i-Suite, i-SoHo in Shah Alam achieve 100% take-up rate following sale to Chester Properties

PETALING JAYA (Aug 10): Following the purchase of 30 units in i-Suite and 120 units in i-SoHo at i-City in Shah Alam by real estate agency Chester Properties, both phases have achieved 100% sales, said developer I-Bhd in a statement today.

i-SoHo comprises 925 SoHo units with a gross development value (GDV) of RM438 million and is scheduled for handover by this year-end while i-Suite features 825 units with a GDV of RM448 million and will be ready for vacant possession by mid-2017.

I-Bhd said the total sales value of both deals was RM81 million.

“We see the market to be still quite strong for us as we enjoy continued positive take-up rates for the recently launched Hyde Tower,” said I-Bhd marketing director Monica Ong.

She added that most of i-City’s target markets are young adults and I-Bhd’s properties are attractively priced and in an attractive location that has theme parks and tourist attractions, as well as the upcoming Central Plaza Mall.

“We are always in line with the plans of local government and also the government’s Economic Transformation Programme (ETP),” Ong said.

Looking ahead, I-Bhd expected sustained demand for its properties to propel sales growth over the next few years.

Its previous two projects in i-City, namely i-Residence (346 residential units and 20 exclusive duplex-triplex villas) and i-SoVo (220 small office versatile offices) were also fully sold before they were handed over in 2015 and 2016 respectively.

Meanwhile, at the signing ceremony between Chester Properties and i-Bhd today, Minister of Urban Wellbeing, Housing and Local Government Tan Sri Haji Noh Omar said that the ministry is currently surveying and identifying more land for the People’s Housing Project (PPR) and a total of 1,000 units are expected to be built in Selangor by end-2016.

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