KUALA LUMPUR, April 10 — The Employees Provident Fund (EPF), through wholly-owned subsidiary, Kwasa Land Sdn Bhd, has awarded a project to develop high-end residential properties in Kwasa Damansara, Selangor, with a gross development value of RM295 million to TSR Capital Bhd.
Kwasa Land, the master developer of Kwasa Damansara, said its wholly-owned subsidiary, Kwasa Development (3) Sdn Bhd, had inked an agreement with TSR Development Sdn Bhd, which is 100 per cent owned by TSR Capital, to build the units on 2.64 hectares (ha) known as Plot R3-3.
The project, expected to be completed in 2024, would comprise 260 units of high-end residential properties, the company said in a statement.
Kwasa Land said under the agreement, TSR Capital would pay Kwasa Land RM58.94 million for the development rights and revenue sharing.
Kwasa Damansara, sited on a former Rubber Research Institute of Malaysia land in Sungai Buloh, is a sustainable 943.7-ha development that is being planned as a fully-integrated township with green, connected, inclusive and sustainability as its main attraction.
“Plot R3-3 has a green connectivity to one of the largest parks of about 17 ha in Kwasa Damansara encompassing a 5.5-ha lake. This park is located north-west of the future town centre where two Mass Rail Transit stations are within a two-kilometre radius,” Kwasa Land said. — Bernama