Kwasa Land announces two more development projects

PETALING JAYA: Master developer Kwasa Land Sdn Bhd yesterday announced another two residential projects, R3-3 and R3-4, for selected prequalified bumiputra developers.
In a statement yesterday, it said the request for proposal (RFP) is a single exercise based on the parameters of the approved 'Kebenaran Merancang' by the Selangor state authorities for the iconic township.
The two residential plots measure 6.52 acres and 3.91 acres respectively, making it a cumulative 10.43 acres.
Overall, Kwasa Damansara is a 2,330-acre development tucked in the last prime stretch of the Klang Valley.
The proposed reserved price for the R3-3 land is RM125 psf based on leasehold title while the proposed reserve price for R3-4 is at RM135 psf based on freehold title.
The invitations to pre-qualified bumiputra developers have been issued and submission for the RFP tender documents will close by July 10.
Kwasa Land Sdn Bhd, the wholly-owned subsidiary of the Employees Provident Fund (EPF), has been commissioned as master developer for the 2,330-acre iconic township development of Kwasa Damansara.
In the last 14 months, the township development has been opened to three categories of developers for participation in various partnerships with Kwasa Land.
The three tiers include Tier 1 for large scale companies with shareholders or paid up capital of RM1 billion and above, Tier 2 for companies with shareholders' funds or paid up capital of RM300 million and above, and lastly Tier 3 for bumiputra companies with shareholders' funds or paid up capital of RM1 million and above.
To date, Kwasa Land has called for four 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, the first bumiputra development R3-2 and now residential developments R3-3 and R3-4 also for the bumiputra category.
Kwasa Land is in the midst of calling the next pre-qualification of development partners for the Kwasa Damansara township as the last exercise was done three years ago.
Prospective investors will find the Kwasa Damansara development gaining from socio-economic benefits that include commercial, retail and other residential developments that make the location a thriving hub of activity.
The township enjoys the benefit of two MRT stations, a well-connected network of four expressways, and close proximity to the SkyPark air terminal.