PETALING JAYA — Master developer Kwasa Land Sdn Bhd today announced another round of pre-qualification of potential development partners for its 2,330-acre iconic township development Kwasa Damansara.
The call seeks to pre qualify three categories of developers to join Kwasa Land in developing the township over the next 15-20 years which is expected to generate a Gross Development Value (GDV) of RM50 billion.
Today’s second invitation for pre-qualification is opened to -
- Tier 1 – large scale companies with shareholders’ fund or paid up capital of RM1 billion and above
- Tier 2 – companies with shareholders’ fund or paid up capital of RM200 million and above
- Tier 3 – Bumiputera companies with shareholders’ fund or paid up capital of RM1million and above.
To ensure strength and merit in the respective categories, applicants should demonstrate average pre tax profits for three consecutive years of above RM100 million for Tier 1, RM50 million for Tier 2 and RM5 million for Tier 3.
Applicants should also have generated from at least two development projects, Gross Development Value (GDV) of RM1 billion for Tier 1, RM250 million for Tier 2 and RM50 million for Tier 3.
Today’s call comes after the first initial round held in September 2012.
The prequalification forms can be downloaded via Kwasa Land’s website www.kwasaland.com.my. Closing date for all submissions is 23 June 2015.
Kwasa Damasara, located in the vicinity of Kota Damansara and Petaling Jaya, is a mix of residential, commercial, recreational, institutional and educational developments which when ready, will serve a target population catchment of 150,000.
The designated township is surrounded by a huge and matured Damansara suburb; served by no less than four traversing highways, and the setting up of two MRT stations that will make public transportation a breeze for those seeking accessibility and connectivity.
Following the inaugural pre qualification, Kwasa Land has thus far called for four RFPs from the pre qualified. The Request for Proposals were for the main town centre development MX-1, the first residential development R2-1, the first Bumiputera development R3-2 and recently, residential developments R3-3 and R3-4 also for the Bumiputera category.
Prospective investors would find the Kwasa Damansara development gaining from the socio-economic benefits that include commercial, retail and other residential developments that make the location a thriving hub of activity.