Highlight MRCB, SP Setia, UEM, YTL, Guocoland, Putrajaya bid for Kwasa project with GDV RM4-6 billion

by **Cals** Mon 02 Jun 2014, 23:59

Highlight MRCB, SP Setia, UEM, YTL, Guocoland, Putrajaya bid for Kwasa project with GDV RM4-6 billion

Business & Markets 2014

Written by Surin Murugiah of theedgemalaysia.com

Monday, 02 June 2014 12:20

KUALA LUMPUR (June 2): Six firms, namely Guocoland Malaysia Bhd, Malaysian Resources Corporation Bhd, Putrajaya Holdings Sdn Bhd, S P Setia Bhd, UEM Sunrise Bhd and YTL Corporation Bhd have submitted bids for the development of Kwasa Land Sdn Bhd’s ‘Project MX-1’ which has an estimated gross development value (GDV) of between RM4 and RM6 billion.

Project MX-1 is within Kwasa Land’s Kwasa Damansara township, which has an estimated GDV of RM50 billion.

Kwasa Land is a wholly owned unit of the Employees Provident Fund, and the master developer for a township development sited on 2,330 acres of prime land in the Klang Valley.

Project MX-1 is a parcel of mix developments under the provisional Master Layout Plan, that has been earmarked to be the town centre of the proposed Kwasa Damansara township.

“It represents the very foundation for the economic pillars of the overall township development. It benefits from a well-connected network of four expressways, two MRT stations and an adjacent Skypark air terminal,” said Kwasa Land in a statement.

Kwasa Land said that under the qualitative evaluation, tenderers were required to submit development concept and layout proposals for the MX-1 parcel based on approved plot ratio, development phasing, and unique features of the proposal complete with overall planning layout, 3-D massing and landscape plans.

It said property sales for the whole development within the MX-1 land area should be fully completed within 12 years.

It added that 20 prospective companies prequalified under Tier 1 developers and had been invited by Kwasa Land to pitch for Project MX-1 in March this year.

“Moving forward, Kwasa Land is scheduled to invite Tier 3 Bumiputera developers for the inaugural Bumiputera development and Tier 2 developers for a residential development by the third and fourth quarter respectively,” it said.