I-Berhad will focus on social imperatives to enhance its RM10 billion gross development value (GDV) flagship projects’ long-term value, including giveaways of free and subsidised attraction tickets worth over RM20 million.
In its 3Q2023 report, the group said the giveaways will include new attractions to benefit over half a million people between November this year and January next year.
Its group chairman Tan Sri Lim Kim Hong said in November, it will launched its “One Shah Alam, One Destination”, which is an ESG programme.
“(The programme) pledged to bring generations of individuals and families together to enhance tomorrow’s societal construction, in line with the Malaysia’s Madani principles,” he said in a statement today (Oct 28).
Lim explained that through the programme, i-City will be allowing small businesses and government agencies to utilise its spaces for community engagement programmes rent-free up to January next year.
“The free and subsidised attraction tickets will also be utilised to drive footfall to these community engagement programmes.
“By doing so, not only we can contribute towards achieving our five-times footfall target, we are also creating pockets of opportunities for individuals and communities to network and small and micro businesses to grow.
“This attaches i-City with societal values such as diversity and inclusion, social justice, entrepreneurship and flexibility that resonates with the Gen Zs who would make up a large portion of the social construct of i-City with the completion of BeCentral in 2025,” he added.
In the third quarter ending 30 September 2023 (Q3 2023), the group reported a profit before tax of 6.075 million, a 65% plunge from RM17.4 million in the corresponding quarter last year.
Correspondingly, it also recorded a net profit of 5.5 million compared to RM15.6 million in the same quarter last year.
Its 3Q report also highlighted that the One Shah Alam One Destination programme is key to the group’s strategy across all business sectors, including realising its remaining RM5 billion.
Lim said BeCentral Tower 1 has achieved 50 per cent of sales target despite market challenges, and on unbilled sales as of Sept 30, the group has achieved RM122 million compared to RM87 million on 31 December 2022.
The same report also highlights that next month, the Group will be delivering on its last year’s RM10 million lightscape and attraction enhancements pledge.
It’s 10,000 sq ft Immersive Winterland at CityWalk@i-City will be completed on Dec 1, while the 50,000 sq ft Digital Sports Arena and enhanced lightscapes project will be completed by Dec 20 ahead of the impending school holidays.
By Christmas, its 75,000 sqft race-karting facility will be opened to the public.
The group also envisions strengthening its Investment Properties portfolio – Mercu Maybank Premium Corporate Tower, Tier-3 Data Centre, Central i-City Mall, and car park blocks – with the additional footfall the ESG programme will drive.
In line with the group’s aspirations to become a regional hub for multinational corporations, financial institutions, and fintech companies, the group partnered with CelcomDigi last month to integrate advanced technology and preparing for the acceleration of 5G utility.
On the other hand, the Leisure and Hospitality segment is performing well. DoubleTree by Hilton i-City has been successful in its first year, contributing significantly to the overall development.
