Mah Sing: The Icon @ Tun Razak

According to the research report from Aseambankers, The Icon, located along Jalan Tun Razak, which is five minutes away from the Petronas Twin Towers, will comprise two 20-storey office block, is close for sale soon.


The selling price is expected to set a new benchmark around the KLCC area, with an asking price of more than RM600 per sq ft. The costruction work is expected to commence next week. It is the debut for Mah Sing in commercial building. The completion of each tower block is expected to take only 18 to 24 moths as super-structure work can be completed quickly.
The management is expecting good margins of between 30% to 36% for this project. As previously reported in other research report, there is a shortage of Grade A offices at KLCC area and I believe Mah Sing would be able to benefit from the current situation.