IOI Properties Group Berhad (IOIPG) plans to open phase 2 of IOI City Mall (ICM) by June next year, according to its chief executive officer Datuk Voon Tin Yow.

ICM, located within IOI Resort City in Putrajaya, will be Malaysia's biggest entertainment-cum-shopping mall. The addition of one million square feet of tenanted space in Phase 2 will bring the total net lettable area to 2.5 million square feet.

IOIPG is said to have invested RM500 million in the phase 2 mall extension.

The topping out of phase 2 was commemorated by IOIPG to mark the completion of the mall's structural works on October 6, 2020.

Voon said that with the completion of phase 2, IOIPG's reputation as a reputable retail brand has been cemented.

He said that construction on ICM Phase 2 began in 2018 and has progressed well despite the numerous lockdowns imposed due to the Covid-19 pandemic.

ICM, he said, underpins the group's success in the retail market.

According to him, the mall manages a mixed clientele of local and international brands offering a diverse range of products and services spanning lifestyle, fashion, household, and cuisines.

"We are pleased to inform that despite the unpredictable worldwide scenario of the past few years, we have managed to secure around 70 per cent tenants for the new phase," he said in a statement.

According to Voon, the mall has had a consistent occupancy rate of around 98 to 99 percent since it opened in phase 1 in 2014.

ICM will house 11 anchor tenants, including newcomers AEON, GSC, Proton, the IOI Sports Centre, and the IOI Grand Hall.

In addition to the retail outlets, phase 2 includes a 40,000 square foot exhibition hall, a new cinema concept with an IMAX hall, a modern dining arcade, and a new rooftop sports centre and gymnasium.

The central glass atrium in phase 2 filters natural light through the six-story building, complementing the existing mall's interior and exterior designs.

"With its well-lit interiors, the mall entices shoppers to spend hours within its ambience, as they shop, dine, and enjoy the various entertainment attractions," said Voon.

He said that ICM enjoys a catchment customer population of a conservative figure of 3.1 million people from the many townships mushrooming along the south corridor of the SKVE.

"In this new norm, we must be prepared for various types of eventualities arising from the Covid-19 pandemic. The situation will never be eradicated but, as responsible citizens, all of us must do our part to keep healthy, be vaccinated to keep the cases as low as possible," he said.

IOIPG's total development land bank is about 9,000 acres.

The group constructs and manages investment properties like hotels, golf courses, shopping malls, and office buildings.

Its investment property portfolio currently manages 7.2 million square feet of net lettable area, which includes retail, purpose-built office, and other properties.

The group owns five four- to five-star hotels, including Le Meridien Putrajaya, Putrajaya Marriott Hotel, Palm Garden Hotel, Four Points by Sheraton Puchong, and JW Marriott Hotel Singapore South Beach, with a total of over 1,800 keys.

Palm Garden Golf Club in IOI Resort City and Palm Villa Golf and Country Resort in Johor are also owned by the company.