This article first appeared in City & Country, The Edge Malaysia Weekly on August 12, 2024 - August 18, 2024

IJM Land Bhd’s Promenade has achieved a take-up rate of 95%. The commercial development is located in IJM Land’s 1,897-acre leasehold Bandar Rimbayu township in Telok Panglima Garang, Selangor.

“The take-up rate is a significant achievement, as it indicates a robust demand and strong interest from both investors and businesses alike. This high rate reflects positively on several key factors contributing to Promenade’s success,” says IJM Land senior manager Chai Kian Soo in an email interview with City & Country.

Launched in March this year, the project has a gross development value (GDV) of RM300 million and will have 110 shoplots with 2- and 3-storey options, offering built-up sizes of 3,476 sq ft, 3,926 sq ft and 6,936 sq ft. There will be a total of 967 parking bays, with 20 dedicated to the disabled and 403 parking spaces for motorbikes. The selling price of the shoplots ranges from RM2.08 million to RM4.99 million and they are expected to be completed in 2027.

Chai credits the location’s appeal, quality infrastructure, sustainable features and favourable market conditions for the good response of the development.

“The positive response to The Promenade is also indicative of current market trends, where businesses actively seek modern, sustainable and well-equipped commercial spaces that align with their operational needs and meet customer expectations,” he says.

Chai adds that the profile of interested buyers is diverse and includes retailers, service providers, community-focused services, those seeking to set up their corporate offices and technology-driven businesses including co-working spaces that drive the growth of digital entrepreneurship and innovation.

Located in the Fauna precinct, the development will complement the daily needs of residents in the precinct.

“The idea behind IJM Land’s Promenade at Bandar Rimbayu is for a vibrant and dynamic commercial hub with the theme of Playful Urban Oasis. Inspired by ancient Roman promenades, it aims to be a central gathering place for social interactions and community engagement with diverse experiences,” says Chai.

Aimed at being different from other commercial components in IJM Rimbayu, the development has sustainability at the core of its design. Among the features are a north-south orientation, solar photovoltaic panels, natural cooling and ventilation systems, inclusive design such as external pathways and obstacle-free zones for disabled individuals as well as family-friendly amenities.

Meanwhile, its strategic position at junctions that lead to major highways allows it to serve as a layover for travellers and a catchment area for local footfall.

As for upcoming developments in the Bandar Rimbayu township, Chai says IJM Land has two residential projects in the works: Anthea and Meta Residences.

Anthea offers 2-storey superlink terraced houses with a land area of 24ft by 80ft as well as 2-storey semi-detached houses with a land area of 40ft by 80ft. The selling price starts at RM1.5 million (superlink units) and RM2.5 million (semi-detached units). Meta Residences, a serviced apartment, will have 333 units with built-ups ranging from 550 to 1,000 sq ft. The selling price will start at RM250,000. Anthea is expected to be soft launched in September this year while the launch date for Meta Residences is yet to be determined.

Meanwhile, Avela has achieved a take-up rate of more than 90%. Launched in May 2023, Avela comprises 445 two-storey terraced houses and has a GDV of RM572 million.

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