Kwasa Land grants LBS development rights for RM8.3b project in Kwasa Damansara

• The development, to be executed over 14 years in phases, will comprise 2,922 residential units, including a mix of low- and mid-rise condominiums and landed homes.

KUALA LUMPUR (July 30): Kwasa Land Sdn Bhd, a wholly owned subsidiary of the Employees Provident Fund (EPF), has awarded LBS Bina Group Bhd (KL:LBS) development rights for an RM8.3 billion residential project in the Kwasa Damansara township.

The Development Rights Agreement was signed between Kwasa Land and LBS' subsidiary LBS Kwasa Damansara Sdn Bhd, granting LBS Kwasa Damansara the exclusive rights to progressively develop 192.32 acres across 11 freehold parcels in the township.

The development, to be executed over 14 years in phases, will comprise 2,922 residential units, including a mix of low- and mid-rise condominiums and landed homes.

The total value of the development rights amounts to RM1.216 billion, largely representing the land cost.

Kwasa Land managing director Datuk Adenan Md Yusof said: “We are pleased to partner with LBS, a developer with a proven track record in delivering quality and community-focused developments. This collaboration marks a progressive step forward in realising the vision of Kwasa Damansara as a sustainable and inclusive township that caters to Malaysia’s growing urban population.”

LBS group executive chairman Tan Sri Lim Hock San said: “This collaboration marks a significant milestone in our ongoing mission to deliver well-connected and high-quality residential communities that prioritise long-term liveability.

“Drawing on our strong track record and extensive experience in township development, we are committed to maximising the value of this prime land by delivering a sustainable, high-quality, and future-ready neighbourhood that meets the evolving needs of modern homebuyers. Moving forward, this strategic development is expected to strengthen the group’s financial performance and position, while diversifying our portfolio with high-value, premium offerings.”

The project is located in the PJ West area of Kwasa Damansara, a precinct positioned as a gateway between established suburbs such as Kota Damansara, Tropicana, Subang Bestari and Sungai Buloh.

PJ West will also be home to the proposed Kwasa Community Forest, a planned green sanctuary situated at the highest point of the township. The forest will be linked to adjacent plots through green corridors and feature amenities such as lookout points, walking trails, a boardwalk, mountain biking tracks and an amphitheatre.

Meanwhile, Kwasa Damansara is a 2,257-acre master-planned township in the District of Petaling, Selangor, designed as a green, transit-oriented development anchored by two MRT stations and major highways including NKVE, DASH and GCE.

It will include 25,000 housing units, 10,000 of which are designated as affordable homes, alongside 250 acres of green open space, nine parks, and 25km of cycling and walking trails.

To date, Kwasa Land has partnered with 17 developers over 973 acres of saleable land within the township, representing a combined gross development value exceeding RM40 billion.

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