Rimba Square: August 2014

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Company Background

Launched in Jan 10, 2008, Rimba Square in Gong Badak is designed by Rimba Jaya Development Sdn Bhd (formerly known as Rimba Jaya Industries (1972) Sdn Bhd). It is owned by Dato Cheah Keng Toh and Dato Cheah Keng Meng. Rimba Jaya was incorporated in Malaysia since 1972 and has 41 years of track record in lumber and development sector.

Project – Rimba Square

Rimba Square is located in Terengganu, Mukim Kuala Nerus

It is sitting on a 36 acre prime commercial land. This prime land will be transformed into the fore-front of modern commercial center in Kuala Terengganu. The comprehensive development plan by Rimba Square including the establishment of hypermarket (now in operation by GIANT), and in planning of state of the art commercial office block, shopping mall, college, condominium, hotel and sports center to rival the best that Terengganu has to offer, attracting large crowds from all walks of life. Rimba Square invariably has the potential to be a bustling focal area for the locals as well as a hub for a vibrant business community.

Rimba Jaya’s strategic location also provided inspiration for the designers to capture its full potential by building 97 units of three to six storey shop offices, and the modern design of these commercial offices would satisfy the demanding needs of today’s business community.

Environment Analysis

In 2012, the Gross Domestic Product (GDP) of Terengganu has generated 4.5 per cent last year with the local investment consists a total of RM 531.98 million, providing employment opportunities to 1,664 people. On the other hand, the foreign investment total amount to RM 1.087 billion and provided employment opportunities to 2,701 people. These were contributed by few projects been involved in 2011, namely, the CJ-Arkema biotechnology project, steel project by Eastern Steel Sdn Bhd, iron pellet project by Perwaja Steel Sdn Bhd, and silica project by TRG Industrial Minerals Sdn Bhd. If the economic environment can be sustained, Terengganu’s GDPJ is expected to achieve a growth of 4.5 per cent to 5 per cent this year. (Sultan Mizan Zainal Abidin, 2012)

According to the statement of above, it has been proven that currently the economics of Terengganu is growing from time to time, which indirectly increasing the local citizen spending power, and thus, it is a new potential geographic market to enter.

Beside the growth of economic, currently the social environment of local citizen is another criterion which leads to the success in developing Terengganu. Due to the pass history of political agenda, Terengganu does not come across with a lot of entertainment places such as shopping mall, theater, and K box. In no doubt, this created certain level of inconvenience (time wasting, extra money being spent, and etc) to the local citizens as they have to go far distance away to Kuantan, Kemaman, or even other states such as Kuala Lumpur just to reach such simple facility and daily entertainment.

However, the scenario above does not last long. Due to the support and develop given by government, there are a lot of facilities being built up. Government is preparing to develop Kuala Nerus become another new town in Terengganu which spoken by senator Kuala Nerus- Datuk Mohd Nasir Ibrahim Fikri (Kosmo, 6^th August 2012). However, the power of government still insufficient to develop Terengganu becoming a strong state solely based on its resources as they need to cooperate with the private sector industry together to develop it.

Map of Kuala Terengganu

According to map above has shown that the location of Mukim Kuala Nerus is at a very strategic location. It is nearby to villages such as Kampung Telaga Daing, Kampung Terengganu Golf Resort and Kampung Seberang Takir. Previously, most of the Terengganu local citizens have to reach far to the main capital Kuala Terengganu in order to obtain social facilities such as shopping malls and entertainment facilities, and this is both time and money wasting. Once Rimba Square developed it into a commercial center, it will make convenient to the surrounding citizen, such as public facilities, education institution, social arena, transportation and other beneficial platform which will further improve the living standard of the community.

Population distribution and demographic of Terengganu

(Prepare and Published by Department of Statistics Malaysia, 2010)

From the population table above, it has shown that Kuala Nerus area has the most population in Kuala Terengganu. Its population in Kuala Nerus also surpasses the population in Bandar Kuala Terengganu. Giant hypermarket rented the land from Rimba Jaya Development Sdn. Bhd. and started its operation since 28^th February 2013, The setup of hypermarket - Giant has been highlighted because it shown that Rimba Square has the potential to become a vibrant commercial community around that area. At the same time, the survey and analysis of Giant has proven that density population of Mukim Kuala Nerus is large and they have high spending power.The construction of all 97 units of shop lots will be completed in 2014. Besides hypermarket and office shop lot, Rimba Square also plan to build residential area, shopping mall and an educational hub in that area.

Surrounding Amenities

Proposed Unit PT 37743 & PT 37769

Advantages of the shop lot

1. 4 storey corner unit equipped with Mitsubishi lifts for 15 passenger

2. Large frontage (PT 37743 – 96.93 m²& PT 37769 – 78.22 m²)

3. Fronting main road leading to the main entrance of Giant and Mydin hypermarket (40 meter reserve road) and to other existing and future development projects such as condominium.

4. Ample car park spaces.

5. Large working area

6. Big catchment area (Largest mukim in terms of population serve by only two banks-BSN & Bank Rakyat)

7. Nearby Gong Badak Industry area

8. Near airport

9. Sandwiched between all major universities and Kuala Terengganu city

10. Future government administrative centre

11. High ground floor ceiling

Block A corner lot (size-3606 sf x 4 floor)

Renting price:-

Gr floor - RM 18,030.00 (RM5.00psf)

1^st floor - RM 6,130.00 (RM1.70psf)

2^nd floor- RM 6,130.00 (RM1.70psf)

3^rd floor - RM 6,130.00 (RM1.70psf)

RM 34, 610.00

If any tenant is interested rent the whole block, will be given some discount which the rental price is RM30, 333.00.

Block C corner lot (size -4434 sf x 4 floor)

Renting Price:-

Gr floor - RM 22,170.00 (RM5.00 psf)

1^st floor - RM 7,538.00 (RM1.70 psf)

2^nd floor - RM 7,538.00 (RM1.70 psf)

3^rd floor- RM 7,538.00 (RM1.70 psf)

RM 44,784.00

If any tenant is interested rent the whole block, will be given some discount which the rental price is RM37, 300.00.

Current Site of PT 37743 & PT 37769

Proposed unit Block E

Angle 1

Billboard signage

Existing dual carriage mainroad

Angle 2

Stadium Sultan Zainalaibidin

Surrounding Amenities

Stadium Sultan Zainal Abidin

Petronas Station

Utusan Malaysia

Xiri Enterprise Sdn.Bhd.& Kedai Kasut You

Sabasun 2nd Hypermarket

Emporium Hock Seng

Advantages of the shop lot

1. Big advertisement signboard ( 3 strategic angle to display signboard )

2. Can be seen clearly from two sides of the busy double carriage federal road

3. 6 storey corner unit equipped with Mitsubishi lifts for 15 passenger

4. Fronting main road leading to the main entrance of Giant and Mydin hypermarket (40 meter reserve road) and to other existing and future development projects.

5. Fronting junction.

6. Ample car park spaces.7. Large working area (gr floor : 178.8 m2 exclude corridor, 1-5 floor : 235m2)

8. Big catchment area (largest mukim in terms of population serve by only two banks-BSN & Bank Rakyat)

9. Nearby Gong Badak Industry area

10. Near airport

11. 6th floor roof top to be casted with concrete slab instead of metal decking for security and advertisement purpose

12. Sandwiched between all major universities and Kuala Terengganu city

13. Future government administrative centre

14. High ground floor ceiling

Block E corner lot (size-3283sf x 6 floor)

Renting Price:-

Gr floor- RM 18,710.00 (RM 5.70 psf)