Iconic Worldwide Bhd’s wholly-owned unit Iconic Maison Sdn Bhd eyes over 70 per cent take-up rate of its newly-launched residential development, Iconic Harmony, with RM300 million gross development value (GDV) due to strong demand from buyers.

Iconic Worldwide executive chairman Datuk Seri Tan Kean Tet said the project has garnered strong interest from purchasers due to its affordable price tag, coupled with the group’s emphasis on quality for all of its products.

He said the project would feature 751 freehold affordable homes within a 36-storey building, whereby each residential unit offers 900 square feet of living space, including three bedrooms and two bathrooms.

“It is priced from RM280,000 onwards. We also offer fully-furnished packages for our purchasers so that they do not have to pay a huge sum of cash for renovation and interior design upon key collection as it will be included in their loan,” he told reporters at the project’s soft launch yesterday.

In a statement following the soft launch, the Iconic Harmony project, which is located in Alma, Bukit Mertajam and expected to be completed in the first quarter of 2028, is now officially open for booking.

“Positioned as an ‘affordable luxury’ real estate development, Iconic Harmony features more than 30 facilities, including infinity pools, a children’s water playground, a half-court basketball court, a jacuzzi, lush green spaces, recreational areas, a state-of-the-art gym room, and community hubs,” the company said.

Tan noted that Iconic Maison held a successful soft launch event yesterday when the retail component of the project, entailing 16 double-storey shop lots, was sold out in five minutes.

“The high demand for commercial units resulted in a competitive selection process.

“Based on the strong response we had during the launch of our show unit last month, we expect this to be one of our most successful projects yet,” Tan added.

Strategically located at the intersection of Jalan Rozhan and Jalan Alma, Iconic Harmony sits mere minutes away from food and beverage outlets, banks, a wet market, schools, Bukit Mertajam Hospital and several supermarkets such as Aeon Mall and Lotus’s Hypermarket.

Source: Bernama

Part of the Sultan Abdul Halim Mu’adzam Shah Bridge (JSAHMS), from KM12.5 to KM18.5, will be closed from Tuesday to Thursday for cable inspection work.

Jambatan Kedua Sdn Bhd (JKSB) said the closure will start from 9am until 5pm throughout the three days and that the contra flow lane will be activated.

“The temporary closure is to make way for cable inspection work on the main span and will operate as usual after the inspection,” it said in a Facebook post today.

JKSB advises road users to observe all signboards and instructions.

“For any enquiries, emergency assistance, or latest traffic updates, users are advised to contact JKSB Hotline at 1-300-30-2828,” it said.

Source: Bernama

Motorists in Farlim, Air Itam, will need to plan alternate routes as a section of Lebuhraya Thean Teik will be temporarily closed from 9pm to 5am on April 22 and 23. This closure, affecting the stretch between Desa Intan and Tanjung Court, is necessary to facilitate construction efforts for the Package Two bypass, which aims to connect Air Itam to the Tun Dr Lim Chong Eu Expressway.

To circumvent the closure, drivers heading from Batu Lanchang to Paya Terubong can use Lengkok Angsana, then Jalan Angsana, rejoining Lebuhraya Thean Teik further along the route.

Conversely, travelers moving from Paya Terubong to Batu Lanchang are recommended to take Jalan Thean Teik to Lintang Thean Teik, exiting back onto Lebuhraya Thean Teik.

The community is strongly advised to heed road safety signs and barriers closely to prevent accidents and ensure smooth traffic flow. As reported in March, the bypass project is halfway to completion and on track to be fully operational by next year. This infrastructure development, which is one of the four packages under the major road and tunnel projects.

The Penang government is optimistic about achieving the target to build 220,000 units of Affordable Housing (RMM) by 2030.

State Housing and Environment Committee chairman, Datuk Seri S. Sundarajoo, said the target is in line with the agenda ‘Housing for All’, which is the state government’s main core in providing affordable housing for the people of this state.

He said that so far, impressive progress has been made, with 157,073 units of RMM currently at various stages of construction, accounting for 71.4 per cent of the total targeted.

“This figure includes 50,700 units already built, 20,249 units under construction, and another 80,124 units in the planning stage,” he said in a Facebook post.

Sundarajoo added that this progress was shared with the Minister of Housing and Local Government, Nga Kor Ming, during his visit to the minister’s office in Putrajaya on Friday.

The delegation was also accompanied by the Penang Housing Board (LPNPP) chief executive officer Ainul Fadhilah Samsudi, and its chief business officer, Fakhurrazi Ibnu Omar.

Meanwhile, Sundarajoo also expressed gratitude to the federal government for approving a total allocation of RM21.175 million for financing 51 projects.

“A total of RM4.98 million of the allocation has been used for 15 projects under the Housing Maintenance Programme for Public Strata Housing, while another RM16.19 million to finance 36 projects under the Malaysian Housing Maintenance Fund for Private Strata Housing,” he said.

According to him, the allocation for the year 2024 is the largest ever received by Penang since 2020.

In this regard, he hopes that with close cooperation between the state and federal governments, more agendas for public housing, especially in Penang, can be continuously achieved.

Source: Bernama

Iconic Worldwide Bhd has received overwhelming support for its recent rights issue and free warrants, signaling a strong vote of confidence from investors. With 1.12 billion rights shares and 749.8 million free warrants oversubscribed, the company is set to embark on an ambitious expansion journey. Scheduled to be listed on the Main Market of Bursa Malaysia on April 25, these instruments will bolster Iconic’s financial position and pave the way for strategic initiatives.

Managing director James Tan Cho Chia emphasized the significance of this oversubscription, highlighting it as an affirmation of the company’s future trajectory. Iconic plans to utilize the proceeds to acquire a strategic land bank asset, a move seen as pivotal in expanding its property portfolio. This acquisition, valued at RM45.7 million by Henry Butcher Malaysia (Penang) Sdn Bhd, includes a 15-acre parcel of freehold land adjacent to the Green Garden residential development in Penang Island.

Tan outlined the company’s vision for the acquired land, aiming to unlock its full value through rezoning and the submission of a new development plan. This strategic approach aligns with Iconic’s goal of delivering greater value to shareholders while capitalizing on the potential of its assets.

Of the RM95.6 million gross proceeds raised, RM39.8 million will be allocated to acquiring Goldenluck Development Sdn Bhd. The remainder will be allocated for the repayment of bank borrowings, working capital, and expenses related to the exercise. This allocation strategy underscores Iconic’s commitment to strengthening its financial position while pursuing growth opportunities.