RM1,000 psf in PJ

Some of the serviced apartment units at Icon City in PJ already cost over RM1,000 psf.

RM1,000 psf in PJ 
Remember a previous Early Bird article that talked about, how property in Petaling Jaya will eventually hit the RM1,000 per square foot benchmark? Well, that benchmark has been breached.

Coincidentally, it is another property development that belongs to the Mah Sing Group. We are referring to the Icon City development in PJ that spans 8ha (20 acres).

This development is at the intersection of the Damansara-Puchong Highway (LDP) and the Federal Highway, formerly the site of the Panasonic factory within the Sungei Way Free Trade Zone.

Both the Icon Residenz serviced apartment component as well as the I-SoVo (Small Office Versatile Office) component (Phase 1), have exceeded RM1,000psf.

While bookings for the residential units were recorded since last September, it was only last month that actual sales were transacted following approval from the authorities.

And one of the smaller Icon Residenz units at 594sq ft was sold for RM632,000 or RM1,063 per sq ft. This was achieved on May 12 when the development was “officially” launched.

Icon Residenz serviced apartments total 572 units but only 248 units were open for sale. There are five layout options from one-bedroom to four plus one-bedroom units ranging from 557sq ft to 1,795sq ft. The average cost per sq foot is RM986 psf.

The i-SOVO (small office versatile office) units comprise:

- 366 Duplex units, with a built-up from745sq ft to 1,094sq ft
- 91 Simplex units at 436sq ft

Average cost per square foot is RM950 while the highest price unit, in terms of per square foot, was sold for RM1,080 psf.