News: i-City SGT’s footprint to widen with new rezoning plan

Oct 12, 2020

Shah Alam City Council’s (MBSA) new rezoning plan will see the Golden Triangle of Selangor transform to a global centre of technological innovation, much like United State’s Silicon Valley.

Outlining the land use and development for 2021 to 2035, the MBSA Local Plan Draft 2035 listed the proposed developments and townships within Selangor’s six key cities, including i-City SGT, reported The New Straits Times (NST).

The plan will increase the smart technology city’s footprint from 72 acres to 1,766 acres. It will also transform from an ultrapolis development to an economic zone.

Here’s our AreaInsider on Shah Alam. The all you need to know is right here! 

“The plan creates an ecosystem for citizens to be happier, healthier, and wealthier, and to be supported by ubiquitous digital infrastructure. The aim is to make Malaysia the heart of digital ASEAN. i-City SGT, on the other hand, is well-placed to be the heart of digital Shah Alam,” said a senior real estate consultant as quoted by NST.

The proposed plan for the extended area – which spans almost 1,700 acres of land within Section 4 and Section 7 – includes the establishment of a light industrial zone in the western corridor, a technology zone, commercial zone and an education zone in the eastern corridor consisting of two institutions of higher learning, University of Selangor (UNISEL) and Universiti Teknologi MARA (UiTM).

And just like Silicon Valley, the surrounding industrial area would be gazetted for commercial purposes for ICT-related developments.

“You can expect land and property prices to increase in these areas in the coming years. Owners of commercial and industrial properties will benefit greatly from this plan by MBSA,” said the consultant.

“It will be an incubating ground to prepare young graduates/knowledge workers from UiTM and UNISEL for the growing digital economy. The local council will nurture small businesses by providing spaces to incubate young graduates and the growing communities.”

The consultant noted that students from UNISEL and UiTM will significantly benefit from the extended developments as it provides them with future job opportunities.

“If they have been living in Selangor, they can continue to do that by taking up engineering, information technology (IT), and IT-related jobs with local firms and multinational companies (MNCs) when they graduate.”

Prem Kumar, Deputy Managing Director of Jones Lang Wootton Malaysia, said developers are starting to acquire land in Shah Alam in anticipation of the economic zone’s growth.

“A lot of developers are buying off the land as they see the potential and demand for residential and commercial in the future. Now, one may ask why they are buying when the market is in the doldrums, but what we have to bear in mind is that real estate is a mid-term to long-term play. They are buying now to reap the full potential later,” he told NST.

The RM10 billion i-City SGT started 15 years ago and is set for completion in 2035.

Consciously adopting technology in pushing the boundaries of its product offerings, the development’s infusion of technology continues to evolve over time.

“Tan Sri Lim Kim Hong (I-Berhad founder) has the foresight to create an intelligent city that has attracted local investors and foreign direct investments (FDIs). All the data centres that the developer has put in place in i-City years ago have placed them in a fairly superior position compared to others,” said Kumar.

Crowned by the 78-storey SGT Tower, i-City SGT features five Grade-A office towers, three hotels, two convention centres, a data centre, a regional shopping mall and a theme park.

 

Looking for your dream home? Check out Project Reviews for honest and unbiased reviews for 700+ projects (and counting) in Malaysia!

spacer
agent image
agency logo
Tango Balraj
Certified Real Estate Negotiator
REN: 02225
Richland Properties
tangobalraj@yahoo.com
(+60) 12-6013120