PETALING JAYA: Kwasa Land Sdn Bhd’s wholly owned unit, Kwasa Development (3) Sdn Bhd, has inked a development rights agreement for Plot R2-1 with development partner Naza TTDI Sdn Bhd for a 12.7-acre residential development in the Kwasa Damansara township.
In a statement yesterday, Kwasa Land said Naza TTDI will develop 278 residential units or garden villas for plot landowner, Kwasa Development (3).
Kwasa Land is the master developer for the 2,330-acre iconic township and a wholly-owned subsidiary of the Employees Provident Fund.
“The six-year development is expected to generate an approximate gross development value (GDV) of RM400 million,” said Kwasa Land managing director Datuk Mohd Lotfy Mohd Noh.
“Upon completion, Kwasa Land’s financial return based on Net Present Value (NPV) will be RM88 million, which is equivalent to RM160 per sq ft inclusive of the revenue guarantee.” he added.
The development comprises 278 units of garden villas with a built-up area ranging from 1,200 sq ft to 2,800 sq ft.
The development’s key highlights are a thematic park, contemporary designs, private green courtyards and recreational club facilities with advance key security features.
The residential development will be a gated and guarded/enclave community.
Source: http://www.thesundaily.my/news/1627921
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