EPF’s Kwasa Land completes purchase of 2,330 acres from government for RM2.28 billion

PETALING JAYA — Kwasa Land Sdn Bhd, a wholly owned subsidiary of the Employees Provident Fund (EPF) tasked as master developer for an iconic township development, today announced that it had finalised the purchase price of RM2.28 billion for 2,330 acres of prime Rubber Research Institute land in the heart of the Klang Valley.

“This new Kwasa Damansara township development will incorporate plans that are befitting of a city replete with infrastructure and modern facilities, both residential and commercial that aim to serve the entire Damansara region, if not the Klang Valley,” said Kwasa Land’s Chairman Tan Sri Samsudin Osman.

The proposed township development is expected to create abundant opportunities for developers and contractors to participate in developing residential and commercial properties, main infrastructures and public amenities for an expected population of 150,000.

The development planning is now in an advanced stage with the iconic township development expected to commence in 2013. Among the key features in the design and layout plan is a development hub comprising modern residential, commercial, recreational and educational facilities.

It will also incorporate an integrated transportation system that links the township via MRT to the rest of Klang Valley. A 7.5 km green park of 160 acres will also be among the highlights of this new development.

The master plan is being finalised for submission to the Selangor State Planning Committee for approval.

Kwasa Land has been established as a master developer and as an investment holding company for the entire development of the township that has been given a construction lifespan of 15 years.

“As master developer, Kwasa Land is responsible for obtaining all the necessary approvals for the master layout plan and for the construction of the main infrastructure on the land. The land will be divided into parcels, developed in phases, and sold to developers according to plot ratios, development components and in conformance with the urban design guidelines by Kwasa Land.

“We will soon be calling for the pre qualification of developers to participate in the creation and building of an iconic township that will be the toast of the town in the coming years,” said Tan Sri Samsudin.

“We are looking for experienced property developers with strong track record and who have successfully completed developments with a high Gross Development Value (GDV) for the past 2 to 3 years.”

He added that in ensuring the best for those intending to reside and work in this new iconic township, the proposed development components must be aligned to the urban design guidelines determined by Kwasa Land in which harmony is an important pre requisite to the entire development. A key aspect in the evaluation is that the design concept plan is to be evaluated first prior to the tender price.

More information about the pre qualification application process will soon be available on Kwasa Land’s corporate website – www.kwasaland.com.my.

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