Map of Kwasa Damansara.
KUALA LUMPUR: The Employees Provident Fund (EPF) unit Kwasa Land Sdn Bhd’s project in Sungai Buloh is expected to generate RM50bil in gross development value (GDV) over the next 20 years.
On Wednesday, the group said its master plan for the proposed township of Kwasa Damansara has been presented to the state government for their evaluation and approval.
Upon obtaining the necessary approvals from the state authorities, the first parcel of 64 acres will be developed into a modern state-of-the-art town centre and transport hub in a partnership with Tier 1 developers.
“The town centre shall comprise 70% commercial and 30% residential components, with the added advantage of having two MRT stations built within its confines for the benefit of residents and commuters within Klang Valley.
“With this massive projected GDV, the state of Selangor is expected to prosper as more than 150,000 people move in to live, earn and thrive in this new iconic township,” it said in a statement.
As a master developer, the group has named 60 developers in its pre-qualification exercise, where tenders for the development of Phase 1 will be called in Feb 2014.
“The successful partner in developing this town centre will be based on the merits of their design proposal and financial consideration,” it said.
The group said the entire township project would be developed into eight precincts.
“Based on this structural division of land, Kwasa Land is projecting land sales revenue of approximately RM11 billion for 1,350 acres to public limited companies, government-linked companies, private developers as well as Bumiputera developers.
“In addition, Kwasa Land is likely to invest in equity participation in most of the precinct areas to generate greater returns and to ensure conformance of the urban design guidelines,” it said.