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KUALA LUMPUR: I-Bhd, the master developer of i-City Golden Triangle which is Malaysia’s No. 1 Technology City, is set to stride forward with confidence as the rebound in its business activities gathers momentum.
Signs of renewed optimi *** and rebound are evident in all its major developments, the company said.
"Passenger traffic is back at 2019 levels of 90 per cent at Central i-City shopping mall which is a joint-venture between i-City and Thailand’s largest retail property developer, Central Pattana group.
"Following the transition to endemicity, the leisure theme park has returned to profitability, and seeing a return to its pre-pandemic foot traffic.
"The i-City Convention Centre (iCCC) is experiencing good take-up, especially on pent-up demand, as events and activities could not be held over the last two years," it said in a statement released after the company's annual general meeting (AGM) today.
Meanwhile, I-Bhd said Best Western i-City achieves occupancy of 65 per cent currently, while bookings for ballrooms and function rooms at the upcoming 300-room DoubleTree by Hilton have been taken up for the first two weeks of the hotel opening, slated for August 2022.
The 52-storey BeCentral, offering luxury homes and targeted to be launched in the third quarter of 2022 (Q3 2022), has already received encouraging bookings, while Mercu Maybank, a 33-storey Grade-A Smart Corporate Office Tower at the Finance Avenue in i-City, is 82 per cent tenanted with a strong pipeline, it added.
I-Bhd registered a pre-tax profit of RM1.7 million for Q1 2022 compared with a pre-tax loss of RM5.05 million in Q1 2021.
"We can hit the road running and would be able to see the signs of improvement within this year itself," said I-Bhd chairman Tan Sri Lim Kim Hong. - Bernama
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