Five Tier 2 developers make bid for Kwasa Land’s next residential development R2-1

PETALING JAYA — At the close of the R2-1 RFP tender last week, five pre qualified Tier 2 developers made a bid for Kwasa Land’s next residential development in Kwasa Damansara.

The RFP called for a partner for a proposed residential development of a land area measuring 12.7 acres identified as Project R2-1 based on the approved ‘Kebenaran Merancang’.

Among the developers whose bids were received included Johor Land Berhad, MKH Berhad, Naza TTDI Sdn Bhd, Paramount Corporation Berhad, and TH Properties Sdn Bhd.

Kwasa Land Sdn Bhd, the wholly owned subsidiary of the Employees Provident Fund (EPF) is the master developer of the 2,330-acre iconic township development of Kwasa Damansara.

The township development is opened to three categories of developers for participation in various partnerships with Kwasa Land. The three tiers are:

Tier 1 – large scale companies with shareholders or paid up capital of RM1 billion and above
Tier 2 – companies with shareholders’ funds or paid up capital of RM300 million and above
Tier 3 – Bumiputera companies with shareholders’ funds or paid up capital of RM1million and above.

The location of R2-1 has an extremely strategic advantage of it being adjacent by a mere 0.2 km to Project MX-1 (the town centre) in which two MRT stations are located.

R2-1 also fronts a 34-acre thematic town park that would see minimum disturbance to the environment as much of the green would be preserved.  The topography includes as much of the land profile and existing rubber trees as well as other existing vegetation to retain the natural beauty of the area preserved in harmony with the well-integrated landscape design.

The town park would also be complemented with three playing fields, an open lawn, a waterfront plaza, a board walk in tandem with a handsome promenade, an outdoor gym and a jogging bike trail.

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.

According to Kwasa Land, all tenders will be evaluated on the qualitative and quantitative criteria spelt out in the RFP by an independent team of evaluators comprising of marketing consultants, architects and other professionals.

Under the qualitative evaluation, tenderers are 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. The whole development within the R2-1 land must be fully completed within six years.

Under the quantitative evaluation, tenderers are required to submit the tender price on a per square foot basis along with their financial feasibility analysis.

To date, Kwasa Land has called for three RFPs, namely, the main town centre development MX-1, the first Bumiputera development R3-2 and now R2-1 opened to Tier 2 Developers. Moving forward, Kwasa Land Sdn Bhd will soon call for two more RFPs for residential developments.

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