Kwasa Land awards Impiana Land & Development first bumiputra project R3-2
PETALING JAYA: Kwasa Land Sdn Bhd, has awarded Project R3-2, an 8.79-acre residential development within Kwasa Damansara, to Impiana Land & Development Sdn Bhd.
In a statement yesterday, Kwasa Land said the award letter, dated Jan 29, stipulated conditions for the parties to finalise and sign the development rights agreement within 30 days.
Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh said the bids received had conformed to the facets for R3-2 and were keenly competitive.
"However, the adjudication panel comprising independent consultants and Kwasa Land, came out impressed with a clear-cut winner that offered the best design concept and return-on-investment.
"The layout was well thought and efficiently planned with an impressive architectural perspective."
"The commercial independent evaluation panel had opined that the company offered a good net present value (NPV) return to Kwasa Land at RM65 million or equivalent to RM170 per sq ft," he added.
The adjudication by two independent evaluation panels held over a period of seven days was divided into two parts.
For the qualitative evaluation, tenderers had to submit development concept and layout proposals for the R3-2 project based on approved density, development phasing, and unique features of the proposal complete with overall planning layout, 3D massing and landscape plans.
Bidders had to forward a development design with a special character and theme that would promote a sense of pride, place and belonging in a sustainable contemporary setting.
Tenderers had to submit the tender price on a per square foot basis along with their financial feasibility analysis for the quantitative evaluation.
Eight pre qualified Bumiputera developers had participated in the bid. However, one was disqualified for not being statutory compliant.
Kwasa Land, a unit of The Employees Provident Fund (EPF), is the master developer for the 2,330-acre iconic Kwasa Damansara township.
The development is expected to draw immense interest among those in search of a home in the last prime acreage in the Klang Valley, it said.
R3-2 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.