Iconic Worldwide unit eyes 70% take-up rate for Iconic Harmony project

KUALA LUMPUR, 4 AUGUST 2026 —

KUALA LUMPUR — Iconic Worldwide Bhd’s subsidiary, Iconic Maison Sdn Bhd, expects over 70% take-up for its Iconic Harmony project in Bukit Mertajam, Penang, driven by strong buyer demand. The 751-unit freehold residential development, with a gross development value (GDV) of RM300 million, is priced from RM280,000 per unit, featuring 900 sq ft units with three bedrooms and two bathrooms.

Executive chairman Datuk Seri Tan Kean Tet highlighted the project’s affordability and quality as key drivers of interest. Fully-furnished packages are offered to ease buyers’ renovation costs, with payments integrated into their loans. The project, located in Alma, Bukit Mertajam, is slated for completion in Q1 2028.

Affordable luxury with premium amenities Iconic Harmony is marketed as an "affordable luxury" development, boasting over 30 facilities, including infinity pools, a children’s water playground, a half-court basketball court, a jacuzzi, green spaces, a gym, and community hubs. The project’s retail component, comprising 16 double-storey shop lots, sold out in five minutes during its soft launch, reflecting high commercial demand.

Tan noted that the strong response mirrored the success of the show unit launch last month, positioning Iconic Harmony as one of the group’s most promising projects. The development’s strategic location near Jalan Rozhan and Jalan Alma offers proximity to amenities such as F&B outlets, banks, schools, Bukit Mertajam Hospital, and supermarkets like Aeon Mall and Lotus’s Hypermarket.

Malaysia’s affordable housing market dynamics The project aligns with Malaysia’s ongoing demand for affordable yet well-equipped housing, particularly in Penang, where urbanization and infrastructure growth drive real estate interest. Iconic Worldwide’s emphasis on integrated furnishings and community-centric design reflects broader trends in Malaysia’s property sector, where developers balance cost efficiency with lifestyle offerings.

Sector and company specifics Iconic Worldwide, listed on Bursa Malaysia, continues to expand its residential portfolio with mid-market projects. The RM300m GDV for Iconic Harmony underscores the group’s focus on high-density, value-driven developments. The rapid sell-out of retail units suggests strong investor confidence in Penang’s commercial real estate.

Outlook and challenges While demand remains robust, industry watchers note that execution risks—such as construction timelines and financing—could impact completion. However, Iconic Harmony’s pre-launch traction and strategic location mitigate some concerns. Analysts will monitor sales progress as the project advances toward its 2028 completion target.