Kwasa Land supports government call for the Bumiputera agenda

SHG_5452xed_smallPETALING JAYA — Kwasa Land Sdn Bhd today answered the clarion call to support the Bumiputera Economic Empowerment Agenda when it announced the successful bidders for two plots of land in Sungai Buloh to Pink Corner Sdn Bhd and TRC Land Sdn Bhd.

The call specifically addresses the Bumiputera Economic Empowerment Council’s desire of “enhancing Bumiputera equity ownership in the corporate sector as well as asset ownership,” said a statement from Kwasa Land.

The tenders were opened to Bumiputera entities to be part of the exciting prospects that would evolve from the future Kwasa Damansara township which Kwasa Land is tasked as Master Developer.

The plots would gain from the socio-economic benefits that include an MRT, commercial, retail and residential developments including affordable homes that make the vicinity a thriving hub of activity.

Pink Corner Sdn Bhd was the highest bidder for 4.28 acres at Lot 73535 of Mukim Sungai Buloh, District of Petaling, State of Selangor for the sum of RM13,069,219 or RM70 psf.

TRC Land Sdn Bhd was the highest bidder for 1.717 acres at Lot 73971 of Mukim Sungai Buloh, District of Petaling, State of Selangor for the sum of RM 6,133,409 or RM82 psf.

The land parcels were tendered on an “as is, where is” basis based on agriculture titles. It is a mere stone’s throw away to the main township development separated by Jalan Lapangan Terbang Subang.

Both land parcels were sold above the reserved price by 13 per cent and 11 per cent respectively.

A total of nine bidders had participated in the bids for the land that were advertised for sale to Bumiputeras only in August 2013. The real estate presents an excellent opportunity for the parties to expand their land bank or to seek lands for future development adjacent to an iconic township to be developed by Kwasa Land.

Kwasa Land has been identified by the Government as one of the key players to support the call for Bumiputera participation. The master developer has committed to support this call by targeting 35 per cent of land sales to Bumiputera companies.

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