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PETALING JAYA (July 8): Darul Ehsan Investment Group’s (DEIG), the Selangor government’s new investment fund, is seeking partnerships to jointly develop several parcels of land in Shah Alam, Gombak and Bukit Beruntung, reports The Edge Financial Daily today.
In a statement yesterday, the state government said that DEIG’s property arm, DEIG Land, will assume the role of land owner and strategic investor for the developments.
DEIG targets a gross development value (GDV) of RM10 billion for the first phase of its joint ventures (JV).
In a report by The Edge Financial Daily on June 1, Menteri Besar Inc of Selangor (MBI) group COO Soffan Affendi Aminuddin said DEIG would be developing five new townships worth RM10 billion for Selangor this year.
He had also said that DEIG would identify the five joint venture partners by year end.
DEIG, which is 100% owned by MBI and functions as a catalyst for Selangor’s Strategic Investment Unit, has been tasked to consolidate and rationalise state assets valued at some RM30 billion.
DEIG Land is inviting expressions of interest to participate in the joint development of the lands via a Request for Information (RFI) exercise.
The RFI exercise is open to all applicants with a paid-up share capital of at least RM1 million and above as well as a total cumulative experience of 30 years in property and building development, spread among a maximum of five management staff.
The RFI exercise closes this Friday.
Only shortlisted applicants will be notified and invited for the Request for Proposal stage.
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