This article first appeared in City & Country, The Edge Malaysia Weekly on July 18, 2022 - July 24, 2022

All 119 shoplots at Uptown Square in Bandar Rimbayu, in Kota Kemuning, Selangor, were snapped up within a few days of its official launch on June 19.

Launched by township developer IJM Land Bhd in 2013, Bandar Rimbayu is an ongoing 1,879-acre township development with a gross development value (GDV) of RM11 billion. The developer attributes the success of the township to its strategic location and good return prospects, owing to its rapidly growing population.

Uptown Square is the latest commercial launch in Bandar Rimbayu. Developed over two phases, it has a combined land size of 17.45 acres and a GDV of RM308 million. It offers 119 two- and three-storey shoplots with eight layouts, some of which come with a balcony. The built-ups range from 3,300 to 7,539 sq ft, while selling prices start from RM2.08 million.

“Uptown Square is characterised by well-planned placemaking that emphasises high street level vibrancy, consisting of multi-purpose, private-owned space The Barn and an oasis pocket park, which offers the neighbourhood a wide array of options to utilise both the private and public spaces. It may serve as a sporting venue for sports, like basketball, double as a flea or night market, or be an exhibition space or a site for festive celebrations,” Chai Kian Soon, senior general manager of Bandar Rimbayu, tells City & Country in an email interview.

The leasehold shoplots are slated for completion in 2025.

“Bandar Rimbayu’s commercial sector awaits robust development following the purchase of a two-acre parcel adjacent to the township to develop a corporate office tower. This will drive an expansion in buying power, as well as population growth,” says Chai.

He adds that an estimated population of 100,000 is expected at the township over the next five years as more household brands and corporations open outlets and facilities in Bandar Rimbayu.

“We have seen the entry of J&T’s Logistics and Distribution Centre, measuring 30 acres with a proposed investment of RM600 million. Along with J&T, a proposed hypermarket and 3S centre will bring in more  workforce, benefiting businesses such as flea markets, restaurants and others in Uptown Square,” says Chai.

Bandar Rimbayu is currently home to an international school and a grocer, while nearby amenities include a shopping mall, drive-through restaurants, clinics, a commercial hub and a residents’ clubhouse.

The main road that fronts Uptown Square has good accessibility, serving not only the residents of Bandar Rimbayu, but also surrounding areas such as Kota Kemuning. This is one of the unique selling points of the development.

“Bandar Rimbayu’s proximity to the commercial and residential focal points of Shah Alam and Kota Kemuning has changed the district into a high catchment area. This includes having access to four primary entry and exit points, including Lebuhraya Shah Alam (Kesas), Lebuhraya Kemuning-Shah Alam (LKSA), Expressway Lingkaran Tengah (Elite), the South Klang Valley Expressway (SKVE) and the upcoming West Coast Expressway (WCE),” says Chai.

To ensure visitors of Uptown Square enjoy all the services and facilities offered, the development has five entry points with smartly distributed parking lots, he adds.

“We have also incorporated green-centric elements that encourage the use of renewable energy to reduce carbon footprint while benefiting from much lower electricity billing. The solar photovoltaic installations work efficiently to add value to the property.”

IJM Land plans to launch Phase 17 of Bandar Rimbayu in 4Q2022, which will consist of 455 link homes and garden homes with a total GDV of RM464.7 million.  

While Chai is cautious about the outlook for the overall property market due to challenges such as supply chain disruption, labour shortage and raw material and fuel price increase, he expects landed properties to continue doing well, especially medium- and high-end residential units. He notes that the demand for these residences and shopoffices is more elastic, hence there will be less impact on affordability.

“Shopoffices continue to attract investors who see this as an asset class that beats inflation, or at least protects capital in the longer term. This has been proven by the overwhelming response to our 119 shopoffices at Uptown Square,” he says.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's App Store and Android's Google Play.