28 Tier 2 developers invited for plot R3-1

KUALA LUMPUR (Feb 19): Master developer Kwasa Land Sdn Bhd will invite 28 pre-qualified Tier 2 developers for its next residential plot, R3-1, the biggest thus far, sited on freehold land measuring 24.08 acres (9.74ha) in Kwasa Damansara.

These Tier 2 developers, with shareholders’ funds or paid-up capital of RM200 million and above, include Amcorp Properties Bhd, Asian Pac Holdings Bhd, Encorp Bhd, Gadang Holdings Bhd, Glomac Bhd, Hua Yang Bhd, Ivory Properties Group Bhd, Johor Land Bhd, KSK Group Bhd, KSL Holdings Bhd, Malton Bhd and Mitrajaya Holdings Bhd, among others, according to Kwasa Land’s statement.

This invitation marks the first request for proposal (RFP) for 2016 and the sixth thus far issued by Kwasa Land, a wholly-owned subsidiary of the Employees Provident Fund, for developments in the upcoming township, in which a cumulative gross development value of RM50 billion over the next 15 to 20 years is expected to be generated.

In a statement yesterday, Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh said: “Plot R3-1 has been designated as a development with a residential density of 780 units over 24.08 acres fronting Persiaran Atmosfera, with excellent connectivity to Kota Damansara that leads to the Guthrie Corridor Expressway.”

The development is located in close proximity to proposed schools, a mosque and commercial development plots. As such, it would provide immense interest for property developers and buyers desiring to set up homes in this upcoming vibrant township, Kwasa Land said.

In addition, two mass rapid transit stations within the development spread will provide premium value, as they are approximately within 500m from the Kwasa Damansara station on one side and approximately 750m from the Kwasa Sentral station on the other.

“Plot R3-1 has also the benefit of fronting a lush and extensive 28.91-acre green park complemented by a 13.64-acre lake,” added Mohd Lotfy.

Kwasa Land said that interested bidders are to respond with their RFP submissions by May 17.

Evaluation of the RFPs would be based on three main criteria, namely mandatory requirements, technical and commercial proposals, which include the tender price on a per sq ft basis, together with financial feasibility analysis, it added.

To date, Kwasa Land has in addition to R3-1 called for six RFPs, namely the main town centre development (MX-1) for the Tier 1 category, the first residential development (R2-1) for the Tier 2 category, and bumiputera residential developments R3-2, R3-3 and R3-4.

Kwasa Land is the master developer for the 2,330-acre township development in Kwasa Damansara.

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