IJM Land plans to unveil Penduline by end of 2015

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 1,750 sq ft to 2,200 sq ft, said the company’s director Edward Chong at a press conference last night.

“The targetted selling price starts from RM650,000,” 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.

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