Gadang Holdings Berhad ("Gadang" or "Company") is pleased to announce that it had accepted a Letter of Award from Kwasa Land Sdn Bhd ("Kwasa Land") as its development partner to develop the proposed residential development identified as R3-1 of "Kwasa Damansara Township" District of Petaling Selangor Darul Ehsan.
The award is subject to a definitive agreement to be entered into between Gadang and Kwasa Land.
A further announcement on the details of the award shall be released by the Company upon signing of the definitive agreement.
Kwasa Damansara a future township located on the area of a former rubber estate in the Malaysian state of Selangor that is in the process of being developed. The development is expected to take place over 20 years from 2015 and is part of the Greater Kuala Lumpur Strategic Development Project under the 10th Malaysia Plan announced in 2010.[1]
The project is located on the 2330-acre (939-hectare) site formerly occupied by Rubber Research Institute Malaysia (RRIM) in Sungai Buloh.[1] In 2010, prime minister Najib Razak announced that the land was being earmarked for development.[2] In 2012, the Employees Provident Fund (EPF) subsidiary Kwasa Land Sdn Bhd purchased the land for RM2.8 billion and was tasked as the master developer for the proposed township.[3]
EKUALA 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.
Itu EPF already know they are going to award to Gadang. asked for private placement. this is official, those who knows the deal sapu how many shares? dunno...
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The One •
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Posted by The One • > 2016-09-23 16:47 | Report Abuse
Desperate seller or purposely push down one.. even cutting the sell queues.. just like driving in the emergency lane.. hmm