This article first appeared in City & Country, The Edge Malaysia Weekly on May 12, 2025 - May 18, 2025

I-Bhd (KL:IBHD) founder and non-executive chairman Tan Sri Lim Kim Hong takes a thoughtful pause when asked about the scale of the hospitality market surrounding i-City, the developer’s 72-acre flagship development in Shah Alam, Selangor.

“Well, it’s quite an interesting sight,” Lim says. “Our hotels are bustling every day. From Monday to Thursday, you will see professionals in business attire, attending corporate events. But come Friday to Sunday, the atmosphere shifts — families with children check in, eager for a weekend getaway.”

Currently, i-City features two hotels — DoubleTree by Hilton Shah Alam i-City and Wyndham Garden i-City (former Best Western i-City Shah Alam) — offering a combined total of about 500 rooms. According to Lim, “The average occupancy rate for the two hotels is 80%.”

DoubleTree by Hilton Shah Alam i-City is the only five-star DoubleTree by Hilton in Malaysia, according to him.

Despite the two top-rated hotels in its master plan, Lim notices a consistent demand for additional accommodations in and beyond i-City, especially from families and larger groups, as well as business travellers seeking a short stay in hotel-standard apartments or suites.

“i-City is the Selangor Golden Triangle, endorsed by the state government. The financial hub has strong IT infrastructure as the backbone and is attractive to many MNCs looking to set up their offices here. We receive many regional and international visitors, a substantial number of whom are expatriates temporarily relocating here for work and business,” Lim says.

Owing to the longer stay duration, he notes, more corporates are seeking accommodation beyond the standard hotel room for their expatriate employees, but they are often reluctant to commit to long-term tenancy agreements.

“The demand for hotel suites with a larger room configuration is there for us to tap into, and the prospect is quite promising. That is why we were confident in developing Wyndham Suites i-City, which caters for these needs and builds on the potential we have observed.”

Sitting on 7.5-acres in i-City and a stone’s throw away from the Central i-City mall, Wyndham Suites i-City is a single-tower freehold integrated development with a total gross development value (GDV) of RM323 million.

The 55-storey tower comprises the 200-room, five-star Wyndham Suites i-City hotel, which takes up Levels 39 to 55, as well as 312 branded residences from Levels 12 to 38. Both components have similar unit configurations, with built-ups of 550 to 865 sq ft and at least two bedrooms and one bathroom. The selling price of the branded residences is RM441,000 to RM719,000, or an average of RM800 psf.

I-Bhd owns the asset, US-based Wyndham Hotels & Resorts will manage the hotel, and the branded residences will be managed by a property management team.

The project is in the final stages of construction, with completion scheduled for this September. The Wyndham Suites i-City hotel is slated to open in December and the branded residences are set to be officially launched later this month.

The hotel and branded residences will share the common facilities located on Level 11, which include a 50m infinity swimming pool, 300m jogging track, Jacuzzi, multi-sport court, reflective pond, maze garden, an edible garden, cafés and a lounge. On the ground level, there will also be a grand lobby and pick-up/drop-off point.

Notably, BeCentral, the residential development adjacent to Wyndham Suites i-City, will share selected lifestyle facilities such as such as the swimming pool and gym with the latter on Level 11. Amenities such as café and lounge access operate on a pay-per-use basis are exclusively for Wyndham Suites i-City’s residents and hotel guests. BeCentral, which offers 474 serviced apartments, was officially launched about three years ago and is 65% sold.

Wyndham Suites i-City will be connected to the upcoming Seksyen 7 Shah Alam LRT station. It also has easy access to the New Klang Valley Expressway, West Coast Expressway and New North Klang Straits Bypass Expressway via the Federal Highway.

I-Bhd director Prem Kumar says: “The idea of having branded residences and a hotel in a single tower is not something new in the market or in i-City. Our DoubleTree by Hilton i-City and Hill10 branded residences are a proven example that this model works well here, and the market wanted more.”

Located between Mercu Maybank office tower and Finance Avenue in i-City, Hill10 is the first branded residences in i-City, occupying Levels 22 to 43 in the DoubleTree by Hilton i-City building. The 200-unit branded residences were launched in 2017 around RM1,000 psf and have been fully sold.

The buyers of Hill10 are mostly investors and they enjoy yields of up to 7.2%, owing to its strategic position and brand association. For context, this figure is higher than the average market yield of 6.1% of other branded residences and the 4.3% for non-branded equivalents, according to Prem, who is also a registered property valuer.

“Building on this successful formula, we continue the freehold, mixed-use approach for Wyndham Suites i-City, while enhancing it with greater attention to detail. This includes creating a more homely atmosphere for hotel guests while offering hotel-standard common facilities and extra services [such as access to café and lounge] at a small fee to our residents,” he says.

“The development ensures seamless connectivity to Finance Avenue, where our offices and business hub are located, as well as to the vibrant Central i-City mall, which provides entertainment and convenient amenities for hotel guests and residents.”

He notes that the maintenance fees for the branded residences will be “very competitive”, in part because the developer is the largest shareholder in the overall project. This stake reflects a strong commitment to the design and upkeep of facilities and common areas, ensuring they meet both the standards of the hotel partner and the expectations of buyers in a branded residence development.

“There are many fixtures that will be funded by us during the designing and building stage, which will help to save on the long-term maintenance and manpower cost, such as a facial recognition system and high-speed lifts,” Prem adds.

“As a responsible property developer and the master developer of i-City, we are mindful of the sustainability of our development. We prioritise using green building materials that require minimum maintenance without compromising the building quality to meet our ESG [environment, sustainable and governance] road map, as well as our [hotel] partner’s benchmark for a five-star hotel.”

To appeal to its target hotel guests, the facilities have been deliberately planned and designed with a family-friendly focus, fostering a welcoming, home-away-from-home ambience.

“As our target market includes expatriates, our goal is to make their short stays feel more like home — without compromising on the quality of top-rated hotel service. This approach allows us to differentiate ourselves from other lodging options in the area, rather than compete directly with them.”

Wyndham Suites i-City is the third collaboration between Wyndham Hotels and Resorts and I-Bhd, and the second one in the i-City master plan. The two hotels are within walking distance of each other. The first collaboration between two parties was Wyndham Suites KLCC.

“Wyndham has been a like-minded and trusted partner. Our [first] collaboration on Wyndham Suites KLCC, which features an indoor wet and dry playground in the heart of the KLCC area, was a great success. They are open-minded, innovative and highly receptive to new ideas. This strong synergy has led to the development of Wyndham Garden and, now, Wyndham Suites i-City,” says Lim.

Formerly known as 8 Kia Peng and located on Jalan Changkat Kia Peng, Wyndham Suites KLCC was revamped and relaunched as a hotel and branded residences integrated development in 2023. The 1.05-acre development features 442 units spread across a 50-storey building. The units have built-ups of 718 to 1,738 sq ft and at least two bedrooms, and target short-stay rental investors and family hotel guests.

“Having two of the same hotel brands in i-City is not a concern to me, as they have very different target groups of guests. To me, what is more important is that both teams work very well together, and it has been proven with our two successful hotel collaborations. That is why Wyndham prompted this idea to have another hotel in i-City,” Lim says.

“It is important to understand that Wyndham will never make a new investment lightly. They are one of the largest hotel brands in the world. They have a thorough checklist to go through before committing to another hotel, especially one located so close to an existing one. For them, it is not just about the bottom line — it is about protecting and strengthening the brand. They are not worried about [two hotels] fighting each other because their research and feasibility studies point to strong, promising prospects here.”

For I-Bhd, having a reputable brand set up not one but two hotels reflects strong confidence in the master plan and market demand.

Prem says: “Wyndham is an international brand with a solid corporate clientele that helps support long-term [hotel] occupancy and maintain stable rates for both hotels. While we recognise that introducing different hotel brands can add value to a project like i-City, what truly matters is selecting the right partner that brings the most benefit to all stakeholders — the partner, guests and buyers of the branded residences.”

He points out that, generally, branded residences command rental premiums, unlike similar non-branded units in the same location, thanks to the brand’s perceived prestige and building quality. Affiliation with a globally recognised brand also helps branded residences maintain their property value during economic downturns, offering greater long-term asset resilience.

“When choosing branded residences to invest in, consider the synergy between the brand and the project’s fundamentals,” he says. “A development located within walking distance of business districts, public transit and key amenities tends to perform better over time. Moreover, units designed for both long-term living and short-term rents offer greater flexibility and more resilient income streams. The most successful [branded residences] projects are usually those that not only carry a prestigious name but are also aligned with and enhance the standards of the brand they represent.”

As real estate investors sharpen their focus on yield resilience and tenant appeal, Prem believes branded residences are increasingly outperforming traditional luxury condominiums. These properties, once seen mainly as lifestyle statements, have now become serious investment assets, given their pricing power and the strategic partnerships behind them.

With the launch of the Wyndham Suites i-City, I-Bhd continues to draw investors to i-City, reinforcing its Selangor Golden Triangle status.

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