EPF finalises land purchase for RM2.28 billion

By Bernama Monday, 27 August 2012 15:19

KUALA LUMPUR: Kwasa Land Sdn Bhd, a wholly-owned subsidiary of the Employees Provident Fund EPF), has finalised the purchase price at RM2.28 billion for 93.2 hectares (2,330 acres) of prime Rubber Research Institute (RRI) land in Sungai Buloh. Kwasa Land Chairman Tan Sri Samsudin Osman said the new Kwasa Damansara township development would incorporate plans that are befitting of a city, replete with infrastructure and modern facilities, both residential and commercial that aim to serve the entire Damansara area, if not the Klang Valley. The proposed township development is expected to create abundant opportunities for developers and contractors to participate in developing residential and commercial properties, main infrastructures and public amenities for an expected 150,000 population. "The development planning is now in an advanced stage, with the iconic township development expected to commence next year," he said. Kwasa Land has established itself as a master developer and as an investment holding company for the entire development of the township that has been given a 15-year construction lifespan. Among key features in the design and layout plans are a development hub comprising modern residential, commercial, recreation and education facilities. It will also incorporate an integrated transportation system that links the township via Mass Rail Transit (MRT) to the rest of the Klang Valley, Kwasa Land said in a statement today. The masterplan is being finalised for submission to the Selangor State Planning Committee for approval.-- Bernama