(From left) Perak Chinese Chamber of Commerce and Industry Deputy President, Loh Yuen Keong, Lim, Dr Mah, and Liew at the ceremony to hand over the Certificate of Completion and Compliance for the Octagon mixed development.

THE OCTAGON property project in Ipoh is expected to be fully operational in the second quarter of next year.

The RM70mil mixed development, built on the 0.325ha site of the former Yau Tet Shin Bazaar, is also expected to be officially launched in the middle of next year.

One Octagon Sdn Bhd Managing Director Datuk Liew Sew Yee said about 75% of the project’s 138 residential units have been been sold and the company has received many inquiries about setting up businesses in the project’s 21 commercial units.

“All floors starting from level eight up are strictly residential.

“There will be no commercial activities or offices at these floors,” he said.

“This was decided on to better manage and control security,” he added.

Liew was speaking after witnessing the presentation of the Certificate of Completion and Compliance for the project by State Executive Councillor Datuk Dr Mah Hang Soon to One Octagon Chairman Datuk Lim Kok Cheong on Monday.

The Octagon sits on the site of the former Yau Tet Shin Bazaar.

Liew said the commercial floors will be at the bottom three levels of the project.

The commercial units, he said, are not for sale and will only be leased out.

“This is important so we can manage the types of businesses that open in the project,” he said, adding that there will also be four floors for parking with 350 bays.

“The concept is to have the ground floor for food and beverage business, and the first floor for restaurants and local products,” Liew said.

“The second floor will be for cultural-related businesses, maybe like a bookstores,” he added.

Dr Mah said The Octagon will be a landmark in the city and could be an attraction to tourists.

He said, with Ipoh and Perak gaining recognition as a tourist destination, the development,and its retail component would be a welcome destination.

“The area surrounding the development will also be developed as a cultural district.

“I foresee there will be a lot of visitors coming here. We need to be prepared to welcome them,” he said.

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