KUALA LUMPUR (Nov 29): IJM Land Bhd announced the groundbreaking of Lotus’s hypermarket at its IJM Rimbayu township development in Selangor in a press release on Wednesday. The hypermarket has a 30-year lease term and is set to be completed in 4Q 2024.
IJM Land CEO Datuk Wong Tuck Wai said, “The commencement of Lotus’s groundbreaking marks a monumental stride in our continuous development. This pivotal moment reflects our steadfast commitment to elevating IJM Rimbayu with retail offerings aligned with the community’s expectations.”
According to the statement, the hypermarket has a development cost of RM42 million and will have a built-up area of 64,066 sq ft and 185 surface parking on a 4.48-acre land parcel.
Set to become the largest hypermarket within a 10km radius, the new Lotus’s will feature a fresh produce section, health, beauty and wellness sections, ‘childrentainment’, a food court and other general services, it said.
The new hypermarket will serve an immediate resident population catchment in IJM Rimbayu of 15,930, as well as an additional 30,000 residents residing in the surrounding neighbourhoods within a 5km radius.
“Lotus’s position in IJM Rimbayu is more than just easily accessible,” Wong added. “It serves as a gateway to unparalleled convenience, seamlessly integrated into the neighbourhood’s very fabric. This hub not only caters to the different needs of residents and visitors, but also acts as a catalyst, driving demand for nearby commercial real estate properties. Businesses, eager to capitalise on the increased foot traffic, will find prime opportunities for retail spaces and offices in this bustling locale.”
Lotus’s CEO Saksit Panurach said, “We’re thrilled to be an important part of the IJM Rimbayu family, bringing value, convenience and quality as a one-stop shopping experience to residents and enhancing their overall lifestyle. We aim to create a space for communities to gather and to engage in various family fun activities. Our #KitakanJiran spirit extends beyond retail as we’re devoted to fostering a community-centric environment, enriching the lives of those we proudly serve.”
To date, IJM land has launched 5,472 homes at IJM Rimbayu, with 3,980 units sold, completed and handed over.
The developer is set to complete Uptown @ Rimbayu in 1QFY2024 and Uptown Square @ Rimbayu in 2025. The statement added that J&T is also set to unveil its new warehouse and headquarters in 2026 in IJM Rimbayu.
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Source: EdgeProp.my
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