More suitable to be built in Cybertron

Got that too .... more interested on their event than the property after knowing the price they intended to sell
But again, superb location

You are not alone ....

Icon City vs Sunway Velocity
Which one to bet on if given the choice?
Of coz a lot of us dont have any choice ....

Almost proven early entry can make big bucks!

Icon City i-SoVos launch

Tags: 30 Jewels , Andy Chua , ELITE , Federal Highway , GBI , Green Building Index , Green Mark , i-SoVo , Icon City , Kelana Jaya , Kesas , LDP , Lebuhraya Damansara Puchong , LEED , Mah Sing Group Bhd , Mah Sing Properties Sdn Bhd , NKVE , NPE , Petaling Jaya , Seri Setia , Singapore , Small Office Versatile Office


By Wong King Wai of theedgeproperty.com
Thursday, 14 July 2011 00:00

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, July 17.

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.

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.

for such price, i would prefer it on freehold ....

Icon C vs Sunway V ... which one have better appreciation in terms capital and rental?

500K+ is SOVO wor ... wait till Icon service apartment is launched we'll see a new record set within that area

if lets say abandon maybe TMS will replace buyer with another unsold unit of other projects i.e icon residence, garden plaza, M suites, M city ....

TMS is developers name. T is a title given to them for being a highly reputable supplier.

Are they going to replace another unit? I hope so....

wow... they really show no mercy on slaughtering investors

Both leasehold I'll pick Eco City due to it's proximity to city and central transport hub

scariest part is alot of these China man are cash driven buyers

Typical MS strategy

You mean RC helicopter right

Any plan for LRT/MRT running into this area in future?

Subang have Empire, Soho (coming soon), First etc.. need to go that far?

I'm more interested on the age group in majority who is buying these SOVOs... anyone?
If they fall in 20s group then .......

Icon City phase two launch by September
By Sharen Kaur
Published: 2011/07/19


KUALA LUMPUR: Mah Sing Group Bhd, the country's fifth largest developer by revenue, will launch by September the second phase of Icon City in Petaling Jaya, Selangor, featuring 570 units of serviced residences worth RM439 million.
Group managing director-cum- group chief executive Tan Sri Leong Hoy Kum is upbeat that the units, worth RM450,000 to RM1.2 million each or RM700 to RM800 per sq ft, will be snapped up during the launch.

The residences come with space sizes of 550 sq ft to 1,779 sq ft.

"The right product in the right location will always sell well. We are bullish on the outlook led by the Economic Transformation Programme," Leong told Business Times.

Leong's confidence is further boosted by the launch of the first phase of of Icon City last weekend, where sales of RM426.5 million were raked in.

Icon City is a RM3.2 billion integrated commercial development located on 7.93ha in SS8, Sungei Way, at the crossroads of the Lebuhraya Damansara-Puchong and the Federal Highway.

The project comprises 30 Jewels (seven- to eight-storey lifestyle shop-offices), Gourmet Street (one- to two-storey retail outlets), i-SoVo (Small office Versatile offices), serviced apartments, and mall, boutique hotel and office towers.

The phase one featured i-SoVo tower 3, where 80 per cent of the units, priced from RM599,000 were sold, as well as 30 Jewels and Gourmet Street.

Some 96 per cent of 30 Jewels, which is worth more than RM10 million each, and 37 per cent of Gourmet Street, comprising 20 retail outlets worth from RM4.5 million, were taken.

Due to overwhelming sales and demand for i-SoVo tower 3, Mah Sing is selling the second block under Phase Two, known as i-SoVo tower 3A, comprising 212 units.

CIMB Research, meanwhile, is maintaining its forecasts and target price of RM3.30 on Mah Sing, based on an unchanged target market price to earnings of 14.5 times, largely because of the impressive take-up for Icon City's phase one.

The RM426.5 million sales achieved by Mah Sing for the phase one make up around 18 per cent to 23 per cent of its full-year sales target of RM2 billion to RM2.5 billion, the research house said.