IOI Properties Unveils Bangi Fresco, Elevating Lifestyle In Klang Valley South

BANGI, March 20 (Bernama) -- IOI Properties Group Bhd (IOIPG) has unveiled Bangi Fresco, the next evolution of its signature Bandar Puteri Bangi township, further elevating the lifestyle landscape of Klang Valley South with a dynamic new retail hub.

Spanning 4.98 hectares, Bangi Fresco introduces 100,000 square feet (sq ft) of planned retail space, featuring 24 shop units, five waterfront dining outlets, four drive-through outlets, and a planned 19,000-sq ft grocery operator.

It will also house a 10,000-sq ft event hall and a sports centre, offering a one-stop lifestyle and essentials destination.

Speaking to the media at the unveiling of Bangi Fresco here today, IOIPG group chief operating officer Teh Chin Guan said Bangi Fresco follows the success of the Sierra Fresco street mall in 16 Sierra, Puchong South.

“Catering to the growing population of Bandar Puteri Bangi and surrounding communities, Bangi Fresco offers a comprehensive range of retail and lifestyle amenities.

“The retail hub will be owned by IOIPG and managed by our award-winning leasing team,” he said.

bootstrap slideshow

Teh highlighted that Bangi Fresco is designed to meet the increasing demand for upscale lifestyle dining and retail options in the area, which is currently dominated by mid-range offerings.

“We are investing over RM30 million to create a curated street mall experience, incorporating covered open-air retail spaces that promote natural lighting, ventilation, walkability, and flow.

“While discussions are ongoing, we are targeting an upmarket grocer, a lifestyle gym (gymnasium), and an event space operator to anchor our tenant mix, with full occupancy targeted upon completion,” he added.

Located adjacent to IOI Galleria @ Bandar Puteri Bangi along Jalan Mahkota 1, Bangi Fresco will feature multiple access points via Laman Puteri 1, Laman Puteri 2 and Persiaran Mahkota 1.

With over 350 parking bays, the hub is designed to accommodate large-scale community events and regular patrons. The project is scheduled for completion by the third quarter of 2026.

Head of leasing (retail) at IOI City Mall Aileen Goh said Bangi Fresco is in the final stages of securing anchor tenants.

“We are currently finalising agreements with a grocer and a fitness centre. We are looking to introduce a unique food concept new to this area for the event hall.

“The drive-through outlets are also a key attraction given the prime location,” she said while emphasising that  Bangi Fresco is designed as a community space.

With strong market demand and strategic planning, IOIPG is positioning Bangi Fresco as a transformative lifestyle and retail hub, reinforcing its commitment to holistic township development.

Asked about the company’s outlook, Teh said IOIPG is gearing up for further expansion in Malaysia and Singapore.

We are on track for the Malaysian segment and expect to launch a condominium project in Singapore soon.

For the second quarter of its financial year ending June 30, 2025 (2Q FY2025), IOIPG reported a lower net profit of RM94.78 million compared to RM121.50 million in the same period last year.

However, revenue rose to RM729 million from RM606.90 million, driven by strong property investment and hospitality performances.

For the first half of FY2025, net profit stood at RM163.95 million, down from RM295.94 million previously, while revenue increased to RM1.42 billion from RM1.25 billion.

Meanwhile, on the domestic front, general manager for Bangi and Sepang Wong Peen Fook said there will be upcoming launches in Bandar Puteri Bangi, which include 18 shop units of linked semi-detached shops within this financial year.

“We still have about 80.94 hectares of land in Bandar Puteri Bangi for future developments.

“We will continue to introduce new products based on market demand. The property market is evolving, and we need to adapt to meet current revenue trends and buyer preferences,” he said.

-- BERNAMA