Highlight Open tender next month for Phase One of Sungai Buloh development, with RM50b GDV

by **Cals** Wed 15 Jan 2014, 23:12

Highlight Open tender next month for Phase One of Sungai Buloh development, with RM50b GDV

Business & Markets 2014

Written by Jeffrey Tan of theedgemalaysia.com

Wednesday, 15 January 2014 15:18

KUALA LUMPUR (Jan 15): The Employees Provident Fund (EPF) will call for tenders next month for phase one of its Sungai Buloh development, projected to generate RM50 billion in gross development value (GDV) over 20 years.

The entire project covers a land area of 932 ha (or 2,330 acres) in Sungai Buloh.

EPF, which is undertaking the project via wholly-owned unit Kwasa Land Sdn Bhd, said the master plan for the proposed township of Kwasa Damansara has been presented to the Selangor state government for their evaluation and approval.

In a statement, Mohd Lotfy Mohd Noh, managing director of Kwasa Land Sdn Bhd, said as master developer, Kwasa Land will initiate development through experienced partners and collaborators to deliver the township.

“We intend to work with the best and most experienced developers who are required to comply with our urban design guidelines as well as our high standards for creativity and promoting a safe city concept,” said Mohd Lotfy.

Lotfy said the township is positioned as a transport-oriented development with three tiers of developers set up to exercise the widest range of development opportunities.

"Based on this structural division of land, Kwasa Land is projecting land sales revenue of approximately RM11 billion for 1,350 acres to public limited companies, government-linked companies, private developers as well as Bumiputera developers.

"In addition, Kwasa Land is likely to invest in equity participation in most of the precinct areas to generate greater returns and to ensure conformance to the urban design guidelines," he said.

Mohd Lotfy said the entire township project will be developed in eight precints, each to have its own urban design guidelines.

Lotfy said the township will have multiple MRT stations, access to four highways and the KTM Komuter service. The Subang SkyPark air terminal is also located nearby the township.