• Previous

    Russian rouble falls by more than 1pc, extends earlier losses

  • Next

    Markets rise as Xi calms trade war fears

EPF gives development project with RM295m GDV to TSR Capital

The Employees Provident Fund (EPF) building in Kuala Lumpur is pictured on August 3, 2017. — Picture by Miera Zulyana Abdul Rahman
The Employees Provident Fund (EPF) building in Kuala Lumpur is pictured on August 3, 2017. — Picture by Miera Zulyana Abdul Rahman

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

Related Articles

Up Next

Loading...