Icon City i-SoVos launch

KUALA LUMPUR: Mah Sing Group Bhd is launching the i-SoVo or Small Office Versatile Office units at its landmark Icon City development in Petaling Jaya at an average RM800 psf.

The units will be open for sale in conjunction with the launch of the Icon City sales gallery on Sunday.

Icon City has a gross development value of RM3.2 billion on a site measuring 19.6 acres. It is situated at the intersection of Lebuhraya Damansara Puchong (LDP) and Federal Highway in Petaling Jaya’s SS8.  

“Icon City’s prominent visibility makes it an ideal location for the product mix in the development comprising versatile offices, corporate offices, lifestyle shop offices, serviced residences and a hotel,” Andy Chua, COO of Mah Sing Properties Sdn Bhd told The Edge Financial Daily.

The concept of i-SoVo focuses on the work environment that offer unparalleled levels of flexibility to owners who desire to set up whatever they wish be it a music studio, office space, art gallery, design house or a private hangout.

There are 283 i-SoVo units comprising two types with built-ups of 745 sq ft and 1,094 sq ft respectively. Prices start from RM599,000 or an average RM800 psf, said Chua. Housed in two blocks of 31-storeys each, all the units are duplexes with double volume high-ceilings. The project also features sky gardens and WiFi infrastructure. The i-SoVo towers are slated for completion in 2014.

Icon City will take eight years to be completed.

The leasehold site of Icon City was purchased in 2009 for RM89 million or about RM104.23 psf. Once completed the project will feature shop offices, a retail mall, residences, a hotel and office towers. It will have more than 3,800 carpark bays. It is estimated to take eight years to be completed.

The first phase of this development was launched in June. It was the 30 Jewels commercial centre comprising 30 lifestyle shop offices of seven and eight storeys on lot sizes of 25 ft by 76 ft for the former and 25 ft by 79 ft for the latter. The selling prices are between RM7.7 million to RM16 million. Already, 19 units with a value of RM192 million have been taken up.

The entire Icon City will incorporate design elements that meet three green standards — Malaysia’s Green Building Index (GBI), Singapore’s Green Mark and USA’s Leadership in Energy and Environment Design (LEED).

The area is accessible via the highways and expressways such as NKVE, Elite, NPE and Kesas. Public transport such as Seri Setia KTM stations and Kelana Jaya LRT stations are within the vicinity of Icon City.

The launch of the i-SoVo will be followed by the launch of the serviced residences at a later date.

This article appeared on the Property page, The Edge Financial Daily, July 15, 2011.