Recurring rental income is carrying more of the load at I-Berhad. The developer behind i-City in Shah Alam said profit before tax (PBT) from its property investment segment rose 30% to RM20.0 million for the nine months ended 30 September 2026, up from RM15.4 million a year earlier.
The segment makes up roughly two-thirds of the group’s shareholders’ funds, and it is fast becoming the steadier part of the business while property development moves through a quieter phase. The company said the result reflects its focus on active asset management across the township.
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What Drove I-Berhad’s Property Investment Profit
The gain came from several income streams inside i-City. Mercu Maybank continued to deliver stable rental income, the group’s data centre was fully occupied, and car park operations added to the total.
I-Berhad also booked a higher share of results from Central i-City Mall, in which it holds a 40% stake.
These revenue sources carry relatively low additional operating costs. That helps the segment hold up even when other parts of the business slow down.
Group Earnings Reflect the Development Cycle
At group level, the numbers were softer. Revenue for the nine months came in at RM130.6 million and PBT at RM37.7 million, compared with RM205.6 million and RM53.4 million in the same period last year.
The company put the decline down to timing in its development cycle. Development income during the period came mainly from selling the remaining units in completed projects.
Against that backdrop, the RM20.0 million from property investment was equal to more than half of group PBT.
CityWalk Repositioned Around AI and Robotics
To lift rental income further, I-Berhad is working with Savills Malaysia to reposition CityWalk as an AI and robotics retail hub.
The plan is to bring in new business concepts, improve the tenant mix, draw more visitors and raise rental performance. It also ties CityWalk into i-City’s wider AI Living concept, which links the township’s homes, offices and leisure spaces.
i-Ris Opens the Next Development Phase
On the development side, I-Berhad still has about RM5 billion in remaining gross development value (GDV) at i-City.
The next project to draw on that pipeline is i-Ris, AI Living @ i-City, a proposed 500-unit residential development. It was launched digitally in October 2026 and is targeted for completion in 2030.
Its central feature is an AI companion, also called i-Ris, designed to learn residents’ preferences and coordinate daily needs through AI, robotics, wellness and lifestyle services.
The group is now working on marketing, technology partnerships and the AI companion itself. Signing of Sale and Purchase Agreements (SPAs) is targeted to begin in April 2027.
I-Berhad sees the project as a key step in turning i-City from a digital city into an urban centre built around AI and robotics.
AI Concierge Heads to i-City’s Leisure Businesses
The group is also bringing AI into businesses it already runs. Towards the end of 2026, it plans to introduce an AI Concierge built on capabilities developed for i-Ris. The service will offer personalised guest assistance and help visitors access i-City’s leisure, hospitality and lifestyle offerings.
It will sit alongside the AI World Experience Centre, which opened in January 2026 and lets visitors try AI and robotics in real-world settings. Together, the two put the technology in front of hotel guests and day visitors, not just future homeowners.
What’s Next for I-Berhad
The group’s immediate priorities are to improve returns from its investment properties, move i-Ris towards sales, and roll out AI-enabled services across its existing operations.
The approach pairs steady recurring income with a longer-term development pipeline, as I-Berhad looks to raise the value of its i-City assets for shareholders.
About I-Berhad
I-Berhad is a Main Market-listed property developer and the master planner of i-City, a 72-acre integrated development in Shah Alam, Selangor. Its developments include BeCentral Serviced Residences, DoubleTree by Hilton i-City and i-City Finance Avenue. More information is available at i-bhd.com.
