PETALING JAYA: Kwasa Land Sdn Bhd is inviting 23 bumiputra developers to submit proposals for the development of 8.79 acres in the proposed Kwasa Damansara township in Sungai Buloh, Selangor.
It entered into a joint venture with Malaysian Resources Corp Bhd two months ago to develop 64 acres of commercial land in the former Rubber Research Institute land.
Known as R3-2, this will be the first parcel to be allocated to bumiputra developers, according to Kwasa Land Sdn Bhd managing director Mohd Lotfy Mohd Noh (pic).
Up to 35% of the proposed Kwasa Damansara township will be slated for bumiputra developers. Mohd Lotfy said in a statement the move would “further consolidate Kwasa Land’s action to support the bumiputra economic empowerment agenda”.
He said the company was taking this step in the interest of developing bumiputra equity ownership in the corporate sector and asset ownership.
Kwasa Land, a wholly-owned subsidiary of the Employees Provident Fund (EPF), is the master developer and has the mandate to develop the 2,330 acres over a 20-year period which will comprise residential, commercial, recreational and educational facilities. An integrated transportation system links the township via mass rapid transit (MRT) to the rest of Klang Valley.
The company was established in September 2010 to manage the EPF’s multi-billion property development investments in the country.
The deadline for submission of proposals is early December, one of the companies invited to participate in the tender said.
Mohd Lotfy said of the 152 who participated in the Kwasa Land pre-qualification exercise last year, 72 submissions were received by Kwasa Land for the bumiputra category.
The top 23 in this category are Ahmad Zaki Sdn Bhd, Apex Communication Sdn Bhd, Ark Resources Bhd , Dwitasik Sdn Bhd, Faber Union Sdn Bhd, Fairview Development Sdn Bhd, Impiana Land Development Sdn Bhd, ISY Sdn Bhd, Johawaki Development Sdn Bhd, Lebar Daun Development Sdn Bhd, Getrahome Sdn Bhd, Prima Nova Sdn Bhd and Purplestar Land (M) Sdn Bhd.
The others include Kinta Berkat Sdn Bhd, Selia Selenggara Sdn Bhd, Sensatimur Sdn Bhd, Seri Meraga Properties Sdn Bhd, Sharikat Permodalan Kebangsaan Bhd, Swasta Setia Holdings Sdn Bhd, Triplc Bhd , Tujuan Gemilang Sdn Bhd, UDA Holdings Bhd and Zikay Group Sdn Bhd.
The residential parcel – or R3-2 – is located in the northern part of the township next to an MRT station, which underscores its prime valuation as it will be accessible via a proposed network of roads in the development.
No details as to the type of residentials to be built were available but it is likely that they will be high-rise residential development in order to leverage on the MRT connection.
Separately, Kwasa Land has already submitted the master layout plan for the proposed Kwasa Damansara township to the local state authorities, a source said.
Now that the Selangor Mentri Besar issue has been resolved, there is a likelihood that it would be approved by this year, the source said.
The land comprises two portions separated by a highway. One portion is under the jurisdiction of Petaling Jaya City Council while the northern portion is under Shah Alam City Council.
It was previously reported that the township would generate RM50bil in gross development value over the next 20 years and will have the advantage of having two MRT stations.