IOI City Mall Phase 2 will be opening its doors to patrons today (Aug 25 2022).

Strategically located at IOI Resort City, it enjoys a potential population catchment of 3.1 million from nearby townships in southern Klang Valley, namely, Putrajaya, Cyberjaya, Kajang, Bangi, Sepang, Puchong and Seri Kembangan.

When everyone is complaining about an oversupply of shopping malls, the market demand for prime retail spaces is still great. All the time our eyes are just glued to KL City, PJ, and Subang Jaya and ignoring the low-hanging fruit around us.

For example, a Teluk Intan-based property developer can get a piece of land for RM 5 per sqft and build affordable housing. A Kuala Selangor-based developer can get land with a river view for less than RM 90 per sqft and build it with shop lots.

Due to the low land cost of lack of supply for good properties, these areas actually serve as a good playground for developers with lesser capital as the risk to play the game is way lower compared to developing prime commercial land in KL city.

If you would like to check out the areas where there is no supply of shopping malls, you can check them out here.
If you would like to check the areas where there is a minimal supply of residential housing, check it out here.