KUALA LUMPUR: Hypermarket operator Lotus's will open a 64,066-square-foot store at IJM Rimbayu at an estimated cost of RM42 million.
When it is completed in the fourth quarter of 2024, Lotus's @ IJM Rimbayu will be the largest hypermarket in the township.
One of the project's details is a 30-year lease with the township developer, IJM Land.
Lotus's presence in IJM Rimbayu may increase the township's appeal to potential tenants and buyers, which would ultimately support a healthy and thriving local real estate market.
The significant population reach of the township highlights the sizeable customer base that Lotus's will draw in and serve.
To date, IJM Land has successfully launched 5,472 units at IJM Rimbayu, with 3,980 units sold, completed, and handed over to homeowners.
As such, Lotus's at IJM Rimbayu will serve a catchment resident population of 15,930.
The addition of Lotus's underscores IJM Land's commitment to meeting the needs of a growing community, including financing options for high-value items like appliances and electronics.
"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," said Datuk Wong Tuck Wai, chief executive officer of IJM Land.
Wong said that Lotus's position in IJM Rimbayu is more than just easily accessible.
It serves as a gateway to unparalleled convenience, seamlessly integrated into the neighbourhood's very fabric, he said.
"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," he said.
Lotus's will be a key driver for streamlining the shopping process and making it easier for residents to acquire everything they will require for their new abodes.
Wong added that residents of IJM Rimbayu can anticipate a diverse array of amenities, including healthcare, education, hospitality, and the arrival of major corporate offices.
Meanwhile, Wong said that IJM Rimbayu is expected to maintain its remarkable trajectory with additional commercial developments.
This includes projects such as the completion of Uptown @ Rimbayu in the first quarter of next year, Rimbayu @ Uptown Square in 2025, and the unveiling of J&T Warehouse and its headquarters in 2026.