, which the property consultancy report said has a population growth rate of four per cent per annum and a current size of 470,000.

“With an expected population of 590,000 by 2010, (the residents and workers in) Shah Alam are looking for a live-wire destination to patronise within their area and I-City aims to be it,” said Ong.

- Property Times 21 January 2006 issue

 

[nazrey]

I-City architect receives more accolades
- Property Times 25 March 2006 issue -


World-renowned architectural firm, The Jerde Partnership of the United States, which is designing the mammoth I-City integrated commercial development in Shah Alam, Selangor, recently won international acclaim for two projects it is undertaking around the world.

One project in Warsaw, Poland, is Zlot Tarsay, a 2.4 million square feet commercial venture comprising retail lots and offices while the other in Osaka, Japan is Namba Parks.

In accepting the 2006 Architectural Review MIPIM Future Project Award in the Retail and Leisure category for Zlot Tarsay mid-month in Cannes, France, David Rogers, vice president and director of design for The Jerde Parnership, said: “I am honoured Zlote Tarasy has received this award.

“The firm has worked very closely with the developer ING Real Estate to design it as an experiential project … .

“When it opens, it will reconnect the project to the city and realise the site’s potential as the centre of a large urban system.”

The award, conferred by MIPIM, the world’s leading real estate event, takes is the latest of several the firm has won for projects it has undertaken since its founding by Jon A. Jerde in 1977. These include Roppongi Hills in Japan, Universal CityWalk Horton Plaza in Los Angeles, California and The Arcade at Cyberport in Hong Kong.

Zlote Tarsay was designed to reconnect and revitalise Warsaw’s fragmented urban fabric. Expected to be opened by year’s end, it will feature a central terraced plaza enclosed by an iconic, undulating glass roof conceived by Jerde as a metaphor for the tree canopies that shade Warsaw’s historic parks.

The terraces will accommodate specialty retailers and restaurants and provide views of events to be held below, while office towers will encircle the terraces.

The second project to win acclaim, the 9.2-acre Namba Parks commercial centre, was selected as one of the 10 finalists in the 2006 Urban Land Institute Awards for Excellence: Asia Pacific.

In designing it, Jerde created a natural experience in Osaka’s dense urban core with a rooftop park ascending eight levels and crowning a lifestyle commercial centre.

At home, Jerde’s design of the futuristic I-City project on 72 acres of freehold land in Shah Alam, Selangor, promises to be the first of its kind in the region.

Featuring components including a retail centre, office towers, hotels, service apartments, a hypermarket, intelligent school, technology centre, pedestrian street mall and shop-offices, the venture being developed by main-board listed I-Bhd is expected to carry a value of RM1.5 billion and be completed in eight to 10 years’ time.

The first phase of development, comprising three- to five-storey shop-offices in a precinct called CityWalk modelled after Jerde’s Universal CityWalk in the US, is slated for sales launch at the end of next month.

In keeping with its award-winning potential and ability to draw visitors both domestic and foreign, the Ministry of Tourism recently endorsed I-City as oe of the country’s tourist destinations.