KUALA LUMPUR: Iconic Worldwide Bhd (IWB) has completed its Iconic Point mixed development project and handed it over to its buyers recently.
With a gross development value (GDV) of RM127.81 million, Iconic Point is a 65:35 joint venture between Iconic Maison Sdn Bhd, a wholly-owned subsidiary of IWB and Iconic Development Sdn Bhd, a subsidiary of Iconic group.
The mixed development, 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.
The handover ceremony was held on Tuesday.
"We are pleased to create a new lifestyle hub in Simpang Ampat," said IWB managing director Datuk Seri Tan Kean Tet.
"We have managed to receive positive responses from international branches in Iconic Point such as The Coffee Bean & Tea Leaf, McDonald's, Starbucks, Family Mart and CU Mart.
"Not forgetting our other tenants such as ZUS Coffee, Secret Recipe and Watsons."
Tan added that since the relaxation of Covid-19 standard operating procedures by the government, the market had seen a noticeable surge in consumer spending as Malaysian had been going out more often and opting for dine-in.
He said that creating such a commercial hub would be the right fit for the growing demand for contemporary lifestyle spaces in the area.
Iconic Point spans across 3.5 hectares 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.
IWB Group is also in the midst of planning a new affordable housing project in Alma, Seberang Perai in Penang, which is expected to be launched in the fourth quarter of 2022.
The affordable project entails 751 units of affordable homes and 16 units of shop offices with a GDV of RM220 million.