Kwasa Land picks winner for Project MX-1

PETALING JAYA — Kwasa Land Sdn Bhd, the master developer for the 2,330-acre iconic Kwasa Damansara Township, today announced that Malaysian Resources Corporation Berhad (MRCB) had won the bid for the coveted inaugural development of ‘Project MX-1’, a 64-acre parcel of mixed development with an estimated gross development value of over RM 7 billion.

In a statement issued today, Kwasa Land managing director Mohd Lotfy Mohd Noh said, “We have made an offer to MRCB which is conditional upon them signing the definitive agreement within 30 days from the date of our offer letter.”

The evaluation exercise was carried out by an Independent Advisory Panel (IAP) led by Raine & Horne International Zaki + Partners Sdn Bhd and supported by AJM Planning Urban Design Group (APUDG), Perunding Hashim and Neh Sdn Bhd, ARH Jurukur Bahan Sdn Bhd and a few other leading consultants. The criteria for the evaluation was based on financial, technical and commercial considerations.

“On the whole, this has been a comprehensive bid on an open competitive basis. We would like to thank all the tenderers for their enthusiasm and commitment in their submissions. We truly appreciate the effort and the resources that they have put in,” said Mohd Lotfy.

Project MX-1 is a parcel of mix developments under the provisional Master Layout Plan that has been earmarked to be the main town centre of the proposed Kwasa Damansara Township. It benefits from a well-connected network of four expressways, two MRT stations and close proximity to SkyPark air terminal. The MX-1 development is envisaged to spur the catalytic growth for this entire township.

Moving forward, Kwasa Land is also 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 quarters of 2014 respectively.

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