Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh
KUALA LUMPUR: Kwasa Land Sdn Bhd has awarded the Project R2-1, a proposed residential development covering 12.7 acres in Kwasa Damansara, to Naza TTDI Sdn Bhd.
Kwasa Land Sdn Bhd, which is the master developer for the 2,330-acre iconic township, said on Wednesday that Naza TTDI’s proposal comprised of thematic park, contemporary designs, private green courtyards and recreational club facilities.
Kwasa Land, which is a unit of the Employees Provident Fund, said the company’s bid proposed a gated and guarded community with residences in clusters of four and each unit enjoys an open corner.
The award letter dated Aug 24, stipulated conditions for the parties to finalise and to sign the development rights agreement within 60 days.
Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh said the evaluation adjudicated by an independent evaluation panel stated the bid offered a good net present value (NPV) return to Kwasa Land at approximately RM88mil or equivalent to RM160 psf.
“The bid by Naza TTDI delivered on the desired criteria set by Kwasa Land. The independent evaluation panel are confident that the proposed contemporary living concept and the pricing strategy, best meets market expectations,” he said.
In R2-1, more than 1.8 acres have been allocated for its Central Park which would be designated as a vehicular free zone. The park has a green connectivity towards one of the largest park in Kwasa Damansara Urban Park which is about 42 acres.
The topography includes as much of the land profile and existing rubber trees as well as other existing vegetation to retain the natural beauty of the area preserved in harmony with the well-integrated landscape design. The green area would cover almost 55 per cent of the total built area.
The strategic location of R2-1 is crucial as it is just 200 metres from the central business district of Kwasa Damansara in which two MRT stations are located.
The development is expected to draw immense interest among those in search of a home in the last prime acreage in the Klang Valley.
R2-1 benefits from a well-connected network of three current expressways and a new proposed DASH expressway, two MRT stations and an adjacent Subang SkyPark air terminal.
The evaluation was conducted by two independent panels in two parts, namely quantitative and qualitative evaluations.
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