KUALA LUMPUR (April 22): The Employees Provident Fund's wholly-owned Kwasa Land has inked an agreement with YTL Corp Bhd to develop a residential project in Kwasa Damansara with an estimated gross development value (GDV) of RM200 million.
In a statement, Kwasa Land — the master developer of Kwasa Damansara — said it has signed a development rights agreement with YTL’s wholly-owned subsidiary Syarikat Pembenaan Yeoh Tiong Lay (YTL Construction).
The 12.7-acre development has been identified as plot R2-1 at Kwasa Damansara, and will entail the construction of 1.5-storey townhouses and three-storey landed terrace houses, alongside a 1.28-acre central park and 2.71-acre linear park.
The homes will have built-up areas of between 1,200 sq ft and 2,300 sq ft.
Kwasa Land managing director Mohamad Hafiz Kassim said YTL was selected following a robust process where it showed its ability, solid track record and desire to deliver residential offerings with exceptional quality — in line with the demand of current homebuyers.
"We look forward to working hand-in-hand with YTL to launch the development by year-end,” he said.
Meanwhile, YTL Construction executive director Yeoh Keong Yuan said YTL is excited to be part of a green, inclusive and connected township that represents Klang Valley’s last significant greenfield site with the development of future-forward residential offerings.
"Leveraging on shared values with Kwasa Land to strive towards a greener community, the R2-1 development provides us a platform to integrate nature as a complementary aspect that completes the home and living experience.
"Residents will be able to enjoy open, spacious living spaces and be connected outdoors with the stunning views of the surrounding parks and venture out to explore well-landscaped walking trails and jogging paths,” said Yeoh
Shares in YTL were 0.7% or half a sen lower at 71 sen at 4:17pm. It now has a market capitalisation of RM7.83 billion.
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