KUALA LUMPUR: Kwasa Land Sdn Bhd, the wholly-owned subsidiary of the Employees Provident Fund (EPF) and master developer of the 2,330-acre (942.91ha) iconic township development of Kwasa Damansara, said 21 Tier 2 developers have successfully pre-qualified for its next Request for Proposal (RFP) R2-1.

The 21 are Amcorp Properties Bhd (fundamental: 2.40; valuation: 2.40), Encorp Bhd (fundamental: 0.9; valuation: 2.40), Glomac Bhd (fundamental: 1.90; valuation: 1.80), Ivory Properties Group Bhd (fundamental: 1.10; valuation: 2.10), Johor Land Bhd, KSK Group Bhd, KSL Holdings Bhd (fundamental: 2.6; valuation: 0.6), Malton Bhd (fundamental: 1.15; valuation: 1.20), MKH Bhd (fundamental: 1.20; valuation: 1.20), Nadayu Properties Bhd, Naim Land Sdn Bhd, Naza TTDI Sdn Bhd, OSK Property Holdings Bhd (fundamental: 1.65; valuation: 1.2), Paramount Corporation Bhd (fundamental: 1.60; valuation: 3.00), Perdana Parkcity Sdn Bhd, Plenitude Bhd (fundamental: 2.7; valuation: 1.8), Reliance Pacific Bhd (fundamental: 0.55; valuation: 1.2), TH Properties Sdn Bhd, Titijaya Group Sdn Bhd (Tenang Sempurna Sdn Bhd), United Malayan Land Bhd and Worldwide Holdings Bhd.

In a statement yesterday, Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh (pic) said the RFP seeks a development partner for a proposed residential development of land measuring 12.7 acres that has been identified as Project R2-1.

“Invitations have been sent out to the 21 developers from the Tier 2 category who had successfully qualified in the pre-qualification exercise called earlier. They have met Kwasa Land’s stringent criteria, and have therefore been invited for this RFP exercise,” said Lotfy.

The letters of invitation to the 21 prospective tenderers have been delivered while the closing date for all RFP submissions is March 31, said Kwasa Land. The whole development within the R2-1 land must be fully completed within six years, it added.

All tenders will be evaluated on the qualitative and quantitative criteria spelt out in the RFP, it said.

Under the qualitative evaluation, Kwasa Land said 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, 3-D massing and landscape plans.

Under the quantitative evaluation, tenderers are required to submit the tender price on a per square foot basis along with their financial feasibility analysis, it added.

Kwasa Land said the Kwasa Damansara township development over the next 20 years will see three categories of developers entering into partnerships with Kwasa Land.

The three tiers or categories are Tier 1 (for large scale companies with shareholders or paid up capital of RM1 billion and above),  Tier 2  (for companies with shareholders’ funds or paid-up capital of RM300 million and above), and Tier 3 (for Bumiputera companies with shareholders funds or paid-up capital of RM 1 million and above), it added.

To date, Kwasa Land has called for three RFPs — the main town centre development (MX-1), the first bumiputera development (R3-2) and the R2-1. As for the bumiputera development, its selected partner is expected to be announced next month. 

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This article first appeared in The Edge Financial Daily, on January 27, 2015.