The first phase of its extension started in 2010 and was completed by 2014. In 2017, the mall underwent a major renovation to further enhance its facilities. In 2021, a landmark agreement was reached between Metro Express Limited (MEL) and Ascencia to integrate a metro station into Phoenix Mall which was completed in November 2022. These significant milestones have strengthened Phoenix Mall's status as a regional shopping and entertainment destination on the island.