KUALA LUMPUR, Oct 28 — Malaysian Resources Corporation Bhd (MRCB) announced it has signed a management contract with Kwasa Utama Sdn Bhd (KUSB) for the development of Kwasa Utama for a provisional total contract sum of RM3.1 billion.
In a filing to Bursa Malaysia, MRCB said the contract referred to a development and construction of a commercial development on a 12.07-hectare land owned by KUSB known as Plot C8 located in the new Kwasa Damansara township in Sungai Buloh, Selangor.
“The development will span over 12 years from 2016 to 2027, and is expected to comprise seven separate development plots consisting of eight office towers, a block of hotel, auditorium and a facility block,” it said.
In a separate statement, MRCB said signing on its behalf was Group Managing Director Tan Sri Mohamad Salim Fateh Din, while KUSB was represented by its Executive Director, Datuk Mohd Lotfy Mohd Noh.
Kwasa Utama development is located adjacent to Kwasa Sentral and will make for an integrated town centre within the overall Kwasa Damansara township, with direct connections to the Mass Rapid Transit Line 1 (Sungai Buloh–Kajang Line) and future Line 2 (Sungai Buloh–Serdang–Putrajaya Line).
With the signing of the agreement, MRCB will be delivering various project milestones via the overall project management, engineering, procurement, construction and commissioning of works.
Mohamad Salim was quoted as saying: “As the management contractor, MRCB will use its expertise and experience working with appointed professionals in creating a new growth centre for corporate entities and businesses in Kwasa Utama, a business-driven development that will cater to the needs of corporate and commercial purchasers.
“We are indeed grateful and appreciative that KUSB has awarded the management contract work to MRCB,” he said.— Bernama
