IOI Properties To Develop RM12 Bln Rio City Over 12 Years
PUCHONG, Oct 29 (Bernama) -- IOI Properties Group Bhd (IOIPG) has unveiled the IOI Rio City masterplan, a 40.46-hectare (100-acre) integrated development valued at RM12 billion over 12 years.
Group chief operating officer Teh Chin Guan said the development, which is the last prime land it has in Bandar Puteri Puchong, aims to transform Rio City into a 'city within a city' with high standards similar to its development concept in Singapore that comes with various amenities and landscaping.
"The key component to this development will be the shopping mall called IOI Mall Rio. It will be a one million square feet rentable area with over 300 retail outlets. There will be interesting tenants beside an international major anchor, convention centre and sports complex.
"IOI Mall Rio follows on the successful track record of our vibrant retail portfolio with landmarks such as IOI City Mall and IOI Mall Puchong," he told reporters today during the group's showcase of IOI Rio City here.
A US-based architecture and planning firm, Arcadis, will design the development as community-centric with sustainable living solutions that will include electric vehicle (EV) chargers, solar panels and rainwater harvesting.
Teh said IOIPG is fully committed to addressing the concerns of residents and motorists, as it contributed to the government's ongoing flood mitigation project along the Lebuhraya Damansara Puchong, due for completion this December and has assured that the entire Bandar Puteri area is on high ground.
"Well-planned infrastructure and the implementation of a comprehensive, integrated development is the key to sustainable living in IOI Rio City.
"The systematic integration of essential facilities, services, transportation needs, and public spaces will be designed to support the expected economic expansion of this area and also create an attractive investment for developers, residents and potential investors," said IOIPG senior general manager Chung Nyuk Kiong.
IOIPG will also complete close to 1,600 units of lifestyle condominiums, neighbourhood retail outlets and residential houses in the development over the next five years.
Complementing the mall, the masterplan would include a water fountain and a pet-friendly public courtyard, designed as a communal centrepiece to bring people together.
In addition, Chung said the Bandar Puteri Town Park nearby is a signature 4.42-hectare (10.93-acre) urban park home to over 89 flora and 135 fauna species, making it a hotspot for nature watching.
-- BERNAMA