Joint venture to build RM100m project in Kuching
KUCHING: Yoshikawa Corp & Development Sdn Bhd and state-owned Land Custody and Development Authority (LCDA) are jointly developing icom.square here, billed as Sarawak’s first “corporate lifestyle” commercial development.
Yoshikawa, which had completed several major property projects in Sarawak, is the development arm of Nationlink Group. Nationlink executive director Chai Kun Seng said the icom.square project, sandwiched between the busy Jalan Pending and Jalan Datuk Abang Abdul Rahim, would comprise eight six-storey towers, more than 400 strata-titled commercial units and a covered food and beverage street.
“The project, with a gross development value (GDV) of about RM100mil, will be ready in two years’ time,’’ he told StarBiz yesterday. He said the project was named icom.square as it would be an “intelligent” commercial centre, and that it would also be the city centre’s largest property development, covering six hectares (ha).
Chai said icom.square would be equipped with WiFi facilities, round-the-clock CCTV monitoring and more than 1,000 car parks. The developer will provide central management for the entire development.
The commercial units will be priced from RM188,000 to RM500,000 but prices for the corporate towers have yet to be fixed, according to Chai.
He said since its recent launch, icom.square had received overwhelming response, with the ground floors of the commercial units nearly all taken up.
“We have talked to big corporations, including multinationals, for the sales of the corporate towers.
“The response has been good,’’ he said.
Chai said icom.square would cater to the lifestyle of corporate figures and professionals, and that the planned food and beverage street would provide an ideal environment for them to discuss business.
Yoshikawa’s completed projects included the Kuching Bukit Mata shophouses, Yoshi Square, Mukah’s Boulevard Commercial Centre, and the Tebedu new township at the Sarawak-Kalimantan border.
Nationlink’s two other subsidiaries, Polarwood Sdn Bhd and Nation Horizon Sd Bhd, had completed several major residential and commercial development projects, including the Batu Kawa light industrial park in the state capital.
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