I-Berhad to build condos, duplex houses

I-Berhad is set to build 348 condominium units and 20 duplex houses in the city of digital lights in Seksyen 7 here. Each residential unit in i-City starts from RM340,000.

The i-Residence project constituted 20 per cent of the 29ha i-City development, I-Berhad CEO Datuk Eu Hong Chew told reporters after the ground-breaking ceremony officiated by Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim here today. Present was Shah Alam Mayor Datuk Mohd Jaafar Mohd Atan.

Eu said i-City, dubbed the first lighscape tourism destination in Malaysia with state-of-the-art LED technology showcase, would also have a new attraction inspired by Clarke Quay, a riverside development in Singapore.

It was in line with the state government's project to upgrade the 7-km Sungai Rasau that cuts across i-City, he said.

"We will build floating restaurants like Clarke Quay that can draw more tourists but the project will start after the Sungai Rasau upgrade that is expected to take about nine months," he said.

This development was included in the estimated gross development value of RM1 billion, he added. -- Bernama


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I-Berhad inks pact with Everbright Intl

I-Berhad today entered into a strategic alliance with China-based, Everbright International China, to co-develop 12.14 hectares (30 acres) of land in i-City via a joint venture.

Everbright will have a 70 per cent shareholding in the venture. I-Berhad, in a statement here today, said it would hold the balance 30 per cent stake.

Apart from financing the construction, Everbright will also lead a consortium of Chinese companies to set up operations in i-City, Shah Alam.

The development will be undertaken in two phases involving 5.66 hectares (14 acres) for the initial phase and the balance 6.47 hectares (16 acres) in the subsequent phase.

The first phase of the development is for a commercial hub with a gross development value of RM1.5 billion comprising a 92,903 sq m (one million sq ft) shopping mall and 185,206 sq m (two million sq ft) of mixed residential, MSC offices and educational institute. Work on the project is expected to begin by mid-2012. -- Bernama



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