PETALING JAYA: Poised to be the go-to lifestyle and entertainment hub in Simpang Ampat, Penang, Iconic Point developed by Iconic Worldwide Bhd (IWB) is completed and handed over to its buyers.
The mixed development project, which is entirely taken up, is the first commercial project in Simpang Ampat that offers semi-detached and detached shop offices with individual shared lifts.
With a gross development value of RM127.81 million, Iconic Point is a 65:35 joint venture project between Iconic Maison Sdn Bhd, a wholly-owned subsidiary of IWB and Iconic Development Sdn Bhd, a subsidiary of Iconic Group.
Iconic Point spans across 8.7 acres of land and features 49 freehold shop offices, with a built-up of 4,350 sq ft for three-storey semi-detached shop offices and a 5,556 sq ft built-up detached shop office. The units come with individual shared lifts.
Commenting on the Iconic Point’s handover, IWB managing director Datuk Seri Tan Kean Tet said it has received positive responses from international branches in Iconic Point such as The Coffee Bean & Tea Leaf, McDonald’s, Starbucks, Family Mart and CU Mart, as well as other tenants such as ZUS Coffee, Secret Recipe and Watsons.
“With multiple choices of renowned F&B brands and other amenities, this is the kind of value that we want to inject to Simpang Ampat as there has not been a commercial development such as Iconic Point in the area. The development also features a four-story boutique hotel at the end of the Iconic Point belt where one can opt for a comfortable respite while still within the vicinity of various amenities.”
Since the relaxation of Covid-19 SOP by the government, the market has seen a noticeable surge in consumer spending as Malaysian have been going out more often and opting for dine-in. Tan said creating such a commercial hub will be a right fit for the growing demand for contemporary lifestyle spaces in the area.
“I am optimistic that Iconic Point will become a significant landmark and be one of the key drivers in bringing vibrancy and eventually to the growth of Simpang Ampat property landscape,” Tan added.
Iconic Point is located near the junction of Jalan Permatang Tinggi and Jalan Bukit Tambun, just off the North-South Expressway. The development is also just a stone’s throw away from nearby KTM Simpang Ampat and in close proximity to mature residential neighbourhoods.
The group is also in the midst of planning a new affordable housing project in Alma, Seberang Perai, Penang, which is expected to be launched in Q4’22. The affordable project entails 751 units of affordable homes and 16 units of shopoffices with a gross development value of RM220 million.
