Penang Chief Minister Chow Kon Yeow (4th from left) together with Iconic Worldwide Bhd managing director Datuk Seri Tan Kean Tet (4th from right).
PETALING JAYA: Iconic Worldwide Bhd
has completed its Iconic Point mixed development project and handed it over to its buyers.
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.
With a gross development value (GDV) of RM127.81mil, 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.
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,” Tan said.
He said since the relaxation of Covid-19 standard operating procedures by the government, the market had seen a noticeable surge in consumer spending as Malaysians had been going out more often and opting for dine-in.
“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 said.
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 the fourth quarter of 2022.
The affordable project entails 751 units of affordable homes and 16 units of shopoffices with a GDV of RM220mil.
