By Sharen Kaur
PETALING JAYA: Johor Land Bhd, MKH Bhd, Naza TTDI Sdn Bhd, Paramount Corp Bhd and TH Properties Sdn Bhd will fight it out to secure the next project at Kwasa Damansara in Selangor.
They are the five pre-qualified tier 2 developers that have bid for the residential development in the RM50 billion township.
Tier 2 developers are companies with shareholders' funds or paid-up capital of RM300 million and above.
Kwasa Land Sdn Bhd had called for a request for proposal (RFP) for a partner for the proposed 5.08ha residential development, called project R2-1, based on the approved planning.
People with knowledge on the matter said project R2-1 was expected to generate a gross development value (GDV) of about RM900 million.
Upon completion, Kwasa Land was expected to reap an income of about RM100 million, the sources told Business Times.
While the five bidders have paramount exposure in developing a diverse range of properties, they have to compete based on the qualitative and quantitative criteria spelt out in the RFP.
Under the qualitative evaluation, tenderers are required to submit development concept and layout proposals for the R2-1 parcel based on approved density, development phasing, and unique features of the proposal, complete with overall planning layout, 3D massing and landscape plans.
For the quantitative evaluation, tenderers are required to submit the tender price on a per square foot basis along with their financial feasibility analysis.
In a statement yesterday, Kwasa Land said all tenders would be evaluated by an independent team comprising marketing consultants, architects and other professionals.
Kwasa Land, a wholly-owned unit of the Employees Provident Fund and master developer of the 932ha Kwasa Damansara township, said the R2-1 project must be fully completed within six years.
It said R2-1 was next to project MX-1 (the town centre), in which there would be two mass rapid transit stations. R2-1 will also front a 13.6ha thematic town park.
Besides tier 2 developers, the township development is open to tier 1 builders with shareholders' funds or paid-up capital of RM1 billion and above, and tier 3 Bumiputera firms with shareholders' funds or paid-up capital of RM1 million and above.
Malaysian Resources Corp Bhd will develop the town centre, which will have a GDV of more than RM8 billion. Impiana Land and Development Sdn Bhd will undertake the first Bumiputera development known as project R3-2 on 3.5ha with GDV of RM400 million.
Kwasa Land said it would soon call for two more RFPs for residential developments.
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