Kwasa Land Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund, announced this week that the R3-2 Project in Kwasa Damansara has been awarded to Impiana Land & Development Sdn Bhd.
Project R3-2, an 8.79-acre mix residential development in the 2,330-acre Kwasa Damansara, is expected to draw immense interest among those in search of a home in the last prime acreage in the Klang Valley.
In a statement, Kwasa Land managing director Dato’ Mohd Lotfy Mohd Noh said the bids which were received by the company conformed to the facets for R3-2 and were keenly competitive.
“However, the adjudication panel comprising independent consultants and Kwasa Land, came out impressed with a clear-cut winner that offered the best design concept and return-on-investment,” he said.
R3-2 benefits from a well-connected network of three current expressways and a new proposed DASH expressway, two MRT stations and an adjacent Subang SkyPark air terminal.
Lotfy said the layout of the project was well thought and efficiently planned with an impressive architectural perspective.
“The commercial independent evaluation panel had opined that the company offered a good Net Present Value (NPV) return to Kwasa Land at RM65 million or equivalent to RM170psf,” he said.
The adjudication by two independent evaluation panels held over a period of seven days was divided into two parts.
Under the qualitative evaluation, tenderers were required to submit development concept and layout proposals for the R3-2 parcel based on approved density, development phasing, and unique features of the proposal complete with overall planning layout, 3-D massing and landscape plans. Property sales for the whole development within the R3-2 land area should be fully completed within a maximum period of six years.
Bidders were required to forward a development design with a special character and theme that would promote a sense of pride, place and belonging in a sustainable contemporary setting.
Under the quantitative evaluation, tenderers were required to submit the tender price on a per square foot basis along with their financial feasibility analysis.
Eight pre-qualified Bumiputera developers had participated in the bid. However, one was disqualified for not being statutory compliant, the statement said.