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Thursday, September 6, 2012

Developers can now submit entries for Kwasa Damansara project

PETALING JAYA: Developers can now submit entries for a pre-qualification process to be in the running for Kwasa Land Sdn Bhd's proposed Kwasa Damansara development which sits on 2,330 acres of land in Sg Buloh.

As the master developer, Employees Provident Fund's wholly-owned subsidiary Kwasa Land will conduct a pre-qualification exercise to get participants with required track record and expertise to undertake parcels of mixed development projects.

In a statement, Kwasa Land managing director Mohd Lotfy Mohd Noh 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.”

Participants will be assessed based on their paid-up share capital or shareholder's fund, pre-tax profit for the last three consecutive years, gross development value, net gearing ratio and recognition.

The exercise is classified into three categories namely: Tier 1 with a paid up share capital or shareholders' fund of at least RM1bil; Tier 2 with a paid up capital or shareholders' fund of at least RM300mil; and Tier 3 comprising bumiputera developers with a paid-up capital or shareholders fund of RM1mil and above. Bumiputera developers may also participate in either Tier 1 or Tier 2 categories subject to their qualification.

The township will serve a target population of 150,000 when ready.

Prior to the opening, Dijaya Corp Bhd has expressed interest in this project. According to a report, developers that match Kwasa Land's criteria include Malaysian Resources Corp Bhd, IJM Corp Bhd, Sime Darby Bhd and SP Setia Bhd.

Companies which are interested can visit the Kwasa Land corporate website at to download the form for the pre-qualification exercise. The closing date for all submissions is noon, Sept 26, 2012.

By The Star

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