i-City mall seen raking in RM40 rental income yearly

Posted on | April 24, 2007

By BERNAMA

THE RM400 million shopping mall project in i-City, Shah Alam, is expected to rake in about RM40 million in rental income yearly for I-Berhad, chairman Datuk Lim Kim Hong said.

Lim said the mall, expected to be completed in 2010, would have one million sq ft lettable area housing three-and-a-half floors that would have two department stores, 280 shops, 10 entertainment outlets and 2,500 car park lots.

“Once completed, we expect rental income of RM40 million per annum. We anticipate the rental will increase every three years after that,” he said after the company’s annual general meeting in Kuala Lumpur today.

The yet-to-be-named retail mall forms an integral part of the first phase of i-City, the company’s first major foray into information and communication technology-enabled property development that was announced last year.

With the first phase of its 44 units of landed shops and offices expected to be completed by year-end, i-City is earmarked as a premier Multimedia Super Corridor (MSC) investment location for Selangor and is the first MSC-cybercentre in the state.

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