IOI City Mall raring to open

IOI Properties Group Bhd’s newly launched IOI City Mall, which is 85 per cent-tenanted, is set to reach full occupancy soon.

“We have an occupancy rate of 85 per cent and the rental rates range between RM10 and RM40 per sq ft. We expect this mall to be fully tenanted by Chinese New Year in February 2015,” said IOI City Mall general manager Chris Chong.

“So far, response has been encouraging. We’re targeting the shopping crowd from the middle- and middle-upper segments from Kajang, Seri Kembangan, Bangi, Puchong, Bukit Jalil, Putrajaya, Cyberjaya and Seri Petaling,” he after the soft launch of IOI City Mall, here, yesterday.

IOI Group founder Tan Sri Lee Shin Cheng and his sons, Datuk Lee Yeow Chor and Lee Yeow Seng, who are IOI Corp Bhd and IOI Properties chief executives, respectively, officiated at the event.

Chong said there were many malls in the northern and central regions of the Klang Valley, but hardly any in the south. “The closest malls to us are Alamanda (Putrajaya) and Mines (Seri Kembangan). People from Seremban also go to these malls due to limited retail options there.”

There is 1.4 million sq ft of net lettable area of four levels with 350 specialty shops in IOI City Mall. Among prominent anchor tenants are Golden Screen Cinemas, Parkson and Tesco.

Other highlights include a 36-lane bowling alley, an Olympic-sized skating rink and an indoor entertainment park called District 21.

Chong said about RM1.5 billion had been invested to build IOI City Mall, two office towers and a five-star hotel. Construction is expected to be completed by 2015.

“Le Meridien by Starwood is expected to come in by the second quarter of next year. We’re also in negotiation with multinational corporations and government agencies to set up office,” he said.

Last month, the government said the detailed planning of Klang Valley Mass Rapid Transit’s Line 2 is under way. The new line will link Sungai Buloh, Serdang and Putrajaya.

Chong said since the mass rapid transit (MRT) alignment ends in Putrajaya, IOI Group is lobbying for future connectivity in the form of an MRT station right next to IOI City Mall.

~ By THE STAR