i-City likely to have a spillover effect
PETALING JAYA: Investment in excess of RM1bil during the construction of the CentralPlaza@i-City mall as well as other developments in the i-City project is expected to have a spillover effect on Selangor’s economy, according to I-Bhd.
“We expect our shopping mall to be a super regional shopping paradise that is capable of boosting economic development within the capital city and also the state,” said I-Bhd deputy chairman Datuk Eu Hong Chew who together with Selangor Menteri Besar Tan Sri Abdul Khalid Ibrahim led
Selangor state executive councillors to Central Pattana Plc Ltd’s (CPN) office in Bangkok recently.
CPN together with i-Bhd will develop and manage the RM580mil CentralPlaza@i-City, which upon its scheduled completion in the fourth quarter of 2016, is expected to be the biggest and most modern shopping mall in the Selangor.
The mall project will be developed on 4.5ha freehold land with gross floor area of around 138,000 sq m and net leasable area of around 89,700 sq m.
Entrepreneurs provided the creativity and speed of execution that the public sector was not able to match, Khalid said, adding that the CPN joint venture was in line with the state’s growth plans of focusing on the service sector.
He said the state has approved the establishment of a specialist medical centre that would bring in high-income professionals to the state, which would benefit the mall. “Another strategy for the service sector is the establishment of tourism destinations and retail centres in Selangor. This is one of the reasons why the state conferred the International Park status on i-City,” he said.
“Aside from the development of its theme park and retail centre, i-City’s MSC Malaysia Cybercentre programme also helps to attract the knowledge community to this part of Selangor.”
Publish date: 21/09/13