It showcases Mah Sing’s flagship commercial project in Petaling Jaya, Icon City, which will be developed over three to four phases.
Sited at the intersection of the LDP highway and the federal highway, the project enjoys high visibility.
It is located on the former Panasonic land which Mah Sing bought in 2009 for RM89 million or RM102 per sq ft.
Unlike CIMB analyst Terence Wong, I’m not surprised by the turnout and good take-up rate its i-Sovo or small office versatile office units considering Mah Sing’s track record and previous successful launches and previews.
Where I live in Kepong Baru, we had flyers were distributed to our homes regarding its Icon City’s launch of these units on Sunday.
Explaining this new concept at the press conference, Mah Sing managing director and group chief executive Tan Sri Leong Hoy Kum said i-SoVo are commercial suites with modern and yet practical layouts.
Comprising two towers, the units come in built-up of 745 sf ft and 1,094 sq ft with prices ranging from RM599,000 to RM745,676.
Ambitious to change the landscape of Petaling Jaya with its RM3.2 billion Icon City project, Leong announced that the group would have 14 new ramps in place to ease the congestion of this area and improve the connectivity or accessibility.
Owing to the good response towards its first tower's i-SoVo units, in particular the larger size units which were sold out on Saturday (where some 60% of sales were clinched), Mah Sing, which was supposed to offer a total of 283 units from the two 31-storey towers, changed the total number of units to 410.
The two towers will now have 198 (Tower 3) and 212 units (Tower 3A) respectively.
This was made possible by making available more units with smaller built-up which small and medium sized enterprises can afford to own.
Also, they will be able to obtain loans of up to 90% for these units. The residential loan to value restrictions does not apply here.
Andy Chua, chief operating officer of Mah Sing Properties Sdn Bhd, a wholly-owned subsidiary of Mah Sing, said these duplex i-SoVo units are not your typical office.
They are flexible and can be used as a music studio, art gallery and design house.
If you plan to use it as your private hangout, take note that no piping and gas are installed for these units, which sit on a three-storey podium car park with level 4 as the main lift lobby.
Levels 5 and 6 is where the proposed business or secretarial centre will be sited with video conference facilities as well as an executive club with gymnasium, Jacuzzi pool and sauna amenities.
From level 8, the i-SoVo units will enjoy double volume high ceilings while levels 11, 18 and 23A will feature sky gardens.
The i-SoVo units will also be equipped with WiFi/high speed broadband.
Mah Sing had an 80% take-up rate with sales totalling RM426.5 million for its i-SoVo units over the weekend.
Conceived with sustainability in mind, Icon City, will be certified with Malaysia’s Green Building Index, Singapore's Green Mark and the United States’ Leadership in Energy and Environment Design.
The Icon show gallery, which had violinist Joanne Yeoh performing on Sunday, is open from 10am to 6pm daily.
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