PETALING JAYA: I-Berhad is cautiously optimistic as it navigates the challenges in 2023 with careful planning and a clear focus on its long-term growth.
“I-Berhad’s flagship, i-City, No. 1 Technology City, with gross development value (GDV) of RM10 billion, to date, have successfully executed a substantial portion of the project, while still retaining a noteworthy RM5 billion GDV earmarked for future development endeavours.
“We are confident that i-City is driving robust growth to the group’s property development segment. The group continues to grow our project development segment with the latest projects such as BeCentral residences and Twenty8 and 8Premier corporate/retail spaces.” said its chairman, Tan Sri Lim Kim Hong.
“For the previous residential launches in i-City, worth about RM1.8 billion, the group has achieved significant success with strong interest from the public in purchasing residential properties within i-City. This is also a testament to i-City’s sales of BeCentral Tower 1, where 42% of its 474 units had already been sold. Given these promising indicators, the group is hopeful that its property development segment will continue to spearhead the growth,” he added.
The group has meticulously built and crafted an awe-inspiring investment properties portfolio worth RM1 billion that includes Mercu Maybank, DoubleTree by Hilton, the certified Tier-3 data centre, and the central i-City Mall as well as car park blocks. The long-term strategy of the group is to allocate 50% of capital to property Investment to take advantage of opportunities in the digital economy, as there are plans to launch two 100,000 sq ft hyperscale data centres in the pipeline.
“Looking forward, we are confident that i-City is poised to be an attractive hub for multinational corporations, financial institutions and fintech companies. We believe that our involvement in the Next Generation AI Smart City Project and the imminent deployment of 5G technology underline this vision as we stand prepared to capitalise on opportunities that emerge with the anticipated global market recovery,” Lim said.
As of March 31, 2023, the group's unbilled sales stood at RM94.5 million, compared with RM50.9 million on March 31, 2022. This upward trend provides I-Berhad a strong foundation for continued sustainable growth.
