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Kwasa Land invites partners to develop Damansara township

September 5, 2012

KUALA LUMPUR: Kwasa Land Sdn Bhd is inviting partners to participate in the proposed Kwasa Damansara township project of 943 hectares of prime land in the Klang Valley.

Kwasa Land, a unit of the Employees Provident Fund (EPF), as master developer will conduct a pre-qualification exercise to obtain the right developers to undertake its massive parcels of mixed development projects.

“Developers who are keen to participate in our project will undergo a short listing process that has established specific measures, both quantitative and qualitative, to enable us to first assess the capabilities of these companies,” managing director Mohd Lotfy Mohd Noh said.

In a statement today, Kwasa Land said developers are invited to visit its website at www.kwasaland.com.my to download the pre-qualification exercise form.

The closing date for all submissions is 12 noon on Sept 26.

The company will assess the developer’s paid-up share capital or shareholder’s fund, pre-tax profit for the last three consecutive years, gross development value and net gearing ratio.

Recognition awards earned for projects accomplished will also be taken into account, the company said.

It said the pre-qualification exercise is classified into three categories – Tier 1 or large-scale companies with a paid-up share capital or shareholders’ fund of at least RM1 billion; Tier 2 or medium-scale companies with a paid-up capital or shareholders’ fund of at least RM300 million; and Tier 3 comprising Bumiputera developers with a paid-up capital or shareholders’ fund of RM1
million and above.

In addition to their Tier 3 participation, Bumiputera developers may also participate in either Tier 1 or Tier 2 categories subject to their qualification.

Mohd Lotfy said Kwasa Land aims to extend the widest opportunities to the best and capable property developers in the industry.

“In pre-qualifying the developers, we can be assured of a high level of success, quality and innovation for the development,” he said.

He said the integrated development will comply with all the requisites of a master layout plan that is to be approved by the Selangor state planning authorities.

“The development will be divided into parcels and developed in phases according to Kwasa Land’s master timeline,” Mohd Lotfy said.

Located in the vicinity of Kota Damansara and Petaling Jaya, the project is a mix of residential, commercial, recreational, institutional and educational facilities that will serve a target population catchment of 150,000.

The designated township will be connected with two MRT stations that will make public transport a breeze for those seeking accessibility and connectivity, the company said in the statement.

Of the total land area of 1,277 hectares, 943ha is acquired by Kwasa Land.

Separately, the government has acquired 117.4ha for the MRT while the Rubber Research Institute has retained 216.5ha.

The proposed Kwasa Damansara township development will also capitalise on the eco needs of a modern township, including extensive parks, green lungs amidst the residential and commercial areas, and other environmental and sustainable use of technologies in the building of infrastructure.

A key feature is a green park that is 7.5km long and 71.5ha in size.

- Bernama


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