Kwasa Land awards Project R2-1 to Naza TTDI

PETALING JAYA: Kwasa Land Sdn Bhd, the master developer for the 2,330-acre iconic Kwasa Damansara township has awarded Project R2-1, a proposed residential development of a site measuring 12.7 acres, to Naza TTDI Sdn Bhd.

The award letter dated Aug 24, 2015 stipulated conditions for the parties to finalise and to sign the Development Rights Agreement within 60 days.
In a statement, Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh said: "The evaluation adjudicated by an independent evaluation panel has opined that the bid offered a good Net Present Value (NPV) return to Kwasa Land at approximately RM88 million, or equivalent to RM160 psf.
"The bid by Naza TTDI delivered on the desired criteria set by Kwasa Land. The independent evaluation panel is confident that the proposed contemporary living concept and the pricing strategy, best meets market expectations."
A thematic park, contemporary designs, private green courtyards and recreational club facilities were key highlights in the residential development proposal from Naza TTDI.
The company's bid proposed a gated and guarded community with residences in clusters of four and each unit enjoys an open corner enabling generous daylight penetration and views, a feature much sought-after by buyers.
Spacious lounges and cosy seating for socialising with facilities for the residences, would dominate the residential development.
The evaluation of bids was conducted by two independent panels in two parts – quantitative and qualitative.
Under the qualitative evaluation, tenderers were required to submit development concept and layout proposals for the R2-1 parcel based on approved density, development phasing, and unique features of the proposal complete with overall planning layout, 3-D massing and landscape plans. Property sales for the whole development should be completed within six years.
Under the quantitative evaluation, tenderers were required to submit the price on a per square foot basis along with their financial feasibility analysis.