IJM Land plans to unveil Penduline by end of 2015

Source: Theedgeproperty.com

KUALA LUMPUR (Oct 8): IJM Land Bhd plans to launch Bandar Rimbayu’s seventh phase development, named Penduline – a residential project with a gross development value (GDV) of over RM400 million – by year-end. Bandar Rimbayu is located in Telok Panglima Garang, Selangor.

The new phase consists of 625 units of double-storey link houses, with built up sizes ranging from 1,800 sq ft to 2,200 sq ft, said the company’s director Edward Chong at a press conference last night.

“The average selling price is estimated at RM650 psf, with the lowest selling price starting from RM680,000,” he added.

Since development started two years ago, Bandar Rimbayu has launched 1,818 residential units. It has also handed the first and second phase residential units in the first and third quarter of this year. The 1,879 acre township has a GDV of RM11 billion and IJM Land has plans to deliver 12,000 homes when it is completed.

Chong said the fifth phase development, Wisteria, the first gated-and-guarded township in Bandar Rimbayu, has reached a take up rate of 60% (it was launched in May).

Wisteria comprises 231 units of double-storey link houses with built-ups ranging from 2,388 sq ft to 2,449 sq ft. The selling price starts from RM901,800.

Last month, the company has also unveiled its sixth phase development, Blossom Drive, the first commercial project in Bandar Rimbayu. All 48 units in the phase have been fully taken up.

Meanwhile, Chong announced that IJM Land has entered a partnership with Northstar Associates Sdn Bhd to develop Oasis International School in Bandar Rimbayu.

This 11.9 acre American international school expects to start the first phase development by December this year, with an initial intake of 600 students.

“The first phase of development, consisting of administration building, classrooms, auditorium, sports facilities and parking bays, is set to be opened in the fourth quarter of 2017,” Chong said.

"Last month, the company has also unveiled its sixth phase development, Blossom Drive, the first commercial project in Bandar Rimbayu. All 48 units in the phase have been fully taken up."

only for existing purchasers and staff / associates?
Anyone have further info on the shop houses just launched last month? Dimensions? Footprint? 2/3 storeys? Price? Sales package? Etc...

This post has been edited by Jasoncat: Oct 8 2015, 01:48 PM

Unless it's a corporate tower being specifically built for large corp, else corporate office is tough for sale / rent.

No point of fighting each other. I hold the view these 3 players would establish their own niche products with diff segmentation of buyer groups though there could be some overlapping which shall not be significant.

"Expanded" - it means the Club Village is not in the original plan?

This post has been edited by Jasoncat: Oct 20 2015, 01:55 PM

20×70 is small, in fact is the snallest among the existing launched units. Back to sth simple at this economy
Any idea what's the built up?

Thanks. Boss you nak sapu kah?

For TA (Bayan Residences), buyers are to absorb the stamp duty on loan, loan disbursement fee and the MOT. Built-up of typical intermediate of TA is 2429sf.

Overall, seems to me Wisteria and TA's Bayan Residences quite comparable.

Different product, different features different target segment too...

What's the structure represented by the square frame at the roundabout?

Why it takes 3 years for completion for Penduline? It's individual-titled, isn't it?

I checked. It's a 2-year project.
Btw unless it's a very large scale project or for some unique reason, it will still be 2 yrs for individual-titled dev.

It means the area covered within the squarish frame is to be paved with the coloured bricks? If so, weird to see it cuts across the roundabout.

Hehe... I think nowadays (esp at this market) not so easy to make handsome return upon vp, more so for a township that is just at the quite beginning stage.

Not trying to answer on Chris boss behalf but just to give my view. COCR is the cash on cash return whereby the focus here is more on the real cash (in/out) flows as compared with the ROI which considers the total value of investment.

In whichever case, I think one may need to consider the holding period (ie the annualized return) to justify a decent return.

If already expected the rental yield or absolute rental income will be (very) low, may not worth to rent it out after taking into account the maintenance that may need to incur - unless you know well the tenant will take very good care of your house. Well, leave it untenanted and use it as weekend home is not a bad idea. Lol.

24 hours! Wow! Perhaps there are staff / guard on duty to give drinks / light refreshments to those queueing for long hours.

Good! That little act shows how caring it is

Seremban to KL says KLCC is about 70 km. Distance from Rimbayu to KLCC is not that far as you expect. Lol.

Quite agreed. IJML quite rare (in fact I don't remember if there is any) to give generous discount / package.

RA = Residents Association
DMC = Deed of Mutual Covenants