The whole development of the town centre must be fully completed within 12 years, Kwasa Land said.

It is learnt that two briefings will be held next Monday and Thursday for thedevelopers, and of the 20 who have been pre-qualified, only one will be awarded the project based on the merits of its submission.

A number of companies that had been earlier touted to be the potential winners in the Kwasa Land development were surprisingly missing from the list.

Among them are Sime Darby Bhd’s property arm, Perdana ParkCity Sdn Bhd, and Glomac Bhd.

Some new upstarts, including Eco World Development Group Bhd (formerly Focal Aims Holdings Bhd), were also not among the prequalifiers.

“But this could be due to the fact that Kwasa Land’s criteria specifies that only Tier 1 developers with shareholders’ funds or a paid-up capital of at least RM1bil and above can be considered for the town centre project,” said a property industry executive.

Kwasa Land has clearly stated that it was looking for experienced property developers with a strong track record and who have successfully completed developments with a high gross development value for the past three years.

An official said that the Tier 2 and Tier 3 developers would be considered for smaller parcels of land.

The Tier 2 developers are those with RM300mil and above in shareholders’ funds or paid-up capital, while Tier 3 developers are bumiputra companies of RM1mil and above.

Kwasa Damansara is a project that is expected to be carried out over the next 20 years and the first major township development in the fringes ofthe city complete with public transport infrastructure.
It is built to cater for at least 150,000 people.

As the master developer, Kwasa Land will be responsible to deliver the common infrastructure and thematic landscape parks, build affordable homes, and also provide land for schools, places of worship, police stations and fire stations.
  
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