Industry Property development | Headquarters Sungai Buloh, Malaysia | |
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Type Private limited company Founded 2010; 7 years ago (2010) Key people Samsudin Osman (Chairman)
Mohamad Lofty Mohamad Noh (Managing Director) Parent Employees Provident Fund | ||
5 residence kwasa damansara
Kwasa Damansara a future township located on the area of a former rubber estate in the Malaysian state of Selangor that is in the process of being developed. The development is expected to take place over 20 years from 2015 and is part of the Greater Kuala Lumpur Strategic Development Project under the 10th Malaysia Plan announced in 2010.
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The project is located on the 2330-acre (939-hectare) site formerly occupied by Rubber Research Institute Malaysia (RRIM) in Sungai Buloh. In 2010, prime minister Najib Razak announced that the land was being earmarked for development. In 2012, the Employees Provident Fund (EPF) subsidiary Kwasa Land Sdn Bhd purchased the land for RM2.8 billion and was tasked as the master developer for the proposed township.
The township is expected to include residential, commercial, educational and recreational development. It is surrounded by other suburban towns and townships of the Klang Valley, including Kota Damansara, Ara Damansara, Subang, the Sultan Abdul Aziz Shah Airport, and Shah Alam. The Klang Valley Mass Rapid Transit (MRT) will also be connected to the township. An estimated 150,000 people will reside in the township.
The total land stretches across two cities; the northern portion is located within the city boundaries of Shah Alam while the southern portion is in Petaling Jaya.
Kwasa Land
Kwasa Land Sdn Bhd is the master developer of the Kwasa Damansara township. It was formed in 2010 to execute the EPF's mandate to develop the rubber estate formerly owned by the Malaysian Rubber Board and used for research by Rubber Research Institute Malaysia (RRIM). In September 2011, it appointed Mohamad Lofty Mohamad Noh – head of property investment at EPF – as managing director.
Developments
As the master developer of the township, Kwasa Land has contracted out developments of individual parcels under the master plan to other developers. As of May 2015, five projects have been announced: the town centre Project MX-1, and residential Projects R2-1, R3-2, R3-3 and R3-4.
The town centre, code-named MX-1, with a size of 64 acres and gross development value (GDV) of RM8 billion, will be jointly developed by Kwasa Land and MRCB. This part will include three shopping centres, a hotel, residential areas and an MRT station.
Project R3-2, with a size of 8.79 acres and GDV of RM400 million, was awarded to Impiana Land & Development Sdn Bhd.
Project R2-1, a 12.7-acre parcel connected to three expressways and Subang Skypark, was awarded to Naza TTDI Sdn Bhd. Naza TTDI's bid included a gated and guarded community with a 1.8-acre central park. Green areas will cover 55 percent of the total built area.
Bidding for the remaining projects was ongoing as of May 2015.