Kwasa Land seeks potential partners for iconic township

Kwasa Land Sdn Bhd is calling for another round of pre-qualification of potential development partners for its 2,330-acre iconic township development Kwasa Damansara.

Kwasa Land, which is a unit of the Employees Provident Fund (EPF), said on Monday it was seeking three categories of developers to join Kwasa Land develop the township over the next 15 years to 20 years. It is expected to generate a gross development value (GDV) of RM50bil.

It said the second invitation for pre-qualification was opened to tier one, two and three companies.

Tier 1 is for large scale companies with shareholders’ fund or paid up capital of RM1bil and above; Tier 2 is for companies with shareholders’ fund or paid-up of RM200mil and above while Tier 3 is for Bumiputera companies with shareholders’ fund or paid-up of RM1mil and above.

“To ensure strength and merit in the respective categories, applicants should demonstrate average pre tax profits for three consecutive years of above RM100mil for Tier 1, RM50mil for Tier 2 and RM5mil for Tier 3.

“Applicants should also have generated from at least two development projects, gross development value (GDV) of RM1bil for Tier 1, RM250mil for Tier 2 and RM50mil for Tier 3,” it said.

Kwasa Land said the call comes after the first initial round held in September 2012.

To recap, Kwasa Damasara, located in the vicinity of Kota Damansara and Petaling Jaya, is a mix of residential, commercial, recreational, institutional and educational developments which when ready, will serve a target population catchment of 150,000.

Following the inaugural pre qualification, Kwasa Land has thus far called for four requests for proposals from the pre qualified.

The requests were for the main town centre development MX-1, the first residential development R2-1, the first Bumiputera development R3-2 and recently, residential developments R3-3 and R3-4 also for the Bumiputera category. - By The Star