Business

MRCB appointed project delivery partner

Kwasa Damansara is one of the largest real estate developments in Malaysia.

Kwasa Damansara is one of the largest real estate developments in Malaysia.

Syndicated News
Written by Syndicated News

KUALA LUMPUR — May 26, 2016: Malaysian Resources Corporation Berhad (MRCB)  has signed an agreement with Kwasa Land Sdn. Bhd. as project delivery partner (PDP) for 2,330 acres of land at the Kwasa Damansara township.

MRCB informed Bursa Malaysia today that  its subsidiary, MRCB Builders Sdn. Bhd., will carry out the PDP work for a provisional fee of RM112.28 million, excluding the 6 per cent goods and services tax and reimbursement costs.

MRCB Builder’s scope of work as the PDP is to undertake the construction and completion of common infrastructure, including common roads, drainage system, waterworks, telecommunication, sewerage and mechanical and electrical infrastructure.

The total provisional gross development cost to be incurred by Kwasa Land, the master  developer of the township and a wholly-owned subsidiary of the Employees Provident Fund., amounts to approximately RM2.3 billion.

The entire Kwasa Damansara land in Sungai Buloh is estimated to have a gross development value of RM50 billion over the next 20 years. The township  is in proximity to major centres such as Kota Damansara, Bandar Utama and Petaling Jaya.

Comments

comments

About the author

Syndicated News

Syndicated News

News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.