Kwasa Land announces 21 Tier 2 developers pre qualified for next residential development R2-1

PETALING JAYA — Kwasa Land Sdn Bhd, the wholly owned subsidiary of the Employees Provident Fund (EPF) and master developer of the 2,330-acre iconic township development of Kwasa Damansara, today announced the 21 Tier 2 developers that have successfully prequalified for its next Request for Proposal (RFP) R2-1.

The developers are Amcorp Properties Berhad, Encorp Berhad, Glomac Berhad, Ivory Properties Group Berhad, Johor Land Berhad, KSK Group Berhad, KSL Holdings Bhd, Malton Bhd, MKH Berhad, Nadayu Properties Berhad, Naim Land Sdn Bhd, Naza TTDI Sdn Bhd, OSK Property Holdings Berhad, Paramount Corporation Berhad, Perdana Parkcity Sdn Bhd, Plenitude Berhad, Reliance Pacific Berhad, TH Properties Sdn Bhd, Titijaya Group Sdn Bhd (Tenang Sempurna Sdn Bhd), United Malayan Land Berhad, and Worldwide Holdings Berhad.

In a statement issued today, Kwasa Land managing director Dato’ Mohd Lotfy Mohd Noh said, “The RFP seeks a development 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’.”

According to Dato’ Mohd Lotfy, the location is extremely strategic with the advantage of it being adjacent to Project MX-1 (the town centre in which two MRT stations traverse the area) and fronting a 34-acre green park. Overall, the development would gain from the socio-economic benefits that include commercial, retail and other residential developments that make the location a thriving hub of activity.

“Invitations have been sent out to the 21 developers from the Tier 2 category who had successfully qualified in the pre qualification exercise called earlier. They have met Kwasa Land’s stringent criteria, and have therefore been invited for this RFP exercise.“

The letters of invitation to the 21 prospective tenderers have been delivered while the closing date for all RFP submissions is expected by 31 March 2015.

All tenders will be evaluated on the qualitative and quantitative criteria spelt out in the RFP.

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.

The Kwasa Damansara township development over the next 20 years will see three categories of developers entering into partnerships with Kwasa Land. The three tiers or categories 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.

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 the R2-1.

As for the Bumi development, the tender exercise and evaluation have been completed and we anticipate to announce the selected partner in February 2015.

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