Mah Sing Group's Icon City Petaling Jaya racks up RM426.5million sales during show gallery launch

Mah Sing racks up sales of RM426.5million from flagship commercial project Icon City in Petaling Jaya. Launch of new concept i-SoVo (small office versatile office), 30 Jewels (7&8 storey shop offices) and Gourmet Street (1&2 storey retail shops).
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* Mah Sing
* Icon City
* i-SoVo
* Commercial Project

* Business
* Property

* Kuala Lumpur - Wilayah Persekutuan - Malaysia

July 18, 2011 - PRLog -- Mah Sing Group Berhad hosted the official launch of Icon City’s Show Gallery at the project site in SS8, Petaling Jaya over the weekend to overwhelming response from the public.  Sales of RM426.5million were racked up from the commercial i-SoVo (small office versatile office) units, 30 Jewels (7&8 storey shop offices) and Gourmet Street (1&2 storey retail shops).

Buyers were able to enjoy DIBS 90% financing even for 3rd and 4th properties onwards on the commercial i-SoVo project in Icon City. (DIBS – pay 10% and nothing else until completion).

i-Sovo is part of Phase 1 of Mah Sing’s flagship commercial project, Icon City which enjoys exceptionally high visibility as it is right at the intersection of LDP and Federal Highway.  It has a total gross development value (GDV) of approximately RM3.2billion, to be developed in 3 to 4 phases.  

Products                  Take up
Phase 1
30 Jewels (7&8 storey shop offices)      29 units, 96%
i-SoVo Tower 3 (198 units commercial)      138 units, 80      RM426.5million
Gourmet Street (1&2 storey retail shops)      12 units, 37%
Phase 2 (official opening today)
i-SoVo Tower 3A (212 units commercial)


i-Sovo comprises 410 units; Tower 3 with 198 units and Tower 3A with 212 units.  These well-designed duplexes come with built ups of 745sqft and 1,094sqft, priced from RM599,000 onwards.

During the launch, 80% of Tower 3 or 138units were snapped up.  Due to the overwhelming response, Tower 3A was opened up on Sunday evening and 10 units were taken up.  Over a single weekend, 148 i-Sovo units were sold.

i-SoVo will feature double- volume 23ft high ceiling that separates the work and private space. It will also be surrounded by natural and sky gardens landscapes to provide a tranquil ambience. Facilities proposed to be incorporated include a business or secretarial centre with video conferencing facilities and executive club with lounge, gym, Jacuzzi pool and sauna. The i-SoVo units will also be equipped by an automated waste system and WIFI /high speed broadband infrastructure. Buyers shall enjoy free legal fees on sales and purchase agreement, loan legal fees and disbursement.

A family affair with international flair
The launch was organized as a complete family affair, with buyers streaming into the show units and property gallery continuously while the children were entertained by clowns, magicians and various activities such as face painting and bumper boat rides. Treated with free flow of cotton candy and pop corn, the crowd was also entertained with the exquisite performance of world renowned violinist, Ms Joanne Yeoh together with other performances which included a strings quartet, belly dancing by young professional dancers and jazz numbers.

Situated in the heart of Petaling Jaya, Icon City offers a contemporary live work and play concept within a green and sustainable development. The market catchment is extensive, including matured and affluent neighbours such as Kuala Lumpur, Subang Jaya, USJ, Shah Alam and Damansara.

“Icon City shall be an integrated development as buyers like this concept.  We are investing on a comprehensive traffic dispersal system to improve access, and this will greatly ease the congestion issue that had plagued this location for the past few years.   Some analysts and industry experts have opined on the potential for the third MRT line from Kuala Lumpur to Klang to pass through the project, and if that materialize, would greatly enhance the access to an already well connected project,” said Mah Sing Group Managing Director cum Group Chief Executive, Tan Sri Dato’ Sri Leong Hoy Kum.

“As connectivity is a major appeal, Icon City’s strategic location with accessibility via a network of highways such as NKVE, ELITE, NPE and KESAS and public transportation via road or rail such as the Seri Setia and Setia Jaya KTM stations and Kelana Jaya LRT station, would serve the business community and residents well.  We expect to open registration for the serviced residences with sizes ranging from 563sqft to 1,779sqft by 3Q2011,” said Andy Chua, Mah Sing’s Chief Operating Officer.

Icon City is poised to be amongst the first in the Southeast Asia to be certified by Leadership in Energy and Environment Design (LEED), USA and Green Building Index (GBI), Malaysia and Green Mark, Singapore and be the ultimate integrated development in Petaling Jaya.

The show gallery is now open to the public from 10 am to 6pm daily.

Product         : Small Office Versatile Office
Gross development value   : RM226million
Total Block         : 2 blocks (Tower 3 and Tower 3A)
No of Level         : 31 storeys (including 3 podium car park)
No. of Units         : 410 units   
Type & Built-up Area      : Type A – 745sf ; Type B – 1,094sf
Selling Price         : from RM599,000

Special Features
•   i-Sovo will sit on 3 storey podium car park, and Level 4 will be the main lift lobby
•   Level 4 will house the main lobby and feature a landscaped plaza
•   Level 5 & 6 will house a proposed business / secretarial centre with video conference facilities and a proposed Executive Club with gym, Jacuzzi pool & sauna facilities
•   There shall be sky gardens on Level 11 as well as Levels 18 &23A
•   From Level 8 onwards, the duplex units shall enjoy double volume high ceilings
•   WIFI / High-speed broadband infrastructure

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Listed on the Main Board of Bursa Malaysia, Mah Sing is Malaysia’s premier lifestyle developer with trendy, quality properties in prime & strategic locations.

With 17 years of property development expertise, Mah Sing is a fully integrated developer of residential, commercial and industrial projects. The Group’s 34 projects in Malaysia are focused in the property hotspots of Kuala Lumpur, Klang Valley, Penang island and Johor Bahru.

With numerous international and domestic awards, the Group has established a strong branding in medium to high end landed residential properties, commercial projects including Grade A office buildings, offices, shops, retail and SoHo as well as industrial projects.
Source:Lyanna Tew
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Phone:+603-9221 8888
Tags:Mah Sing, Icon City, i-SoVo, Commercial Project
Industry:Business, Property
Location:Kuala Lumpur - Wilayah Persekutuan - Malaysia
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