KUALA LUMPUR (Dec 21): TSR Capital Bhd is partnering Kwasa Land Sdn Bhd to develop a proposed residential development, which carries an estimated gross development value (GDV) of RM295 million, on 6.52 acres of land in the Kwasa Damansara township.
In a filing to Bursa Malaysia today, TSR said it has accepted the letter of award (LoA) from Kwasa Land as its development partner.
The proposed development will consist of 260 residential units with five development components, namely Link Villas, Cluster Villas, Exclusive Villas, Town Villas and Condominium. The LoA shall be subject to the execution of a development rights agreement with Kwasa Land.
Kwasa Land — a wholly-owned subsidiary of the Employees Provident Fund — is the master developer for the Kwasa Damansara township, which will span across 2,330 acres of prime land located in the Klang Valley.
TSR's flagship development project for its property division is PD Waterfront, a 100-acre beachfront development in Port Dickson, Negeri Sembilan.
TSR shares were up 1.5 sen or 3.1% to close at 50 sen today, and for a market capitalisation of RM87.2 million.