KUALA LUMPUR : UEM Sunrise Bhd, SP Setia Bhd and YTL Corp Bhd are among six big property players in the running to win Project MX-1, the flagship contract for the RM50 billion township development in Sungai Buloh, Selangor, owned by the Employees Provident Fund (EPF). Mahsing decided to give Project MX-1 a miss due to the high commercial content in the master plan.
The other three to have made submissions for Project MX-1 by its May 27 deadline are Malaysian Resources Corp Bhd, Guocoland Malaysia Bhd and Putrajaya Holdings Sdn Bhd.
Only one developer will be awarded the contract, and it will be based on the merits of its submission, said EPF’s unit, Kwasa Land Sdn Bhd.
The adjudication process for all of the Project MX-1 submissions by an independent panel of consultants from various fields would take two months, said Kwasa Land in a statement yesterday, adding that thereafter, the successful tenderer would be announced.
Kwasa Land is the master developer of the 932ha township called Kwasa Damansara
In March, it invited 20 Tier-1 developers with paid-up capital of RM1 billion and above to submit a Request for Proposal (RFP) for Project MX-1. The deadline for the RFP was May 27.
Project MX-1 is a 24ha town centre that is expected to generate more than RM3 billion in gross development value.
The 14 developers that did not meet the deadline were Sunway Bhd, Tropicana Corp Bhd, WCT Bhd, Bandar Raya Developments Bhd, IJM Land Bhd, IOI Properties Bhd, DRB-HICOM Bhd, Eastern & Oriental Bhd, Gamuda Bhd, Mah Sing Group Bhd, Goldis Bhd, Bandar Utama City Corp Sdn Bhd, I&P Group Sdn Bhd and Perbadanan Kemajuan Negeri Selangor.
One of the developers told Business Times that it could not meet the deadline as the time frame given was “too short”. Another developer said it had decided to pull out as the land price was too high for a commercial project in the Sungai Buloh area.
A spokesman from Mah Sing said the company decided to give Project MX-1 a miss due to the high commercial content in the master plan.
“Mah Sing is focusing on residential projects at the moment. We will bid for projects in Kwasa Damansara that are more residential-focused,” said the spokesman.
Kwasa Land will invite Tier-3 Bumiputera developers for the inaugural Bumiputera development and Tier-2 developers for a residential development in the third and fourth quarter, respectively. -NST Business Times
